Land Values & Grain Mkts (1.27.09)

Land Values & Grain Mkts (1.27.09) - Grain Markets...

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Grain Markets & Land Values: What’s Going On? Farm Credit Services of Illinois Paul Stoddard, Chief Appraiser January 30, 2009 1
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Benchmark uptrend continues… 2008 Benchmark updates show consistency 7/1/07 to 7/1/08: Average benchmark value +24.5% 1A benchmarks average +22.7% ($6603/A) 2B benchmarks average + 25.2% ($5481/A) 3C North average + 28.2% ($4673/A) 3C South average + 23.7% ($3702/A) 2
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Longer Term Trend 3
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How quickly things change: ISPFMRA Survey 8/08 (42 resp.) They said: Over next 12 months - 83.8% expect higher land prices 75.3% expect an increase between 0 and 9% None expect a decrease 94% expect an increase in % of farmer-buyers Now it appears that. .(location, location, location) 1A ground is stable in most areas Some weakness in 2B/3C in some areas Farmers have replaced investors in the buyer mix Recreational very soft in some areas; stable in others Less urban fringe influence; smaller circles 4
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Input costs – never this volatile Huge increases in all categories Biggest increase in fertilizer – NH3 was $368/
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Land Values & Grain Mkts (1.27.09) - Grain Markets...

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