The good news is land prices seem to have peaked, and may have dropped a bit in the past year. The bad news is commodity prices and interest rates are low. If commodity prices continue to stay low, farmland prices will decline. If interest rates go up (and they have nowhere else to go), land prices are going to drop.
You need to think long and hard about what that land might go for, and what's the absolute most you're willing to pay. Understand that it's quite unlikely you will be able to purchase the property at a price where it will generate a positive cash flow at today's commodity prices. Are there enough good reasons to buy it even if you'll lose money on it in the short term?
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Today's Featured Article - Updatin The Charging System of Your Older Tractor - by Tyler Woods. Older tractors have externally regulated generators or externally regulated alternators, in some instances. That means there is one device that turns energy from the fan belt into electrical energy,
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