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Farmland Prices Should Remain Strong

by
Indiana Farmland
Indiana Farmland

A Purdue University survey indicates that Indiana farmland values are continuing to rise despite the severe drought last summer, and experts expect the trend to continue in the short term.

The survey was conducted at a meeting last month of the Indiana Chapter of Farm Managers and Rural Appraisers.

Those surveyed disagreed on the market's five-year outlook. Fifty-three percent of respondents thought farmland values would be higher, 27 percent thought there would be no change and 20 percent expected values to decrease.

Purdue Extension officials say that the news should signal caution for potential buyers because farmland buyers who borrow large sums of money could end up in a financial bind, especially if commodity prices fall.

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