Growers are slightly less optimistic about farmland values, according to the latest Purdue University/CME Group Ag Economy Barometer.
Jim Minert is the director of the Purdue Center for Commercial Agriculture.
“People are not quite as optimistic about farmland values going forward as they were earlier,” he says. “Conversely, they’re not telling us farmland prices are going to go down. They’re not negative about farmland prices. They’re just not convinced maybe to the extent they were earlier that farmland prices are going to continue to rise at the rate they’ve been rising.”
The Short-Term Farmland Value Expectation Index held steady, while the Long-Term Farmland Value Expectation Index dropped eight points to 146.
