Producers should be cautious before buying more land, according to one economist
Farmland values are on the up and an economist is cautioning farmers looking to purchase.
The USDA’s latest Land Values Summary shows that cropland values went up 8%, coming in at more than five thousand dollars per acre on average.
An economist with the University of Nebraska-Lincoln says that those prices are not coming down any time soon.
He says that is due to increasing interest rates, and land along the Corn Belt is especially higher due to the ability to produce a good crop.