Will Nebraska Farms and Ranches Be Ready for Double Digit Operating Line Rates?

For those involved in agriculture, it has been quite a while since interest rates on farm real estate, equipment, and operating lines have been as high as they are for the industry. As the fall harvest winds down and producers focus on next year, interest rates on operating lines may cause shock. It has been over 20 years since interest rates on operating lines exceeded 10%. To better understand what may be causing interest rates on operating lines to rise, it will be beneficial to understand some basic monetary policy tools the Fed has at its disposal. The tool receiving heavy attention of late, and the one (often incorrectly, but) frequently reported on by the media, is the fed funds rate

MSTI-3 Dual-Use Applications

The Miniature Sensor Technology Integration (MSTI) program will launch MSTI-3 the third satellite in the program\u27s series of satellites, in early September 1994. The MSTI-3 satellite will be instrumented with a visible wedge spectrometer and a MWIR sensor that will support Dual-Use applications. During on orbit operations MSTI-3 will collect data to support ongoing research by the USDA Forestry Service, Jet Propulsion Laboratory, US Fish and Wildlife Services, and US AID AGRHYMET Project. In addition to collecting data in support of these programs, the visible wedge spectrometer will be evaluated for its space-based applications to remote sensing. This paper will review the planned application for the MSTI-3 sensors to collect data for ground water concentration monitoring, observations of forest fires in remote areas, forest biomass health and biodiversity patterns, flooding, volcano heat generation during its dormant phase and the potential utility of increased spectral resolution for determining biomass indices. The MSTI-3 imaging spectrometer will provide much the same ability as the LANDSAT visible imagers but with higher spectral resolution. The sensor uses a 2-D focal plane with a wedge interference filter directly bonded to the CCD. The filter covers 80% of the array with 20% left open to allow use of the full spectral response and therefore enable detection of the dim targets. The spectral response of the sensor is from 600 to 858 run with a spectral resolution of 17 run. The spatial resolution is 30 run with a 8.42 x 7.01 km footprint at nadir. The camera has three selectable frame rates of 1, 10, or 30 hz with 12bit data digitization. In addition to obtaining spectral data, the equivalent of a color photograph can be developed by co-adding images taken as the satellite moves one field of view. The MWIR camera is a 256 x 256 array with a seven position filter wheel of which one filter is identical to the AVHRR cloud band at 3.53 - 4.04µm. The nadir spatial resolution is 42.5, giving a 11 x 11 km field-of-view. The camera has three selectable frame rates of 1, 5 ,or 10 hz with 12bit data digitization. The goal of the MSTI-3 Dual-Use program is to demonstrate the utility of using small satellites for testing an advanced technology sensor, the visible wedge spectrometer, and its application and potential benefits to remote sensing

Evaluating the Impact of COVID-19 on Nebraska Land Auctions and Implications for Future Farm Real Estate Sales in 2021

The Nebraska Farm Real Estate Market Survey and Report 2020-2021 provides insight into recent trends on the market value of agricultural land and cash rental rates across the state. Each year, the special feature section from this report covers topics on new or emerging issues related to the agricultural land industry in Nebraska. These topics reflect interest expressed by panel members and readership of the Nebraska Farm Real Estate Market Highlights Reports. The special feature section in 2021 evaluates the effects of COVID-19 on Nebraska land auctions over the prior year and implications for this transaction method involving future agricultural real estate sales

