Photo Credit: AP Photo/Rich Pedroncelli, File
Iowa Farmland Values Soar
Farmland prices are soaring and many wonder if the peak is near. The continual strong commodity prices and low interest rates make land a good investment right now, but an increase in interest rates may slow it all down.
“Farmland prices in Iowa for 2021 were up 29% on average, an increase of $2,193 per acre, with a total average value across the state of $9,751,” says Wendong Zhang, Iowa State University Extension economist, referring to information based on the U.S. Census of Agriculture estimates from 2021 over 2020. But those prices have continued to rise, up more than 40% since year-end, and are currently averaging over $13,000 per acre. Read More
How Rising Interest Rates Will Impact Farmers, Agriculture
What will be the effects of higher interest rates on farmers and agriculture?
“I’m almost gun shy of making strong predictions in the environment we’ve been in the last couple years,” says USDA chief economist Seth Meyer. He adds that classic economics would say that normally, “rising interest rates in the United States strengthens the dollar, makes us a little less export competitive.”
But Meyer says this isn’t a normal situation. Commodity prices are very high, demand also continues high in light of short supplies of commodities, like wheat, and weather concerns for other crops. However, Meyer is not gun shy on making this projection for producers. Read More
A Massive Maui Ranch Next Door to Oprah’s Property Asks $75 Million
Hana Ranch, which is one of the largest pieces of land for sale in Hawaii, sits next to roughly 100 undeveloped acres owned by the media mogul. Read More
Iowa State University Report: Farmers Paying More for Fertilizer, But Gouging Not Found
While crop prices have roughly doubled, fertilizer prices are as much as four times higher now than in 2020, contributing to rising Iowa and U.S. farm production costs, an Iowa State University report says. Read More
Invasive Insect That Kills Grapes Could Reach California Wine Region by 2027
The spotted lanternfly, an invasive insect that can kill grapevines and damage other crops, has a chance of first reaching the wine-producing counties of California in five years, according to a new analysis from North Carolina State University researchers. Read More
California Lawmakers Mull Buying Out Farmers to Save Water
After decades of fighting farmers in court over how much water they can take out of California's rivers and streams, some state lawmakers want to try something different: use taxpayer money to buy out farmers. Read More
