June 21, 2018

Farm Prices: Higher Still

The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) released their monthly Agricultural Prices report on Friday. In part, the NASS report stated that, “The preliminary All Farm Products Index of Prices Received by Farmers in December, at 151 percent, based on 1990-92=100, increased 5 points (3.4 percent) from November. The Crop Index is up 10 points (6.5 percent) but the Livestock Index is unchanged. The All Farm Index and All Crop Index are at record highs.”

The report also included graphical illustrations of prices received for key program crops, including, corn,soybeans, wheat and cotton.

As the market price of some of these commodities ratchets upward, so does the value of farmland.