Value of good farmland continues to rise

Published: Nov. 19, 2020 at 7:34 AM CST
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EAU CLAIRE, Wis. (WEAU) - The value of good farmland continues to go up. According to numbers from the Chicago Federal Reserve, land values went up in the Midwest by 2% last year. That’s the best increase since back in 2014. Indiana saw the highest increases at 6% followed by Wisconsin with a 3% gain while Illinois land increased by 2% and Iowa by 1%. The national trend also saw mostly higher land prices, except in Nebraska where prices fell by 4%.

USDA check writers have written checks totaling just over $10 billion to farmers enrolled in the second Coronavirus food Assistance Program. So far those checks have gone out to 616 thousand farmers. Corn growers have gotten $2. 76 billion so far with cattle producers getting 2.21 billion, soybeans have gotten just over 1 billion, dairy farmers’ checks are up to 981 million dollars, wheat growers have gotten 550 million and hog producers have received 459 million dollars. Iowa continues to get the most money from the program--$953 million, followed by Nebraska, Minnesota at $665 million, then Illinois, California, Kansas, Texas, South Dakota, Wisconsin and North Dakota as the top 10 states getting funds from the program. Wisconsin farmers have gotten over $441 million from CFAP 2. Checking the numbers for CFAP1, it looks like payments have totaled $10.42 billion with that program scheduled to be de-funded on December 11th with still some discrepancies to be worked out over final payments.

Iowa Senator Charles Grassley, the senior Republican in the U.S. Senate and a fierce defender and supporter of American farmers, saw his record voting streak come to an end this week. Since 1993, the 87 year old Grassley has been in the Senate chambers to cast 8,927 consecutive votes, a record for the senate. Grassley tested positive for Covid-19 earlier this week and is isolating at his home in Washington. The senator who had the longest unbroken voting streak before Grassley was former Wisconsin Democratic senator, William Proxmire.

It’s time for another survey from the National Agricultural Statistics Service. This time it’s for the December County Agricultural Production Survey. Selected farmers across the country, including some in Wisconsin, will be contacted to find out about total acres planted this year and how many of those acres were actually harvested, yields and how much of the crop is stored on the farm.

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