U.S. farmland prices increased 12.4 percent over the last year, according to new data from the USDA National Agricultural Statistics Service (NASS). Rod Bain has more details about the recently released 2022 Land Values Summary.
The annual NASS report also notes cash rents saw gains in several categories but smaller in comparison to increases in farmland real estate values. Chief Economist Seth Meyer explains differences in cash rents for farmland versus farmland values.