BLOOMINGTON, ILL. (RFD-TV) — The agricultural market has now gone a whole month without harvest data from the U.S. Department of Agriculture (USDA), and with combines nearing the finish line in many areas, farmers are shifting their focus to post-harvest conditions.
David Klein with the American Society of Farm Managers and Rural Appraisers (ASFMRA) joined us on Wednesday’s Market Day Report with an end-of-harvest update.
In his interview with RFD-TV News, Klein said farmers in central Illinois are averaging corn and soybean prices close to those of last year. He also discussed trends in sales methods as producers and landowners assess current conditions.
Klein said that while there have been some business-planning delays in the state farmland market, approximately 22,000 acres were set for auction in November, but they are adding new listings every day. While trends seem to favor auctions, he is also seeing many traditional listings and sealed-bid auctions when sellers have a price point they want to hit. He said, overall, the market is down about 2.5%, but much lower in some areas of the state, suggesting there’s plenty of opportunity for investors interested in picking up high-quality land.
USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
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