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ASFMRA AgNews - May 21, 2019

By ASFMRA Press posted 2 days ago
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6 Drivers Keeping the Farmland Market Steady Doug Hensley, president of real estate services with Hertz farm management, recently talked with Chip Flory on AgriTalk and gave an overall update on the farmland market. Hensley gives six drivers keeping the farmland market firm despite so much uncertainty in ag. Annual numbers are a better barometer than quarterly surveys. “I really look at the annual numbers maybe a little more closely,” Hensely says. “With the quarterly numbers, it’s a survey of people’s attitudes one sale to the next which can really influence things.” He continues to say that looking from April 2018 to April 2019, the farmland market ...
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ASFMRA AgNews - May 14, 2019

By ASFMRA Press posted 9 days ago
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Land Values in Florida Rock Solid In March, Coldwell Banker Commercial Saunders Real Estate hosted its annual Lay of the Land Conference in Orlando. Each year during the conference, Dean Saunders, founder of the Lakeland-based company, releases his “Lay of the Land Report,” which provides property values based upon verified sales for the previous year. Florida’s land market values remained strong in 2018, bolstered by the nearly 1,000 people moving into the state daily and an unemployment rate below 4%. He noted the strong economy and no state income tax is a big draw. People want jobs, water, and sunshine. “The rising tide of our growing population floats ...
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ASFMRA AgNews - May 7, 2019

By ASFMRA Press posted 16 days ago
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Farmland Values Continue to Rise in Canada Average farmland values in Canada continue to rise according to Canada's lead agricultural lender. Farm Credit Canada’s (FCC) 2018 Farmland Values Report shows the average value of Canadian farmland increased 6.6 per cent in 2018, following gains of 8.4 per cent in 2017 and 7.9 per cent in 2016. Alberta saw a 7.4 per cent increase in the value of its farm acres, which FCC says is a relativity stable trend considering the 7.3 per cent increase in 2017. However, Southern Alberta saw the highest increase in value compared to other regions of the Province with a 12.7 per cent jump. FCC says there was strong demand ...
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ASFMRA AgNews - April 30, 2019

By ASFMRA Press posted 23 days ago
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What Could Dampen Farmland Values? A laundry list of factors can support or sink farmland values. In the past few years, values have been surprisingly resilient. Looking forward, however, prices may lean lower, according to a recent report from the Federal Reserve Bank of Kansas City. In 2018, the spread between returns to farmland owners and benchmark interest rates narrowed to its lowest level in more than a decade in the Tenth Federal Reserve District. At the same time, farmland sales increased in some states for the first time in several years. “Together, the reduced spread and indications of increased sales in some regions suggest the potential for ...
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ASFMRA AgNews - April 23, 2019

By ASFMRA Press posted 30 days ago
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Floods' Impact on Land Values Floods Affect Specific Farm Values, but not Overall Trend Farmers and ranchers hit by March's flooding and blizzard are still trying to assess their damage. Land values will be affected, but only specific to the property and its damage. "In 1993 flooding on the Mississippi, I had a friend who farmed near a levee that broke and he had 30 acres of sand dumped on his property. With a trackhoe and bulldozer, he got some of it off, but some just became wasteland," recalled Randy Dickhut, senior vice president with Farmers National Company in Omaha. How did the floods affect farmland? Ag Census:  Farmland Receding in California ...
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ASFMRA AgNews - April 16, 2019

By ASFMRA Press posted 04-15-2019
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North Dakota Land Values and Rents Show Some Strength North Dakota Land Values and Rents Show Some StrengthNorth Dakota cropland value increased nearly 2 percent, according to a January survey the North Dakota Department of Trust Lands commissioned. An earlier report from a June 2018 U.S. Department of Agriculture survey showed no change in North Dakota cropland values from the previous year. “The January survey reflected the impact of very strong yields and federal aid to producers in the form of market facilitation payments to offset the impact of Chinese tariffs on U.S. farm commodities,” explains Andrew Swenson, North Dakota State University Extension ...
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ASFMRA AgNews - April 9, 2019

