Farmland values are proving to be very stubborn given the state of farm commodity prices. Cropland values have increased $50/acre in 2019, up 1.2 percent from last year. Overall farm real estate, consisting of both land and buildings, is $60/acre or 1.9 percent higher at $3,160/acre. The plateau in land values over the past five years also came as the federal funds rate grew from 2015 through 2018 and drove ag mortgage rates up. That could be expected to add further pressure on land prices.
Thus, there apparently are other factors at work. One obvious contributor is crop insurance, which can support land values by maintaining the rate of return on covered acres. A second factor is farm program payments. While the total for 2019 is not ye...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
