Farmers are less optimistic about short- and long-term farmland values, according to the latest Ag Economy Barometer.
But, Jim Mintert, director of the Purdue Center for Commercial Agriculture, says sentiment isn’t reflective of recent auction prices.
“As we look the auction reports from farmland sales here in the early part of the fall, they continue to be at record levels,” he says. “Yet you can tell from our surveys that producers are starting to get concerned about how much longer this can go on and I think that is what is really taking place in our surveys.”
He says fewer producers expect low interest rates to support farmland values.