BLOOMINGTON -- The 2018 Illinois Land Values Conference, sponsored by the Illinois Society of Professional Farm Managers and Rural Appraisers, has been set for March 22 at the DoubleTree by Hilton in Bloomington.
“The big news in land values and lease trends is that there is not much news,” says Dave Klein, AFM, ALC, Soy Capital Ag Services, Bloomington, chairman of the event. “Prices paid for farmland around the state have been very flat, if down maybe a little, in the past year. And those involved with farmland rent and lease rates know that the market price of corn is driving those changes.
“What is new are reports that have come from the University of Illinois that allow us to look back over a number of years at very defined trends not only in the prices historically being paid for land but also the types of land being sold on a regional basis,” Klein adds.
This information will be shared at the meeting and is included in the 2018 Illinois Land Values and Lease Trends Report which will be released to all attending the meeting. This report is based on information gathered from ISPFMRA and Realtor’s Land Institute members around the state with regional-specific sales data from the past year.
Klein reports that Dr. David Kohl, professor-emeritus with Virginia Tech University, Blacksburg, Va., will be the keynote speaker at the half-day program. The focus of Kohl’s presentation will be on factors impacting ag land values across the country. He will also provide a general ag economic outlook.
Other speakers on the program include Dr. Bruce Sherrick, University of Illinois, who will direct his comments at the historic trendlines in land values and lease rates. A region-specific summary of the overall Report will be delivered by members of the Society.
“The program will get underway at 8 a.m. on March 22 and will wrap up at noon. It is open to anyone wishing to attend,” Klein adds. Advance registration is requested but not required. The fee to attend is $70 to ISPFMRA and RLI members and $85 to all others. This includes a complimentary copy of the 2018 Illinois Land Values and Lease Trends Report which is valued at $20 per single copy. Registration can be done online at http://www.ispfmra.org/wp-content/uploads/2018/01/2018-Land-Values-Conference-Registration-form.pdf.