By ASFMRA Press posted 04-08-2019
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Farmland Values Are Stable Despite Income and Trade Turmoil Across the Farm Belt, cropland values generally are holding steady in the fifth year of low commodity prices and are bolstering farm finances. Economist David Oppedahl of the Chicago Federal Reserve says stellar yields are a key reason in the Midwest. Near-record corn and soybean yields keep revenue flowing. Land values in the central Midwest, steady overall during 2018, were expected to remain strong into planting season this year, according to ag bankers surveyed by the Chicago Fed. The value of “good” farmland in the district rose by 1% in the closing months of 2018. The St. Louis Federal Reserve, ...
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ASFMRA AgNews - April 2, 2019

By ASFMRA Press posted 04-01-2019
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Farmland Prices Reach Historic Highs in Upper Midwest Farmland prices reach historic highs in Upper MidwestEighty-nine acres of farmland sold for $6,950 per acre in Brown County, 74 acres sold for $7,145 per acre in Martin County and 80 acres sold for $7,563 per acre in Sibley County — all in the span of a week in February in southwest Minnesota. Farmland values leveled off after 2014, but acreage is still selling at historically high prices in the Upper Midwest. And that’s a good thing for Minnesota farmers, who endured their least profitable year in three decades in 2018 thanks to low grain, meat and milk prices, a trade war with China and bad weather. ...
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ASFMRA AgNews - March 26, 2019

By ASFMRA Press posted 03-25-2019
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Farmland Values Stable, But Risks to Outlook Remain Farmland values remained stable in the fourth quarter, according to the Tenth District Survey of Agricultural Credit Conditions. Declines in the value of non irrigated and irrigated cropland remained modest across the District, and declined only 3 percent from last year. On average, cropland values also declined at a slower pace in 2018 than in the previous two years. Ranch land values increased slightly for the second quarter in a row, the first consecutive increase in farmland values since 2015. Furthermore, most of the strength in ranch land values across the Kansas City, Missouri, district were ...
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Illinois Farmland Values, Lease Rates Holding Steady

By ASFMRA Press posted 03-21-2019
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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 ...
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ASFMRA AgNews - March 19, 2019

By ASFMRA Press posted 03-18-2019
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Farmers Dig Deep To Weather Slumping Ag Economy, But Don’t Call It A Crisis Farmers Dig Deep To Weather Slumping Ag Economy, But Don’t Call It A CrisisFarm income has taken a long, hard fall, dropping 50 percent since hitting a high point in 2013. Add to that near-record levels of farm debt, and you have a recipe for financial stress. But while economists say they can see storm clouds building, it’s not a full-blown crisis. That’s because relatively few farms have been pushed past the breaking point into Chapter 12 bankruptcy — or, worse, into losing the farm entirely. Nebraska farmer Ben Steffen felt it worst with last year’s milk prices. Sales from his ...
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ASFMRA AgNews - March 12, 2019

By ASFMRA Press posted 03-11-2019
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Land Values Show Signs of Weakening Many agricultural experts and economists have been warning for the past few years that we could be headed for a significant correction in farm land values in the Midwest. Land value summaries showed that a reduction in average land values did occur in some regions of the U.S from 2014-16, including the Upper Midwest. Land values in the Midwest stabilized somewhat in in 2017, before showing some signs of decline in many areas in 2018. Most experts point to low commodity prices and reduced farm profitability as the primary reasons for the recent decline in land values. Iowa State University does a land value survey each ...
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ASFMRA AgNews - March 5, 2019

By ASFMRA Press posted 03-04-2019
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Land Values Remain Fairly Stable Many agricultural experts and economists have been warning for the past few years that we could be headed for a significant correction in farm land values in the Midwest. Land value summaries showed that a reduction in average land values did occur in some regions of the U.S from 2014-16, including the Upper Midwest. Land values in the Midwest stabilized somewhat in in 2017, before showing some signs of decline in many areas in 2018. Most experts point to low commodity prices and reduced farm profitability as the primary reasons for recent decline in land values. Read More on Value Stability Fed Reserve Reports 2018 ...
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ASFMRA Mid-South Chapter 2019 Land Values Report

