E168: Checking in on the Farmland Market

For nearly two years now, record high land sales have seemingly become a monthly or even weekly occurrence in the markets for agricultural acres — especially in the heart of the Corn Belt. As prices have continued to climb even as commodity prices cool and interest rates rise, many have started to question what factors are driving this white hot sector. And there are a lot of factors, from the classic indicators like location and soils to ones that are much newer, and less well understood. DTN’s Victoria Myers joins us today to get into the weeds on what’s driving farmland markets today, and what farmers on both buying and selling sides of the equation should be baring in mind moving forward. We’ll talk about how genetics and other new technology are changing calculations about potential, as well as how shifting weather patterns are opening up old crop regions to new, and often higher value, crops. Then, we’ll dig into the latest data from the USDA’s annual Land Values report, and hear key takeaways about competition and insight on mastering emotions in the heat of high pressure sale.