Farmland prices continue to soar across much of the Corn Belt, with Indiana values hitting a record high level in 2022.
Todd Kuethe an ag economist at Purdue University says there are multiple factors contributing to the rise in farmland values. “Things like agricultural prices, the amount of liquidity farmers have – so how much cash they have to purchase land,” he says. “And also, what kind of mortgage rates are they paying and what are the returns on these other investments, and they can potentially do with their money.”
And, he tells Brownfield with the exception of rising interest rates, the ag economy is signaling now is a good time to purchase farmland.