(NAFB) The land market in March is certainly not as warm as this winter has been, according to Doug Hensley, the President of Real Estate Services with Hertz Farm Management. He says the slow grind lower for corn and soybean prices has farmers around break-even cash flows this 2024 crop year. Looking at South America, he thinks there will be a lid on commodity prices as well as farmland values.
Hensley says interest rates are also causing problems with the land market, especially comparing rates.
Hensley says there is enough cash and liquidity, but also more selection going on. That means for the first time in several years, there looks to be pressure to the downside.
Hensley advises folks to watch for sales volume from neighborhood to neighborhood.
And for the first time in a few years, Hensley says other sale methods will compete with public auctions.
Again, Doug Hensley President of Real Estate Services with Hertz Farm Management.
