Insights & Research - old

A Big Step Higher, a Small Step Down for Farm Incomes - Farmer Mac

Sample author — Tue, 26 May 2026 08:25:03 GMT

The State of Rural Capital Markets

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Grains and Oilseeds Supplies Challenged by Big Brazilian Crop - Farmer Mac

Sample author — Tue, 26 May 2026 08:24:26 GMT

Due to elevated commodity prices, corn, soybean, and wheat returns were record-setting in 2021 and 2022. However, Brazil will likely have a bumper crop of corn and soybeans in 2023, pushing up global supply and putting downward pressure on global prices. Operating expenses caught up with grain and oilseed prices, but demand drivers could be strong enough to outrun the higher expenses.

High Interest Rates: A Double-Edged Sword - Farmer Mac

Sample author — Tue, 26 May 2026 08:23:50 GMT

U.S. agricultural exports declined in 2023 and are forecast to do so again this year. The broad decline in commodity prices over the past two years is partially to blame, as lower prices lead to lower sales revenues. However, tighter monetary policy in the U.S., and the resulting strong U.S. dollar, have also contributed to the pullback in export demand. Potential central bank interest rate cuts this year could reduce some of the upward pressure on the U.S. dollar. However, the path for monetary policy this year remains unclear given the robust U.S. economy.

“Pasture” Prime? An Analysis of the Equine Industry - Farmer Mac

Sample author — Tue, 26 May 2026 08:23:10 GMT

The U.S. equine industry continues to evolve, as it has for numerous decades. Replaced by cars a century ago as the primary source of transportation, horses today still serve many roles, both practical and for pleasure. However, the geographic concentration of horses continues to shift due to both demographics and economics. The shift has led to challenges and opportunities for horse owners, regardless of their reason for ownership.

Farmland Price Index Update - Q1 2025 - Farmer Mac

Sample author — Tue, 26 May 2026 08:22:10 GMT

The initial estimate for the Q1 FPI showed farmland prices declining modestly in Q1. The moderate pullback comes amid a slowdown in farmland values in several key agricultural states. Still, strong overall farm incomes continue to provide support for farmland values nationally, with many regions continuing to see rising prices.

Farmland Price Index Update – Q2 2025 - Farmer Mac

Sample author — Tue, 26 May 2026 08:21:37 GMT

Farmland markets sent mixed signals across the country this summer. The USDA released the annual Land Values report in August, which showed a continued march higher for farmland values in every U.S. state. In contrast, the Farmer Mac Farmland Price Index powered by AcreValue (FPI) indicated a decline in the average transaction price in Q2 2025 compared to the same period last year. Both indicators can coexist—the divergence likely stems from the data from which they are derived.

Fields of Plenty: Grain Outlook for 2025 - Farmer Mac

Sample author — Tue, 26 May 2026 08:20:02 GMT

The 2025 grain outlook predicts strong global supplies, with robust corn and soybean stocks, and lower but steady wheat reserves. Favorable weather has supported U.S. harvests, and corn exports are solid, especially to Mexico, Japan, and South Korea. While Brazil and Argentina boost competition in soybeans, U.S. wheat exports are rebounding amid global uncertainty. Overall, grain supplies are ample, but demand trends remain influential.

Understanding Farmland Value Trends: Introducing a New Farmland Price Index - Farmer Mac

Sample author — Tue, 26 May 2026 08:19:18 GMT

Given its role as the bedrock of the agricultural sector and an important economic driver, the current market value of farmland garners special attention from millions of farmers, lenders, investors, researchers, and land professionals. Unfortunately, monitoring trends in farmland values has historically been onerous and involved. To help meet this need, we’ve introduced the new Farmer Mac Farmland Price Index powered by AcreValue (FPI). This innovative index provides a comprehensive view of the national trend in farmland prices, offering a quarterly reference point to help farmers, investors, and policymakers stay informed on farmland markets.

Dairy Prices Firm in 2022 but Are Waning With Global Demand - Farmer Mac

Sample author — Tue, 26 May 2026 08:18:19 GMT

U.S. dairy production climbed in 2022, but global demand for dairy products kept prices ahead of the curve. Prices for cheese, butter, and nonfat dry milk helped buoy the U.S. blended (i.e., all-milk) price received to record levels in mid-2022. However, high feed costs and a challenging economic picture in China could cause some compression in profitability in 2023.

The Great Refinancing is Over. Can Ag Banks Expect a Rebound? - Farmer Mac

Sample author — Tue, 26 May 2026 08:17:33 GMT

Long-term interest rates dropped to historically low levels from 2020 through 2022 in the wake of the Federal Reserve broadly loosening monetary policy. Many borrowers took advantage of this by either refinancing existing debt or borrowing additional money at rock-bottom long-term rates. But not all lenders were able to capitalize on the surge in long-term loan demand. Some banks extended the average duration on loans well beyond historical averages and still saw a decline in farmland loan balances. A return to a more normal interest rate environment has been accompanied by closer-to-normal lending conditions at banks. However, the loan volume slated to reprice in the years ahead could coincide with a jump in loan demand if farm incomes continue to drop. Understanding this dynamic ahead of time may help lenders position themselves to capitalize on it.