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| If land is to experience a 1980s pullback, it will take either much higher land interest rates (the 7.XX% now ain't bad enough) or a prolonged period of much thinner margins IMO. And probably an indifferent Gov, who shrugs off the screams from the first group of bankruptcies. The 80s did not bring only poor farms down, it brought well managed farms down - especially livestock farms around here. The rules of the game changed after and still are.
Now who wants to buy my credits for no-till so I can survive this downturn? I'll spread my cover crop with an electric drone for just a little more. If prices in July are below insurance, should I skip fungicide to sell the reduction in chem and fuel for more credits? Bill Gates has a trip to the world climate meeting coming up so he might be in the market.
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Top is in the land market (look out down below)
