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| It would be fun to read old editions of the same report. It would probably be laughable to see how off the mark they've been, or how they just follow recent history.
In 2010 when land was just starting to jump the cost of land was probably pretty reasonable compared to cost of inputs and commodity prices. Everyone thought it was way too high. Now those prices look pretty good and the commodity prices are much worse. How price is perceived has way more to do with recent history than ability to pay. I like to compare it to gas prices - psychologically how people feel mainly depends on what the price was last week. | |
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Purdues farmer sentiment
