By Daily Crux Editor Brandon Herrin:
Falling victim to the wider real estate crisis, U.S. farmland prices fell for the first time in 21 years...
As of the start of 2009, farmland prices dropped 3.2% year-over-year. But don't plan on this becoming a downward trend. "The market is taking a breather, but demand fundamentals are still in place," says John Conrad of Hancock Agricultural Investment Group in Boston. Conrad believes with the recovering economy, rising food demand, and diminishing farmland supply the market could return a potential 10% a year.
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