From PrairieFarmer.com July 2023 Digital Edition: The Supreme Court delivered a landmark decision on May 25 that will significantly curtail the Environmental Protection Agency’s ability to regulate certain bodies of water.  In a decision that was technically unanimous, the court ruled in favor of an Idaho landowner in the long-running Sackett v. EPA case.

                                                            Photo by Sharrocks/Getty Images

From Successful Farming: Higher interest rates and weaker commodity prices may slow the momentum for even-higher farmland values, said the Chicago and Kansas City Federal Reserve Banks in quarterly reports.

Photo: Photo Credit: USDA

From farmdoc daily: they look at the downward pressures on farmland prices in 2023.  Both cash rents and farmland prices have increased over the years.  Farming returns likely will decline from 2021 and 2022 levels and interest rates likely will remain at higher levels than in recent years.  Both declining returns and stable interest rates suggest downward pressures on farmland prices.  While downward pressures may occur, those price declines may be in the future.

This parcel of land in Burleigh County is irrigated by a direct pipeline from the nearby Missouri River. Pifer’s co-founder and president Kevin Pifer believed its unique qualities helped steer the sale price into “likely” record territory.  Contributed / Pifer’s

A recent Pifer’s auction drew over 50 bidders for a “rare” offering: irrigated farmland in central North Dakota. The final sale price of $8,000 per acre is thought to be record-setting

From USDA – 

Cropland cash rent paid to Wisconsin landlords in 2023 averaged $156.00 per acre according to the USDA, National Agricultural Statistics Service. Non-irrigated cropland rent averaged $151.00 per acre, $6.00 above last year. Irrigated cropland rent averaged $268.00 per acre, $18.00 above 2022. Pasture rented for cash averaged $37.50 per acre, $1.50 above the previous year.

Wisconsin’s farm real estate value, a measurement of the value of all land and buildings on farms, averaged $6,200 per acre in 2023, according to the USDA, National Agricultural Statistics Service – Land Values 2023 Summary. This was up 9 percent, $500 per acre higher than last year’s value.

Cropland, at $6,710 per acre, was $710 higher than last year. Pasture, at $3,150 per acre, was $250 above last year.

From Farm Policy News – Yesterday, the Federal Reserve Banks of Chicago and Kansas City released updates regarding farm income, farmland values and agricultural credit conditions from the second quarter of 2023.  The Federal Reserve…

Graph from the Federal Reserve Bank of Chicago, AgLetter-Aug 2023

From farmdoc daily: they look at the average Illinois farm real estate value, which is $9,300 per acre in 2023.  That is a 4.5% higher than the 2022 average of $8,900 per acre and is the third highest increase since 2015.  With a 4.5% increase in the average farm real estate value from 2022 to 2023, the average Illinois farm real estate value is now 24% higher than the value of $7,480 ten years ago.