The Farmers National Company says the spring and early summer seasons are typically slow when it comes to farmland sales. This year, that timeframe was even slower than normal. However, the land market is now warming up. Business at the Farmers National Company is as robust as its been in recent years and they say business still went on despite the effects of COVID-19. Demand for high-quality cropland remains good in most areas and is bringing mostly steady prices. Some of these sales are happening without being on the open market as the sales come up quickly and buyers are found just as quickly. The lower-quality cropland is less in demand, which tends to soften price levels. There are also first-time buyers in the market currently looking to invest in ag real estate. The outlook for land sales is positive and should bring mostly steady prices in many areas of rural America. Landowners who are considering selling are already reaching out to brokers and potential buyers. Farmers National says possible financial stress among some agricultural producers, the direction of the general economy, and the recovery from COVID-19 effects all remain wild cards in the land market. The company says predicting the ag economy is difficult as things can change overnight.
Comments