Farmland Sales Shatter Records in 2022

Farmers National Company Senior Vice President, Paul Schadegg, says the market began 2022 with plenty of momentum.  "Where we thought we’d probably see some settling in values, the exact opposite happened.”

According to Schadegg, strong demand coupled with limited supply drove values 15 to 17 percent higher year-over-year. “Not only maintaining those values from the beginning of the year, but moved it all the way through the end of the year. Increasing values with several exceptional sales along the way.”

Farmers National reports record sales near $30,000 an acre in Iowa and high-water marks above $20,000 in Illinois and Indiana.

Schadegg says commodity prices continue to be the main driver, and he looks for the farmland market to remain strong moving into 2023.

EDITOR’S TAKE:     

Thankfully, U.S. farmers/ranchers remain the primary purchasers of our nation’s farmland - not outside investors. And, with 2022 setting records for net farm income and commodity prices off to a running start in 2023, we can likely expect the same type of performance to sustain through this year. As we have shared in the past, land values are the main contributor to a farmer’s/rancher’s balance sheet. While some expect 2023 net farm income to decline ever so slightly, it is not likely to alter their appetite for farmland. Similarly, we do not expect their appetite for truck purchases to subside any time soon either. Now is a great time to share your inventory on AgTruckTrader.com along with promoting AgPack®!