Texas | Justin, you and I are looking through the same pair of glasses.
It would be interesting to compare the responses from bankers and investors with producers. I anticipate we would find a gap that is only going to widen.
Old money will no doubt make some purchases, especially if a little weakness shows up. Old money won't buy much though if it is a poor investment.
Just as high grain prices ran the land up, low prices (and rents) will pull it back down, although maybe slower at first.
It all depends on the price of grain. Even inputs or interest rates won't be the final factor. Cheap grain will cheapen everything else. |