This year has included a lot of comparisons back to 2014. That year was the year that grain prices declined after a multi-year run at historic highs, peaking in August 2012. 2014 was also the year that land values declined in reflection to the decline in grain markets.
Crop results this season were influenced by weather extremes on both ends. Planting season was challenging with record high rainfall in April, May, and June.
Crop Revenue = Price/bushel x yield. As of November 1st, a good share of the Midwest knows the second part of this equation. An unprecedented dry period lasting nearly all of September and October allowed for rapid crop dry down and harvest this year.
During the week of September 23, 2024, I had the opportunity to travel to Washington DC as part of the ASFMRA’s Leadership Excellence Program. This learning and advocacy program is a joint venture between the American Society of Farm Managers and Rural Appraisers (ASFMRA) and Corteva Agriscience to help equip the next generation of leaders in the farm management and appraisal business.
A growing part of the Stalcup Ag Service’s appraisal and consultation business has been centered around helping families decide how to divide the family farmland into separate ownership. Often times farmland is owned in various types of co-ownerships where each individual owns an undivided interest in the farmland.
