Farmland Values: Are They Really Falling?

In our 2014 year in review we noted that 2014 might go down as the year that farmland values and rents stopped shooting higher. At that time the reports on farmland values were a bit mixed with the majority showing a slight softening in the market. Today, crop prices have continued to drift lower.  We thought it would be a good idea to attempt to summarize some of the land market data from around the country.  In doing so it appears clear that land values are softening throughout much of the Midwest.  The obvious questions that everyone are asking is how much have they fallen and how much further might they fall?