News

Farmland values leveling off

Farmland values seem to be leveling off.

Compeer Financial VP of appraisal Mike Morris says there were some modest increases in the Midwest the first three months of the year.

“Maybe a couple percent in Illinois and three and-a-half to four percent in Minnesota and Wisconsin. But the trend really kind of back to November seems to be stable to a slight increase.”

He tells Brownfield some values are trending slightly lower, but points out this is not a strong season for cropland sales.

“We usually have a very strong fall (and) fairly active up to about March 1st, and then farmers start thinking about getting their machinery ready. Those things that go with spring planting season.”

Morris says the farmland market remains well supported and suggests high input costs and rising interest rates have not been the major headwinds many anticipated.

Morris made these comments during a recent What’s Happening podcast, a content partnership between Compeer Financial and Brownfield Ag News.