Land Investment Monthly - February 2023
Photo Credit: Tannen Maury/Shutterstock
2023 Land Expo Speakers Address the End of the World, Fertilizer Markets, and More
The 16th annual Land Investment Expo hosted by People's Company in Des Moines, Iowa, boasted record attendance and a full agenda of nationally recognized speakers. With a high-calibur lineup of speakers, it’s no surprise this year saw record attendance. Read More
Iowa Farmland Value Increases 17% in 2022
The 2022 Iowa State University Land Value Survey reported a 17% increase to $11,411 per acre in average Iowa farmland values from November 2021 to November 2022. This surge continues from last year, and the $11,411 per acre nominal land value is the highest ever since the 1940s.
The 2022 nominal land value is 31% higher than the 2013 peak in nominal land values, and the inflation-adjusted value, $9,088 per acre in 2015 dollars, saw a 9% increase and is also the highest on record.
The continuing growth in value is supported by high commodity prices, limited land supply, low interest rates through the summer of 2022, readily available cash and credit, stronger-than-expected crop yields, a good farm economy and strong demand, including from investors. Read More
Lawmakers Seek Scrutiny of Farmland Purchases by Chinese, Other Foreign Buyers
A bipartisan group of lawmakers is renewing a push to intensify oversight of foreign purchases of U.S. farmland, citing concerns over recent acquisitions by Chinese buyers.
Legislation set to be introduced in both the House and Senate this week would beef up scrutiny of non-U.S. buyers of U.S. farmland, putting the agricultural sector squarely in the domain of the federal panel that reviews investments for national-security concerns.
It would also add the agriculture secretary to the panel and make clear that its goal includes protecting the U.S. agricultural supply chain from foreign interference. Read More
Scoop: Inside Vilsack’s Farm Bill Strategy Session
VILSACK’S FARM BILL VISION: The USDA chief convened senior department staff last Wednesday for a 90-minute strategy session about the future of agriculture, the farm bill and how key the next two years at USDA will be, according to a person familiar with the meeting.
Vilsack, like a coach, laid out on a whiteboard how USDA can make the case that the department via the farm bill can help “the many,” rather than the few, raise awareness about all it does to aid rural communities, and build support among both Democrats and Republicans.
On message: Vilsack gathered the group to nail down the kinds of major messaging points USDA officials should be using on the Hill and in other conversations when it comes to the future of ag and the farm bill. (Vilsack and his top officials are always very careful not to get ahead of the Hill on actual farm bill specifics.)
Why it matters: Cultivating bipartisan support will be key, as the Biden administration and Democrats on the Hill face a GOP-majority House that already has its own ideas about the upcoming farm bill talks.
2024 impact: The farm bill could help Democrats reconnect with rural communities and USDA’s push to translate the benefits to all Americans could be a boon to President Joe Biden if he decides to run for reelection.
A new paradigm: Vilsack believes there is room for both large scale agriculture production and small-scale farming in the U.S., and he’s tried to push a variety of programs to help small farmers get more support. Vilsack said during the meeting that there needs to be more options for small farmers to earn incomes off the farm. Read More
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