https://zedmultimedia.com/2024/02/2...my-as-record-corn-supplies-sit-in-silos/

Here goes your "pay for it farming" theory

Corn is around 4.55 a bushel
Approximate break even average is 5.20

Soo if you had 3000 acres you lost more than the guy with 1,000 .......

This type of expected loss is pervasive in rural America.

The American Farm Bureau Federation, an industry group, said in a report this month that net farm income in 2024 is projected to have the largest year-over-year dollar decline in history.

Deere & Co DE.N, the world’s largest farm equipment maker, expects sales of large farm equipment to decline 20% this year due to low commodity prices and high interest rates.

I have bought land and sold land through the years. I never once bought land and had the mindset that it would pay for itself or was it a game changer for me to buy.

Land is a long-term investment with hopefully some equity growth at some time. It hasn't been a reality for decades now that a piece of ground could pay for itself if you figure in all expenses that come with trying to do so.

I bought land as little as 800$ Ac to 7K an Ac and sold land as much as 14K an Ac. If land was given to you than making a total living off of it is real. Decades ago, it was an investment too, but the long-term investment at some time you could make a living from it, but it took years back then also.

Around here they are paying rent 250.00 to 300.00 an acre for land to farm. Guys coming from 50 miles
away bidding on land to farm. I know farmers that farmed the same land 15-20 years,and
someone would come and pay more. Like i said before,i would rather see farmers own it then any
real estate. My 2 cousins are farming what 40 farmer did in the 70tys.

Sold 92 acres of mountain top land , north Catskills, last year for 225,000, just missed the top of the values by a couple months. Covid people bidding everything up for a while.
About 30 acres hay fields, rest forest, no utilities. Broke my heart to sell but there is no one to leave it too.
This area always had "low" land prices in comparison to almost everywhere else.

Once again it is a different mindset and goals. Completely different than stocks/bonds/cd goals and strategy. Using bankruptcy as a tool is not good but it is part of the industry and used as a tool. One down year is not a trend. JD may sell less but other years more. The only problem I see is multiple years in a row drought and if that happens the govt. will step in to bail out/hand out money. If you take in the whole US there are thousands of farmers/ranchers making this work.

jbyrd63, whats the price after tax payer bailout?

I live in Colorado next to a ski area on my 38 acres of pasture for horses and mules. If I posted what comps are here, heads would explode. I'm going back to Wyoming, this place now (stinks) and I'm being polite so I don't get cancelled.

If you want to play here bring a million If you want to stay bring another million!

Quite variable here (cropland) as to locatin close to other expanding farmers ( semis are increasing the range today), yield capability on 3 crops, corn, hay, beans, but mostly field size. with todays large equipment, small irregular fields bring much less per acre. Prices range from 5K to 12.5 K but much less land is being sold the last few year. Many can get 250-325 per acre for rent 5 ton dry matter hay ground and 20 ton corn silage ground so not much advantage to be selling and looking for a place to invest the money in the current market and pay the capital gains. Spouse can inherit and or create trust so kids can draw rent payments as well. Around here many would prefer to rent land and expand cow numbers.

Bryce

43 acres across the road from us just sold for 3.2 million. No buildings.

I looked at the map / link Mike Cope posted and from what I've seen locally, prices for prime farmland was about 3000.00$ short.

Land for development; $112,069 Per acre.

2.3 million for 77 acres of clay field with nothing on it.

400 give or take a few just sold here for 4 million. Has a house on it that needs much work, nice sized steel building but doesn’t seem well built and couple large grain bins. You’ll always pay into the drainage district ( no idea what that costs) and several smaller creeks that run through. Out of the 400 or so I have no idea how much is in crop land but that price seems crazy to me, but new vehicle prices seem crazy to me also but as long as people keep buying the price sure won’t go down.

Farm subsidies. This is near me in Illinois. Local farmer and family farm approximately 7-9K acres. I looked up the subsidies a few years ago and both he and his wife got 1 million each from the government. He also owns one of the breweries in town and a bakery that will soon open.

We have about 2000 acres of grass rangeland going to auction at the end of the month here.

I’ve been eyeballing the homestead, it’d be awesome to own along with just 40-60 acres.

It’s fully expected to bring four figures per acre minimum.

For reference, with the current calf market and where interest rates are, you wouldn’t even be able to cover your interest at $1000/acre. From a production standpoint.

According to this it goes for just shy of 7000 an acre where I live at. Farm down the road I've hunted and trapped for years, they have a realtor trying to sell two 10 acers lots for $250,000 ea.
Farm rent is 200 to 350 an acre.

Russ

South Dakota was my dream destination. When I first started looked adds talked about how many cattle could be run, how much hay could be produced, etc. Now all the adds talk about scenery and hunting and often dont mention cattle at all. I had to give up that dream.

Locally a 400 acre tract just sold for $4000 per acre. Roughly 100 acres of it was bluffs and near verticle land. Maybe another hundred acres was cedar- Limestone scrub. The balance was marginal poor timberland. Bought by a local attorney for a hunting property.

I have a property in North Central Alabama where developers are offering me $40,000 per acre.

Either way, I think that it is too much money.