Most Expect Farmland Values to Moderate

According to the latest CME Group/Purdue University Ag Economy Barometer, fewer farmers expect farmland values will increase in 2024. Two years ago, six percent of those surveyed expected farmland values to decline. About 14 percent expect a decline this year. “Sentiment is cautiously optimistic, but certainly less confident than it was compared to two years ago,” said Jim Mintert, director, Purdue University Center for Commercial Agriculture. Farmers feel now is a better time to invest in new ag equipment because inventories are better. “The implication is that maybe they can do a better job of negotiating a deal.” Listen to the full interview with Jim Mintert here.