2018 Early Fall Update

Fall harvest started in late September and has been on again off again ever since due to excessive rain in the last week of September and first two weeks of October.  Some corn and soybeans have been harvested with excellent yield results, however very few whole farms are complete due to weather delays.  At the writing of this update, field conditions are very wet and it will take a couple of good drying days before harvest can get started again.  Once combines start rolling I will update this post with some yield results from the counties that we service.

Commodity prices remain very depressed with soybeans leading the way lower due to Chinese tariffs and expectations for a record large corn and soybean crops this fall.  The USDA has announced the Market Facilitation Program for both corn and soybeans.  At the writing of this post, corn will receive $.01/bushel and soybeans will receive $.825/bushel in payments for 2018 with additional funding to be announced later in the year.  We will be taking advantage of this program for clients and will complete the paperwork necessary to qualify for these payments.

Ag. land prices are stable to down slightly over the past several months with low quality farmland showing the largest decreases in value.  Prolonged low commodity prices coupled with uncertainty about trade has created a very cautious market environment.  However, high quality farms continue to sell well with strong interest from local farmers and investors.