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The 2020 Kansas Land Values Book shows detailed sale information and trends.

Jennifer M. Latzke, Editor

April 28, 2021

2 Min Read
Aerial view of a crop circle of corn
LAND VALUES: You can see the 2020 Kansas Land Values Book online now.Blaine Harrington III/Getty Images

Strengthening commodity prices, low interest rates and recent large infusions of government payments supporting net farm incomes may lead to stronger land values in 2021.

This is just one possibility discussed in the third edition of the Kansas Agricultural Land Values and Trends, released this week with sales data from 2015 to 2020. The publication is a joint venture between the Kansas Society of Professional Farm Managers and Rural Appraisers and the Kansas State University Agricultural Economics Department.

Robin Reid, K-State Department of Ag Economics Extension associate, and Allen Featherstone, K-State department head of ag economics, write that 2020 will be known as a year of “disrupted marketing chains, large government emergency payments and an unanticipated but very welcome run-up in commodity prices.”

While soybeans and corn cash prices decreased as the pandemic began in March, they rallied by August and ended the year at levels not seen in six years. In 2020, net farm income was buoyed by Marketing Facilitation Payments and Coronavirus Food Assistance Program payments. Reid and Featherstone predict that if strong commodity prices continue in 2021, net farm income in Kansas will manage the gap from the loss of government payments.

Despite a downturn in the farm economy in the last five years, Kansas land values have remained resilient.

“While a pullback in values since 2014 is seen statewide, one can argue the steep growth curve that occurred prior may have overinflated land values,” Reid and Featherstone write. “Continuing on a near 5% annual growth curve would bring land values back to a historically ‘normal’ growth rate.”

The report shows at the state level, agricultural land sales totaled 420,578 acres in 2020, which is 6.7% greater than the 2015-19 average. The southwest region contributed the most to state sales volume, while the northeast region tended to have the highest prices per acre and yet the smallest sales volume, the report states.

Land values

Nonirrigated cropland makes up the majority of Kansas agricultural land. Compared to the five-year average, the report states that the value of nonirrigated cropland decreased 3.9%.

Irrigated cropland saw its peak prices in 2015, but in the six years since, values have been highly variable, the report states. Meanwhile, pasture and hay ground value continues to hold steady from its peak in 2015.

As always, consult a local land professional when making buy-sell decisions. To read the full report, visit the Kansas Land Values Book 2020 webpage at the K-State website.

Source: Kansas State University Agricultural Economics and the American Society of Farm Managers and Rural Appraisers which are solely responsible for the information provided and are wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.



About the Author(s)

Jennifer M. Latzke

Editor, Kansas Farmer

Through all her travels, Jennifer M. Latzke knows that there is no place like Kansas.

Jennifer grew up on her family’s multigenerational registered Angus seedstock ranch and diversified farm just north of Woodbine, Kan., about 30 minutes south of Junction City on the edge of the Kansas Flint Hills. Rock Springs Ranch State 4-H Center was in her family’s backyard.

While at Kansas State University, Jennifer was a member of the Sigma Kappa Sorority and a national officer for the Agricultural Communicators of Tomorrow. She graduated in May 2000 with a bachelor’s degree in agricultural communications and a minor in animal science. In August 2000 Jennifer started her 20-year agricultural writing career in Dodge City, Kan., on the far southwest corner of the state.

She’s traveled across the U.S. writing on wheat, sorghum, corn, cotton, dairy and beef stories as well as breaking news and policy at the local, state and national levels. Latzke has traveled across Mexico and South America with the U.S. Wheat Associates and toured Vietnam as a member of KARL Class X. She’s traveled to Argentina as one of 10 IFAJ-Alltech Young Leaders in Agricultural Journalism. And she was part of a delegation of AAEA: The Ag Communicators Network members invited to Cuba.

Jennifer’s an award-winning writer, columnist, and podcaster, recognized by the Kansas Professional Communicators, Kansas Press Association, the National Federation of Presswomen, Livestock Publications Council, and AAEA. In 2019, Jennifer reached the pinnacle of achievements, earning the title of “Writer of Merit” from AAEA.

Trips and accolades are lovely, but Jennifer says she is happiest on the road talking to farmers and ranchers and gathering stories and photos to share with readers.

“It’s an honor and a great responsibility to be able to tell someone’s story and bring them recognition for their work on the land,” Jennifer says. “But my role is also evolving to help our more urban neighbors understand the issues our Kansas farmers face in bringing the food and fiber to their store shelves.”

She spends her time gardening, crafting, watching K-State football, and cheering on her nephews and niece in their 4-H projects. She can be found on Twitter at @Latzke.

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