Nebraska Farm Real Estate Market Highlights 2017-2018

2018 Nebraska Agricultural Land Values Table 1 Average Reported Value of Nebraska Farmland for Different Land Types by Agricultural Statistics District, February 1, 2018 Table 2 2018 Values and Recent Trends by Area of the State Table 3 2018 Values and Recent Trends by Land Class in Nebraska 2018 Land Values Ranges Table 4 Average Reported Value Per Acre of Nebraska Farmland for Different Types and Grades of Land in Nebraska by Agricultural Statistics District, February 1, 2018 2018 Net Rates of Return to Agricultural Land Table 5 Estimated Annual Net Rates of Return by Type of Land and Agricultural Statistics District, Selected Years 2014-2018 Factors Influencing Current Agricultural Land Markets / Characteristics of 2017 Land Market Transactions Table 6 Land Characteristics of 2017 Agricultural Real Estate Transactions, by Agricultural Statistics District in Nebraska Table 7 Types of Financing Associated with 2017 Agricultural Real Estate Sales, by Agricultural Statistics District in Nebraska Table 8 Percent Distribution of Agricultural Real Estate Transactions in 2017 by Buyer Type, by Agricultural Statistics District in Nebraska Table 9 Percent Distribution of Agricultural Real Estate Transactions in 2017 by Seller Type, by Agricultural Statistics District in Nebraska 2018 Cash Rental Rates Table 10 Reported Cash Rental Rates for Various Types of Nebraska Farmland and Pasture: 2018 Averages, Percent Change from 2017 and Quality Ranges by Agricultural Statistics District Table 11 Reported Cash Rental Rates for Pasture on a Monthly Rate Basis for 2018: Averages and Ranges by Agricultural Statistics District Special Feature: 2018 Cash Lease Adjustments on Irrigation Equipment for Cropland Rental Arrangements in Nebraska Table 12 Discount on Cash Rent per Acre When Tenant Owns Power Unit for Irrigation System in Nebraska Statistical Appendix Appendix Table 1 Farm Real Estate Values in Nebraska, USDA Historical Series, 1860-2018a Appendix Table 2 Deflated USDA Farmland Values and Percent Changes for Nebraska, 1930 to 2018 Appendix Table 3 Nominal and Deflated Agricultural Land Values by Selected Types of Land in Nebraska, 1978 to 2018 Appendix Table 4 Average Reported Value of Nebraska Farmland for Different Types of Land by Agricultural Statistics District, 1978-2018 Appendix Table 5 Historical Per Acre Value Range for Different Types and Quality Grades of Land in Nebraska by Agricultural Statistics District, 2014-2018 Appendix Table 6 Estimated Annual Net Rates of Return to Nebraska Farmland for Different Types of Land by Agricultural Statistics District, 1990-2018 Appendix Table 7 Historical Average Cash Rental Rates of Nebraska Farmland for Different Types of Land by Agricultural Statistics District, 1981-2018 List of Figures Figure 1 Nebraska Agricultural Statistics Districts Figure 2 Average Value of Nebraska Farmland, February 1, 2018 and Percent Change From Year Earlier Figure 3 Historical Nebraska All Land Average Value per Acre and Marketing Year Average Price of Corn, Selected Years 1978-2018 Figure 4 Historical Estimated Annual Net Rates of Return by Land Type in Nebraska, Selected Years 1990-2018 Figure 5 Reporters’ Rating of Factors Influencing Agricultural Land Values in Their Areas of Nebraska, February 2018 Figure 6 Entity Responsible for Maintaining Irrigation System as Part of Cash Lease Arrangement in Nebraska Figure 7 Discount on Cash Rent per Acre When Tenant Owns Pivot for Irrigation System in Nebrask

