Land prices have not declined as would have been expected with higher interest rates, lower farm income and higher input costs. “A lot of the reason is that there was a little less land for sale,” said Randy Dickhut, farmland analyst, Agricultural Economic Insights. Land values may back off somewhat in the year ahead. “Profitability isn’t forecast to be as strong as the past few years so I think there’s some headwinds on farmland values that would soften them some.” Hear the full conversation with Randy Dickhut here.
