What’s happening to farmland values and what may be in store in the future are the subjects of the 2014 Illinois Farmland Values Conference which will be hosted by the Illinois Society of Professional Farm Managers and Rural Appraisers which will be held in Bloomington, Illinois, on March 20.
“We’ve all see an easing of prices being paid for farmland across the state and I think we’re accepting that this was inevitable. But what’s next?” asks Dale Aupperle, AFM, ARA, Heartland Ag Group, Ltd., Forsyth, chair of the annual ISPFMRAS Farmland Values program. “The speakers and presentations that are on the schedule for this year’s Farmland Values Conference will address that subject square on.
“One of the recent drivers on land values has been the near-zero percent interest rates,” he explains. “But that could very well be changing with new leadership at the Federal Reserve Board, and David Oppedahl, at the Federal Reserve Bank in Chicago, will be addressing that subject.”
“Dr. Steve Johnson, from Iowa State University Extension and Outreach, will look at leases and cash rents from a broader, Midwest perspective. It’s always good to know what’s going on around us so we have benchmarks for comparison,” Aupperle continues. “Dr. Brent Gloy, from Purdue University, will also offer his perspective on what has been happening, and what likely could happen, from the farmland values perspective across the entire Midwest.”
“And we’ve just added Dr. Bruce Sherrick from the University of Illinois’ College of ACES to address ‘New Tools and Indicators in Farmland Values.’ This will compare returns on farmland to other assets and potential for developing indexable farmland returns, and demonstrate some useful tools for managing positions in farm real estate,” he says.
There is a $75 registration fee to attend. That includes a copy of the 2014 Illinois Farmland Values Lease Trends Report. Registrations can be paid at the door and advance registrations aren’t required.
For more information on the conference, go to the ISPFMRA website.