Factors Affecting Farmland Markets. The Changing Landscape of Ag Banking in Illinois IBA Ag Banking Conference Sept. 7-8, 2006 – Springfield Illinois. Bruce J. Sherrick University of Illinois. visit us at: http://www.farmdoc.uiuc.edu/. Outline:. Background, Ag B/S and Lender Shares
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The Changing Landscape of Ag Banking in IllinoisIBA Ag Banking ConferenceSept. 7-8, 2006 – Springfield Illinois
Bruce J. Sherrick University of Illinois
visit us at:http://www.farmdoc.uiuc.edu/
US Totals, source USDA
“We have two great sources of profit in farming: first, rise in the value of the land; and second, profit on the production of farm crops. The first has been the chief source.”
“Illinois farmland will only experience about 4-5% average appreciation in 2005” -Bruce Sherrick, 2004
- George Morrow, 1886
“I was wrong. Again.” -Bruce Sherrick, 2004, 2005, 2006, etc.
cont. compounded increase of 5.7% per year 1970-2006
…leads to some exceptional localized events and difficulty in assessing “average” value
counter to premise of many debates on “low returns”
2005-2006 Land Value Trends
visit farmdoc on the web at:http://www.farmdoc.uiuc.edu/