During the 1980s, the Carter grain embargo interrupted trade movement. Interest rates were also sky high. Purdue University Economist Dr. Jason Henderson says there are similarities with what is happening today. Land values collapsed during the 1980s farm crisis, but Henderson does not expect that to happen during this downturn. “I think land rates will soften a little bit, but we don’t have the interest rates near the levels we had in the 80s and that will provide a buffer. Right now, we came off a major boom and we have some larger farmers that own a lot of land and don’t have a lot of debt on it. They’ll be able to provide some type of floor if land values do fall.” Henderson was featured at AgriGrowth’s Minnesota Ag and Food Summit.
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