With low commodity prices and rising interest rates, plus worries about tariffs being imposed on our U.S. ag exports to China, “farmers know that land prices are eventually going to have to follow commodity prices downward,” says Mississippi Land Bank Chairman Abbott Myers.
“ If they have land they’re thinking about selling, and getting out at the top of the market, the reasoning is that now might be a pretty good time to do it,” he said at the organization’s annual stockholders meeting.
“Another thing, some older generation farmers are retiring and getting out of farming. They want to cash in and make changes before the market for land goes down. At the same time, buyers are wanting to buy land before interest rates go up more.”