Land prices holding firm
A farm real estate specialist expects land prices to remain steady through the rest of the summer.
Randy Dickhut with Farmers National Company tells Brownfield competition has been high for good cropland with stronger commodity prices. “We will soon be ramping up from August to September pre-harvest, and then post-harvest into that heavier selling season,” he said. “That will really tell us what the buying interest is.”
He says sales in some areas are up 20 percent since the start of the year, but… “We have interest rates going up and that will put some softening in the land market,” Dickhut said. “If they don’t go too far too fast, it won’t have as much effect on land prices as say the housing market.”
Dickhut says anything can change at a moment’s notice with the weather, commodity markets, world events, and government actions.