A recent $30,000 per acre land sale in Sioux County, Iowa, sends signals into the land market in North Dakota, South Dakota, Minnesota and even as far away as Indiana.
Year-end purchases of farm equipment seem strong, according to partners in Lake County International, founded in 1962 at Madison, South Dakota, and operated as a one-site dealership by the Bloom family.
In inflation-adjusted 2022 dollars, net farm income would be at its highest level since 1973 and net cash farm income at its highest level on record, according to the USDA.
Last winter's uncertainly on fertilizer inputs has subsided somewhat. Flexible or not, any lease is likely to reflect the strong prices for commodities and the demand for cropland.
LeRoy and Rosemary Helbling of Mandan, North Dakota, farm with International Harvester equipment that is mostly 30 to 40 years old, kept in pristine condition. They raise crops primarily as feed for their Hereford herd of cows.
Though a farm disaster was only declared in two South Dakota counties, small businesses in other neighboring counties may also be eligible for funding.
Brian Bjork, 62, (pronounced “Byork”) a farmer from Forman, North Dakota, is selling his machinery piecemeal after making the decision in December 2021 to retire from farming. His reasoning: used equipment values are “hot” and unlikely to improve. He’ll enjoy retirement near family and will work for a young neighbor who will rent his land.
The NCUA has revised its strategic plan to clarify that the agency will not take regulatory action based on “climate-related financial risks” to discourage credit unions from lending to “family farms and others in the agricultural sector as well as businesses tied to the fossil fuel industry.”
Nineteen U.S. Senate Republicans are asking President Joe Biden and his administration for help to counteract farm fertilizer price hikes in the wake of the Russian invasion of Ukraine, other causes.
"Tenants have the right for a crack at a reasonable profit on farming the land, while landlords have the right to expect a rental rate comparable to similar land in the area. Both sides are equally important, and both need to be reflected in the final agreement."
America's diverse family farms remain the backbone of U.S. agriculture, according to a report from the USDA. But those farms continue to come in many shapes and sizes.
2020 was a memorable year for U.S. agriculture, marked by the pandemic, increased federal aid and more exports to China, according to the chief economist of the American Farm Bureau Federation.
