Farmers more optimistic in short- and long-term outlook of farmland values
Farmers are increasingly optimistic about the outlook of farmland values in the next year, according to the latest Purdue University/CME Group Ag Economy Barometer.
Jim Mintert is the director of Purdue’s Center for Commercial Agriculture.
“We got the strongest response we’ve ever gotten on the survey—43 percent of the farmers in our survey said they expect farmland values to rise over the next twelve months,” he says.
He tells Brownfield that’s the most optimistic short-run perspective farmers have had on farmland values since the survey began in 2015.
Farmers are also optimistic farmland values will rise over the next five years.
“Sixty-four percent of the farmers said that they expect farmland values to rise over the next five years,” he says. “So, people are optimistic about asset values and I think that’s being reflected in crop prices and the improvement of profitability.”
The Ag Economy Barometer is a monthly national survey of 400 U.S. agricultural producers.