Grain prices have struggled the last four years, and that negative profitability has weighed on farmland values.
The April Purdue/CME Group Ag Economy Barometer showed that the perspective of farmland values drifted lower compared to the February reading.
The April survey dropped four points to 18 percent of producers expecting farmland values to increase over the next 12 months.
Fewer producers are expecting an increase in farmland values by 2024 in April compared to February, falling from 53 percent to 46 percent.
“We did lose optimism with respect to farm land values into the future,” said Jim Mintert, director of the Center for Commercial Agriculture at Purdue University.
Each month, a survey of 400 producers from across the nation are surveyed on a variety of topics in regards to current and future sentiment of the agricultural economy.
