Despite falling grain prices and lower farm incomes, high-quality farmland remains in demand. Farm ground in Clinton, Iowa, recently sold for $18,100 per acre, and in Ray County, Missouri, a parcel of 696 acres sold for $17,241 per acre.

Kansas State University Extension Associate Robin Reid notes that while land values are resilient, a slowdown is emerging. He doesn’t expect any major decreases in the short term. Farmers continue to hold influence in the market, but sustained low profitability could impact land values over time.

Iowa State University Assistant Professor of Economics Rabail Chandio predicts mild declines in land prices, similar to past corrections.

While cropland values may be slowing, strong cattle prices are boosting demand for pastureland. This is partly driven by hunting interests. Reid highlights a rise in non-traditional buyers of farmland, including out-of-state investors and retirees selling inherited land.

Despite concerns over foreign ownership, only a small percentage of land is foreign-owned. Overall, the land market remains dynamic, with strength in some sectors and softening in others.

Read more about trends in farmland values here.