Good and bad farm story.
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A drop in corn prices may be good news for livestock producers, but it could mean bad news for farmland prices, according to a Bloomberg report.
“I can see the fear in farmers’ eyes when they think of all the moving pieces around the world gutting the value of next year’s crop,” said David Kohl, agricultural economist and president of consulting firm AgriVisions, who last week spoke at several farming conferences in northern Nebraska. “Most of them know the boom in corn prices and farmland prices is coming to a screeching halt.”
Farmland prices have soared by an average of 72 percent over the last three years, but experts warn that the value of the $2.5 trillion of U.S. farmland could plummet by as much as 30 percent within the next three years as the corn rush ends.