By ASFMRA Press posted 02-27-2019
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Jonesboro, AR - The Mid-South Chapter of the American Society of Farm Managers and Rural Appraisers® (ASFMRA®) released their 2019 Land Values and Lease Trends Report. This is a comprehensive look at farmland values and agricultural property lease rates throughout the mid-south region of the United States. This new publication is now available through members of the Chapter. Read This Press Release.
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ASFMRA AgNews - February 26, 2019

By ASFMRA Press posted 02-25-2019
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USDA Says Farm Real Estate Prices Holding Up, But Worried About a Fall USDA Says Farm Real Estate Prices Holding Up, But Worried About a FallThe U.S. Department of Agriculture is concerned about a potential decline in farmland real estate prices, but has seen no sign of that happening so far, USDA chief economist Robert Johansson said on Thursday. Farmland prices are a key pillar of equity for the U.S. agricultural heartland, which has been suffering from lingering weakness in commodity prices and loss of key export markets such as China due to President Donald Trump’s trade disputes. A potential significant price-drop in farmland is something “we are ...
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Chapter Recognition Program and You!

By ASFMRA Press posted 02-21-2019
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Greetings,   Most of you have probably heard of the Chapter Recognition Program .  If you have not heard of it, I will briefly describe.  The program started last year as a way to encourage Chapter participation and local promotion so that we all work towards growing membership, providing the best education, resources, and networking.  There are ten criteria that must be met under the program in order to receive ASFMRA Patron Chapter status.  Chapters that meet the Patron Chapter criteria will be recognized at the Annual Conference with the program guide, promotions for the conference, signage, and during the accreditation and awards ceremony.  Additionally, ...
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ASFMRA AgNews - February 20, 2019

By ASFMRA Press posted 02-20-2019
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Midwest and Mid-South: Farm Income Down, Farmland Values UpMidwest and Mid-South: Farm Income Down, Farmland Values Up Farmers continue to face declining farm income in the Midwest and Mid-South regions, according to the latest report from the Federal Reserve Bank of St. Louis. Yet, values for quality farmland, ranchland and pastureland all rose. The Federal Reserve Bank of St. Louis, which is the Eight District, includes all or parts of seven Midwest and Mid-South states: Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. Lenders continue to report declines in farm income relative to a year earlier. The current index value marks ...
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Member Spotlight: Marlo T. Dill, ARA

By ASFMRA Press posted 02-15-2019
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Marlo Dill is the President and head appraiser of AGCO-Dill & Associates LLC, an agricultural fee appraisal shop that she opened in 2004. She has been a member of ASFMRA since 1994, before she started her career in the ag appraisal industry in 1995. In this exclusive Member Spotlight, get to know Marlo, her inspiration, and what her typical day looks like! How long have you been working in agriculture appraisal/management? And what other positions have you held in the industry? My career in the ag appraisal industry began in 1995, following graduation from California State University at Fresno with a Bachelor of Science in Agricultural Business. ...
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ASFMRA AgNews - February 12, 2019

By ASFMRA Press posted 02-11-2019
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Big Changes Ahead in Land Ownership and Farm Operators? Dig into U.S. farmland tenure to see what’s happening and what’s likely for the future, and Carson Futch’s 87-year-old dad, Alvin, is very typical. Carson, a real estate agent specializing in farmland for Lakeland-based Saunders Real Estate in central and south Florida, says his dad was a fifth-generation farmer with no family members who wanted to farm, so he put his land into a family corporation and has rented it out for decades to another large farmland manager for growing strawberries.­ It often happens, he says: “Farmers have invested in their land and in their operation all these years, so ...
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ASFMRA AgNews - February 5, 2019

By ASFMRA Press posted 02-04-2019
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3 Factors Could Topple Farmland Values Since hitting bottom in the early 1990s, the price of agricultural land has soared, rising 169% in real terms between 1994 and 2015, according to Erik Norland, executive director and senior economist of CME Group.  “Moreover, agricultural land values were largely untouched by the financial crisis, experiencing only a small dip in 2009,” he says.  Since 2015, however, farmland prices have gone sideways. Could they be in for a big decline in value? The answer depends on three factors, Norland says. Read the 3 Important Factors. Farmland Values Normalize in Grain Belt States The pace of farmland-value drops has ...
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