The Land Report

2018.1

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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32 The LandReport | S P R I N G 2 0 1 8 LANDREPORT.COM I N V E S T I N G FrontGate Year-over-year farmland values in the Corn Belt are holding steady; however, in the most recent quarter, an uptick in Iowa and in Wisconsin pulled overall values in the Seventh District into positive territory for 2018. — The Editors Stable Farmland Values Trump Falling Commodity Prices January 1, 2018 April 1, 2017 to to April 1, 2018 April 1, 2018 Illinois 0 -1 Indiana 0 +3 Iowa +1 +2 Michigan * * Wisconsin +3 +3 SEVENTH +1 0 DISTRICT Percent change in dollar value of "good" farmland NATIONAL – TREND According to the USDA's Prospective Plantings report, US farmers will plant more soybeans than corn. The one percent drop in soybeans (to 89 million acres) was eclipsed by a two percent drop in corn (to 88 million acres). If these projections are realized, it will mean the lowest planted corn acreage in the US since 2015, according to the National Agricultural Statistics Survey. MIDWEST – FOCUS According to the Chicago Fed's David Oppedahl , "It seems like a lot of the farmers are able to manage through lower crop prices." Cash rental rates for farmland decreased five percent for 2018 relative to 2017, the smallest decline in four years. OF NOTE: A March 28 auction of 2,050 acres of high-quality Wisconsin farmland in Grant County grossed $17.6 million. More than half the ground sold for $8,500-plus per acre, and several tracts exceeded $9,000 per acre. Go to www.ChicagoFed.org to download a complete copy of the Seventh Federal Reserve District's AgLetter. SOURCE: Chicago Fed *Insufficient response.

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