A commodity broker says one of the first questions farmers ask him is when land prices will decline.
Jody Lawrence, president of Strategic Trading Advisors, says it won’t happen anytime soon. “We thought for a while it would be high-interest rates, we’re here right now and the price isn’t going down,” he says. “We thought it would be lower corn prices, we’ve certainly seen a couple of variations of that over the past six months and that hasn’t made any land sell for cheaper that I’ve heard of.”
He tells Brownfield productivity matters. “As the yields continue to get higher and higher, even if it’s only a bushel a year, that adds revenue to that acre,” he says.
