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Farmer sentiment on farmland values is looking up
Farmers are more optimistic about the outlook of farmland values over the next five years, according to the latest Ag Economy Barometer.
Jim Mintert is the director of the Purdue Center for Commercial Agriculture.
“Fifty-nine percent expect to see farmland values rise- that was up from 48 percent last month,” he says. “People were about as optimistic this month as they were back in February and I have to say that was a little bit of a surprise.”
He says there are some big drivers behind the rise in sentiment.
“The incredibly weak interest rate environment that we’re looking at and the lack of alternative investments producers might consider safe,” he says.
The Purdue University CME Group Ag Economy Barometer is a monthly survey of 400 US agricultural producers.
