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Central Minnesota farmland market “historically strong” despite rising interest rates

A certified appraiser says the farmland market in Central Minnesota is holding up remarkably well.

Andrew Wendlandt with Compeer Financial tells Brownfield sales have been very strong despite rising interest rates.

“Actually historically strong sales, even above the prior couple years. Just kind of bucking all the trends that we would have kind of considered with the Fed pushing up their interest rates.”

He says the influence of outside investors has been supportive this winter and farmers remain active buyers.

“If they have any PPP money remaining, or (because of) really good commodity prices and a little bit of cash-heavy guys moving on property they’ve maybe had their eyes on for awhile. But we’re just seeing really strong prices continuing.”

Wendlandt does expect farmland values to flatten out this year and says the direction of commodity prices will have a major impact. 

Wendlandt made these comments during a recent Compeer Financial appraisal podcast, a content partnership with Brownfield Ag News.