Bell Bank Director of Agribusiness Development Lynn Paulson does not expect farmland values to drop in 2024. “There’s been a phenomenal amount of cash built up in agriculture, so a lot of the land that’s being bought is being bought with past profits,” said Paulson. “From that standpoint, I think land values are pretty stable, especially the good land.” For farmland, value and price are not always the same thing. Paulson believes farmers won’t let increased interest rates impact opportunities to purchase good ground that they have had their eye on. “I don’t think the difference between four percent or seven percent interest is going to change their interest in that property.”
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