“What’s next for Farmland in the Midwest” will be the topic of the 2014 Illinois Land Values Conference to be held March 20 in Bloomington, Ill. The annual event is sponsored by the Illinois Society of Professional Farm Managers and Rural Appraisers.
“The sharp decline in our commodity prices is reverberating throughout Illinois agriculture, and has caused an end to the 12-year uptrend in land values that began in 2001. Farmland is what it earns - - and we see pressure on our profits in the near future,” says Dale E. Aupperle, AFM, ARA, President of Heartland Ag Group Ltd., Forsyth, Illinois, and General Chairman of the event..
“All markets experience cycles and corrections are a healthy part of that process!” he explains. “Illinois farmland rose 66 percent in the last four years … it will be interesting to see what’s coming at us next,” he notes.
Topics and speakers on the program will address “What’s next for farmland in the Midwest” presented by Dr. Brent Gloy, Purdue University; “What’s it going to cost?” with an overview of monetary policy by David Oppedahl, Federal Reserve Bank of Chicago; a look at “Leases ad Cash Rents” from Steve Johnson, Iowa State University; and the annual Farmland Values and Lease Trends Report presented by Aupperle and Gary Schnitkey, Ph. D., from the University of Illinois. Everyone attending will also receive a copy of the 2014 Report.
The Land Values Conference will be held at the Doubletree by Hilton in Bloomington and is open to the public. There is an attendance fee of $65 for members of ASFMRA and the Realtor’s Land Institute and $75 for the general public. “Pre-registration is recommended but no advance registration is required,” Aupperle states.
The half-day program is set to get underway with registration at 7:30 that morning and wrap up shortly after noon.
Details on the program and registration information are available at http://www.ispfmra.org/.