The average acre of farmland in Iowa, the top corn-growing state, is worth $7,559, an increase of 1.7 percent from 2019, despite the effects of the pandemic and the accompanying economic slowdown, said Iowa State University on Tuesday. It was the second year in a row of modest increases but land values remain $1,157 below their 2013 peak hit during the commodity boom.
U.S. farm real estate values rode the express elevator to the penthouse during the commodity boom, gaining an average $860 an acre in five years. They are still at elevated levels despite the sharply lower farm income of recent years but may drift lower in the near term, according to two examinations of the farm economy.
Billed as "the magazine of the American landowner, The Land Report says the largest 100 landowners in the nation acquired an additional 2 million acres during 2017, an area larger than Delaware. All told, the 100 largest private land holders own 40.2 million acres, equivalent to the land mass of the New England states with Vermont excluded, said the Washington Post.
Reps. Sean Maloney of New York state and Ryan Costello of Pennsylvania unveiled a U.S. House bill to help young and beginning farmers get established. The sponsors said action is needed because of the advancing average age of U.S. farmers, nearly 60 in the 2012 Ag Census.
A high-resolution search by satellite found 15 to 20 percent more cropland in the world than previously thought and identified India as the world leader, says the U.S. Geological Survey. The USGS says its new map, showing 1.87 billion hectares of cropland, will help "to ensure global food and water security in a sustainable way."
Lawmakers from the Plains and Midwest filed companion bills in the House and Senate to discourage farmers from converting native sod into cropland nationwide by closing a crop insurance loophole. The legislation would require a reduction of crop-insurance subsidies for four years before producers could qualify for them.
Since 1978, foreign entities and individuals have been required to report it to the USDA if they have at least a 10 percent interest in parcels of U.S. farmland totaling 10 acres or more. Yet the USDA does not review the reports for accuracy or completeness and, for lack of resources, does not even investigate if foreign investors are filing the required reports, says the Midwest Center for Investigative Reporting.
Impact investors are now putting more money into food and agriculture than any other sector, using their capital to help ranchers switch to 100 percent grass-fed beef production, to connect small farms to communities with little access to fresh food, and to transition farmland used to grow commodity corn and soy to organic, regenerative systems, says Civil Eats.
As costs have dropped, solar panels are becoming a common sight, including in rural America, where farmers are using solar to offset their costs in a variety of ways, says Civil Eats. When farmers move beyond generating electricity for farmstead use into acres of solar panels, it creates a tussle between clean energy and preservation of open spaces for forests and farms, according to a news site in Connecticut, where solar has the upper hand.