Farmland prices holding steady - WGEM.com: Quincy News, Weather, Sports, and Radio

Farmland prices holding steady

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Land sold in Adams County Land sold in Adams County
Farmland in Adams County Farmland in Adams County
A plot of land for sale A plot of land for sale
QUINCY, Ill. (WGEM) -

Corn and bean prices may be lower than average, but farmland values in the Tri-States remain the same, according to the American Bankers Association.

Local farmer and land assessor, Rick Edwards, said it's typical to see land values go down when corn and bean prices decline. 

Edwards said while land prices remain the same, less land is becoming available and return on farmland investment could take a dive in the future.

"The land prices in the future are going to be dictated very closely by farmers profitability. If they make good money, they tend to spend it," Edwards said. "Rather than investing in stocks and bonds, a lot of farmers prefer to buy land because they know what they're buying."

Edwards added farmland in Western Illinois tends to cost the same compared to other parts of the state, but yields are typically higher in other areas in Illinois.

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