Nebraska Farm Real Estate Market Highlights 2019-2020

Introduction The Nebraska Farm Real Estate Market Highlights 2019-20 report represents the 42nd edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding $1 million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to be on providing unbiased information for agricultural land values and rental rates so industry participants can make educated and informed decisions. This year, the February 2020 survey of nearly 120 expert panel members from across the state provided current information and insight regarding the agricultural land market conditions in their areas. The panel members have been selected on the basis of being actively engaged in agricultural land markets as certified agricultural appraisers, professional farm managers, agricultural lenders primarily focused on agricultural land transactions, and other professionals engaged in the Nebraska agricultural land industry due to the inherit nature of their positions. The majority of panelists participating in the survey have reported annually for a considerable number of years, which provides valuable historical consistency and context to the agricultural land values and rental rates provided. Based on their knowledge of market activity, reporters provide point-in-time estimates of current agricultural land values and cash rental rates for a variety of land types and classes. Comparing these current measures against previous years’ results provides important trend analysis. The appendix in this report includes: the historical UNL data series for Nebraska agricultural land values dating back to 1978, the agricultural cash rental rate series dating back to 1981, and the USDA historical all-land value series. In addition to the point-in-time estimates, panel members provide details regarding actual sales transactions which have occurred over the previous 12 months. This year, the panel provided information on 447 sales that were considered representative of the recent agricultural land market. This gives insight into the characteristics of recent sales as well as benchmark indicators for studying trends. Changes in the nature of market participants engaged in land transactions from year to year may also be ascertained from evaluating this information

Nebraska Farm Real Estate Market Highlights 2018-2019

Introduction The Nebraska Farm Real Estate Market Highlights 2018-2019 report represents the 41st edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding a million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to provide unbiased information on agricultural land values and rental rates so industry participants can make educated and informed decisions. This year, the February 2019 survey of nearly 125 expert-panel members from across the state provided current information and insight regarding the agricultural land market conditions in their areas. The panel members have been selected on the basis of being actively engaged in agricultural land markets as certified agricultural appraisers, professional farm managers, agricultural lenders primarily focused on agricultural land transactions, and other professionals engaged in the Nebraska agricultural land industry due to the inherit nature of their positions. The majority of panelists participating in the survey have reported annually for a considerable number of years which provides valuable historical consistency and context to the agricultural land values and rental rates provided. Based on their knowledge of market activity, reporters provide point-in-time estimates of current agricultural land values and cash rental rates for a variety of land types and classes. Comparing these current measures against previous years’ results provides important trend analysis. The appendix in this report includes: the historical UNL data series for Nebraska agricultural land values dating back to 1978, the agricultural cash rental rate series dating back to 1981, and the USDA historical all-land value series. In addition to the point-in-time estimates, panel members provide details regarding actual sales transactions which have occurred over the previous 12 months. This year the panel provided information on 505 sales that were considered representative of the recent agricultural land market. This gives insight into the characteristics of recent sales as well as benchmark indicators for studying trends. Changes in the nature of market participants engaged in land transactions from year-to-year may also be ascertained from evaluating this information

Nebraska Farm Real Estate Market Highlights 2019-2020

Introduction The Nebraska Farm Real Estate Market Highlights 2019-20 report represents the 42nd edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding $1 million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to be on providing unbiased information for agricultural land values and rental rates so industry participants can make educated and informed decisions. This year, the February 2020 survey of nearly 120 expert panel members from across the state provided current information and insight regarding the agricultural land market conditions in their areas. The panel members have been selected on the basis of being actively engaged in agricultural land markets as certified agricultural appraisers, professional farm managers, agricultural lenders primarily focused on agricultural land transactions, and other professionals engaged in the Nebraska agricultural land industry due to the inherit nature of their positions. The majority of panelists participating in the survey have reported annually for a considerable number of years, which provides valuable historical consistency and context to the agricultural land values and rental rates provided. Based on their knowledge of market activity, reporters provide point-in-time estimates of current agricultural land values and cash rental rates for a variety of land types and classes. Comparing these current measures against previous years’ results provides important trend analysis. The appendix in this report includes: the historical UNL data series for Nebraska agricultural land values dating back to 1978, the agricultural cash rental rate series dating back to 1981, and the USDA historical all-land value series. In addition to the point-in-time estimates, panel members provide details regarding actual sales transactions which have occurred over the previous 12 months. This year, the panel provided information on 447 sales that were considered representative of the recent agricultural land market. This gives insight into the characteristics of recent sales as well as benchmark indicators for studying trends. Changes in the nature of market participants engaged in land transactions from year to year may also be ascertained from evaluating this information