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Farmland sales slowing in parts of the Midwest

Farmland sales are slowing in some parts of the Midwest.

Compeer Financial senior appraiser Jeff Hacker covers east central Illinois into northwest Indiana and says there hasn’t been much activity recently.

“I don’t know that I would say that the market has gotten softer, but it doesn’t appear like it’s moving up. But again, we don’t have a whole lot of data to work with right now.”

He tells Brownfield rising interest rates and tighter crop margins are resulting in fewer land sales.

“I’m just talking about my area, I know that there’s been activity in other peoples’ locations. But we don’t have a lot of auctions coming up, so I don’t expect there to be, through the spring, a whole lot of activity.”

Hacker says as long as crop prices remain strong, farmland values should be relatively stable.