The corn and soybean markets continue to experience significant volatility. Agriculture has been fortunate to experience strong commodity prices for the past several years, and U.S. corn and soybean yields have been relatively consistent during that period. Fortunately, demand for those commodities has also been strong.
Landowners Edward Otrusina and Julie Smith believe they’ve found the key to stewardship with one simple yet powerful approach: “Leave it better than you found it.” Today, this guiding principle has helped the siblings establish a sustainable family legacy that will endure for years to come.
Part of what we do as farm managers is work to keep an open dialogue with our farm operators so we can stay up-to-date with our properties. However, if you don’t have a farm manager, it’s up to you as a landowner to have those conversations. But if you don’t have an agriculture background, it can be difficult to know what conversations are critical.
Land values here in early ’23 have certainly been buoyed by the strong profits of 2022; but today, there are also offsetting headwind pressures including higher input costs for the coming planting season, tighter profit margin forecasts, and an interest rate environment that continues to tick higher.