STAFF BLOG AG RIGHT Finding a 'fair' farmland rental rate
Last fall, I did an Agweek cover story on rising farmland rental rates across the area. The story looked at how drought and volatile crop prices complicate arriving at a rate on which farmers and land... Posted on 2/15/13 at 10:09 AM
After a steady trend of increasing value for Nobles County, Minn., farmland, sale prices are dropping.
Nobles County Assessor Pam Friesen, who assumed her post in March 2014, says she and her staff are in the midst of examining sales during a 12-month period that runs from Oct. 1, 2013, through Sept. 30, 2014.
Farmland prices in the U.S. Corn Belt and central Plains were mostly steady in the third quarter, but weakness was likely before year-end as farmers absorb the impact of five-year lows in grain prices, according to regional Federal Reserve banks.
The boom in farmland prices of recent years could be cooling, setting up a potential economic blow to Minnesota farmers.
Minnesota’s farmland is worth about $100 billion, and given that land often accounts for 80 percent of a farm’s assets, that value has served as an economic engine. It provides farmers the collateral they need to buy equipment and grow crops.
Many Minnesota property owners could see some tax relief this year, but farmers can expect higher taxes for at least the next two years.
“What I am hearing is it is making it much more difficult to do business as a farmer,” Rep. Paul Marquart, D-Dilworth, says of agriculture property tax increases.
Institutional investors are buying up U.S. farmland at a rapid rate, and their influence is starting to shift the types of crops grown and the way the land is managed, according to a report issued Feb. 18.
FARGO, N.D. -- Landowners, renters and other agribusiness professionals with an interest in farmland ownership, management and leasing should consider attending a farmland
leasing workshop sponsored by The North Dakota State University Extension Service.
NDSU Agriculture Communication
December 28, 2012
PIERRE, S.D. — South Dakota producers have worked together to make agriculture the No. 1 industry in the state, an accomplishment that all South Dakotans can take pride in. By individuals working together to find new advances and helping each other out, agriculture will continue to grow into an even larger industry.
WASHINGTON — The National Grain and Feed Association is urging the Senate Agriculture Committee to make dramatic changes to reduce the size of the Conservation Reserve Program, which is currently authorized to pay farmers to idle up to 32 million acres of farmland.
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