Farmland values following crop prices higher
Farmland values are rising alongside surging commodity prices.
Randy Dickhut is senior vice president of real estate operations for Farmers National Company.
“We’re seeing prices for good quality land at auctions and sold through private treaty listings definitely increase from that pre-harvest through harvesttime auctions that we saw in good cropland areas.”
He tells Brownfield some prices have actually neared 2012’s record levels with an unusually high amount of land hitting the market this fall.
“On the other side of it there was good demand from farmers who were seeing some better incomes from better grain prices (and) those have increased since then. And also from the extra government payments.”
Dickhut anticipates demand for good quality cropland to remain strong in 2021, but he does not expect a large influx of land coming up for sale.