Nearly 80% of surveyed realtors forecast land values will be up 5-10% in 2022. About 6% expect land prices to actually drop 5%, I would love to talk to that group. I guess those in the drop group would see a possible farm crisis towards year end? The high inputs in combination with a grain price crash? I could see that happen, countries that now hoard food & feed may be forced to put supplies on the market as inflation ends and deflation starts. But for now, the green flag is out for land buyers.
We talk about difference in fuel prices, I would hate to have a independent gas station now. Other day going past Sheffield their Caseys had $5 diesel, going through Hampton, their Caseys was was 20¢ cheaper than Kwik Star. Talked to a guy down there who said a independent station with a McDonalds attached had gas prices lit up but sign said "no gas" but his convenience store was open.
That`s like 15 or so years ago gas prices fluctuated in huge swings and the small town station owner had filled his tanks with cheap gas selling for $2,40 while other stations were at $3. He said "I`m going to give customers a good deal" which is noble, but when he had to fill his tanks again it was high priced and then gas prices went down and he was stuck with it. He went broke and the town had to dig up his underground tanks because he took off.
Corn, beans mixed to lower, Dow up 379, RBOB up 10¢ Have a profitable day.
