American farmland values skyrocket

Nov 18, 2021

American farmland real estate values jump by 18 percent over numbers from 2020 Q3 in a five-state region.

In the Seventh Federal Reserve District that includes all of Iowa and much of Wisconsin, Michigan, Illinois and Indiana, the Chicago Fed—aka the Federal Reserve Bank of Chicago that serves the District—it is believed that the large increase in values is related to the higher crop prices achieved this year.

The 18 percent increase is the largest such jump in nearly 10 years, noted the Chicago Fed, and added that the valuation increase was aided by high incomes and low interest rates, and corn and soybean futures hitting multiyear peaks thanks to bad weather affecting yield.

On the downside, the high value of farmland adds to inflation concerns as raw material prices rise along with transportation rates—all bad news for consumers.

Photo by Tim Mossholder on Unsplash

Video: Uncover the world of insurance salvage auctions in Canada

What happens to vehicles, farm equipment, machinery and other valuable assets after an insurance claim? They may have more value—and opportunity—than you think.
In this interview, Christine O’Brien, Director of Marketing at Barga, takes us inside the world of insurance salvage auctions and explains how the Saskatoon-based company is making these assets directly accessible to buyers across Canada.
Unlike a traditional auction house, Barga operates primarily online, connecting consumers with a constantly changing selection of insurance salvage sold on an “as is, where is” basis. Buyers can see where an item is located, bid online and, if successful, arrange pickup or shipping.
With new auctions every two weeks, Barga offers much more than farm equipment, with a diverse range of vehicles, machinery, equipment and other unexpected finds coming up for bid.
Christine explains how the auction process works, what buyers should know before bidding, and why insurance salvage can offer some interesting opportunities for Canadians looking for equipment, vehicles or a great deal.
Registration is free, allowing buyers to browse upcoming auctions, watch items that catch their attention and bid when the right opportunity comes along.