Think long-term with wild land prices

Some Corn Belt values have seen their sharpest price jumps ever. Crop prices have been good. Interest rates have been low. Farm incomes have been healthy. Makes for a healthy outlook for farm land values, right? There is bad news, though. Interest rates can't get much lower. There's a lot of uncertainty about this year's crop yield potential. And, both fixed and variable costs to raise corn and soybeans continue rising. Ultimately, it's best to take a longer-term view of both land values and your ability to keep up with them instead of remain beholden to a shorter-term perspective.