Farmland values and rents in Illinois are holding steady across most of the state according to the 2019 Farmland Values and Lease Trends Report released today by the Illinois Society of Professional Farm Managers and Rural Appraisers. The information was discussed at the group’s annual Land
Value Conference held here.
“2018 brought continued challenges for Illinois agriculture with increasing grain supplies and wide price variation as a result of the most productive soybean crop ever produced by the state,” according to David Klein, AFM, ALC, with First Mid Ag Services, Bloomington, and overall chair of the organization’s annual Land Values Project. “Most farm incomes continued their retracement from recent historical highs with the high production levels and USDA market facilitation payments keeping farmers profitable. As we begin 2019, farmland seems be holding firm as owners and investors continue to seek this tightly held asset class with its unique investment characteristics in Illinois and other Midwestern states.”
Read this Press Release.