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  •  Price of farmland in the Midwest is at an all time (4+ / 0-)

    high.

    So, the people doing the farming don't seem to be too concerned.  Prices per acre were up 32% in 2011 year over year!

    •  Meanwhile, they can't give away farmland in... (4+ / 0-)

      Texas. What does that tell you? ;-)

      •  Tells me you're wrong. Prices are up. (0+ / 0-)

        Despite Drought, Texas Land Values Rose In 2011

        Despite the worst drought in recorded history, ag land values in Texas followed the national trend upward, with some classes of ag land posting double-digit gains in value in 2011, according to the Federal Reserve Bank of Dallas.

        However, ranchland values didn’t enjoy quite the jump seen in farmland. Bankers responding to the Dallas Fed’s quarterly ag survey said the value of ranches was mixed, ending the year with about a 2% gain. Irrigated crop land, just as in other regions of the U.S., showed a significant gain in value, up 14%, and dryland values rose about 6%.

        While the outlook is mixed, bankers generally expect the upward trend in land prices to continue into 2012; 16% of the bankers surveyed expect an increase, while 6% anticipate declines.

        Yes, Texas droughts have had their effect.  But beef prices are up because of the shortage and strong demand, so they are still making money.

        Your alarmism is not shared by everyone, it seems.  And I don't think anyone can tell what the next few years will bring.  

    •  What makes you think (4+ / 0-)
      Recommended by:
      kyril, elwior, Matt Z, DSC on the Plateau

      that the people bidding up prices on farmland are the people doing the farming? The view from a computer terminal in Riyadh can look very different from the view from a tractor cab in east Texas.

    •  It's demand, not supply (2+ / 0-)
      Recommended by:
      elwior, Matt Z

      Crop yields are rather variable here in the Midwest, but prices for commodity crops are very high due to high world population and the fact that Indians and Chinese now have enough money to eat some meat. So that makes farmland look attractive. Also, even with global weirding, it's still a rather stable asset for the big banks to hold in their portfolios.

      Male, 21, -4.75/-6.92, born and raised TN-05, now WI-02, unapologetic supporter of Obama and Occupy. Tammy Baldwin for Senate and Recall Walker!

      by fearlessfred14 on Thu Feb 02, 2012 at 07:13:45 PM PST

      [ Parent ]

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