Questions on What Farmland Expansion Will Look Like in the Future

When it comes to expanding farms- renting land versus purchasing ag land,- this is what farmers are asking.

“Looking at the age of some of the landowners they rent from and what's going to happen in the succession of that farmland, and say, a good portion of that sells in the by the next generation, when the next, you know, five to 10 plus years, they're wondering, you know, will they be able to keep farming it, number one, you know, renting it, because that's, you know, big part of their operation, or would they be able to have the financial means to buy it?”

That is, Ag, Economic Insights Farmland Analyst, Randy Dickhut. He says that it remains to be seen what will happen when more baby boomer aged farmers retire.

“I think there's a kind of a bump in the number of farmers retiring who will retire, because there's baby boom age farmers that either have retired already and will be retiring, and some of those may not have a successor. And so we go maybe see few more landowners, the next generation sell and will, then, you know, somewhat fewer farmers, virtual sized farmers, be able to buy that land that comes up for sale.”

Ag, Economic Insights Farmland Analyst, Randy Dickhut.