Survey: Illinois farm values hold steady, 31% of farmers made prevented-planting claims
Farmland prices are holding steady and close to a third of farm managers report prevented-planting claims this year, according to a survey released this week at the Farm Progress Show.
The mid-year survey, conducted by the Illinois Society of Professional Farm Managers and Rural Appraisers and released Wednesday, found that farmers who made prevented-planting claims through the U.S. Department of Agriculture program had to do so for 15% of corn acres and 5% of soybean acres.
The primary reasons those surveyed gave for participating in the program was that their land was not fit to plant and that it made more financial sense.
The survey showed Illinois farm values are holding steady for now, but could start to go down in the next six months.
Excellent-quality farmland — producing 190 bushels of corn per acre — is currently bringing in $10,497 per acre, a slight decrease of 1% since the beginning of the year.
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The mid-year survey, conducted by the Illinois Society of Professional Farm Managers and Rural Appraisers and released Wednesday, found that farmers who made prevented-planting claims through the U.S. Department of Agriculture program had to do so for 15% of corn acres and 5% of soybean acres.
The primary reasons those surveyed gave for participating in the program was that their land was not fit to plant and that it made more financial sense.
The survey showed Illinois farm values are holding steady for now, but could start to go down in the next six months.
Excellent-quality farmland — producing 190 bushels of corn per acre — is currently bringing in $10,497 per acre, a slight decrease of 1% since the beginning of the year.
Click Here to read more.