Farmland prices and availability concerns
Despite other challenges facing the agriculture industry, a Midwestern farmer says he’s most concerned about farmland prices and availability.
Greg Corcoran grows corn and soybeans in southern Ohio.
Every year the prices of land and the rents are climbing along with everything else,” he says. “In our area, we’ve seen some land sales that have been almost double what we’re used to seeing so that’s concerning.”
He tells Brownfield there is a “land grab” for solar energy projects.
“In our area we’re seeing thousands and thousands of acres being taken out of production and being put into solar farms which drives more demand for land,” he says. “It’s a vicious cycle right now with high commodity prices, high land prices, and high input costs.”
Corcoran says it’s causing some farmers to consider their options.
“It’s a very capital heavy industry right now and you have to look down the road and see if there’s some viability in what you can do,” he says. “Diversification would be a route most people need to start looking at or scaling back and trying to get more out of what you got. We’ve looked at both avenues and it’s going to be a struggle.”
He says they’ve diversified their operation by raising beef cattle and growing popcorn.