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DECATUR, Ill. — Compared to the last two years, the mid-year land values report, given by Luke Worrell chair of Land Values Conference, at the Farm Progress Show in Decatur
After periods of unprecedented highs and volatility, farmland values across Illinois are “stable to slight declines” for the period Jan. 1 through July 1, 2023, according to the MidYear Snapshot
Prices for fertilizer products have been dropping for months from highs last year after many producers cut down on applications, but producers like Mosaic and Nutrien see demand rising amid bullish fundamentals.
Last year was a banner year for U.S. agricultural exports. International sales of U.S. farm products rose by 11% in 2022, exceeding $196 billion.
The federally subsidized crop insurance program is the largest part of the safety net but net indemnities are not counter-cyclical, said four agricultural economists.