In sum, state-level aggregate farmland prices exhibited relatively modest changes from 2025 to 2026. Respondents suggest that the majority of market forces are placing downward pressure on farmland prices, so it is not surprising that they expect modest declines through the remainder of 2026.
This paper computes a ratio equivalent to the P/E ratio for farmland, the farmland price-to-cash-rent ratio (P/rent), and discusses trends in the P/rent ratio.
June’s CPI and PPI both cooled, and the cooling reaches all the way back to Stage 1 — consistent with a genuine, if possibly temporary, easing of the energy shock rather than a one-month statistical blip. But most of the movement inside the food basket this month — dairy’s reversal, the citrus and lettuce climate stories, the tomato tariff baseline, Brazil’s coffee cycle, and the beef–pork divergence — traces to category-specific supply and policy dynamics that would be happening with or without the conflict.
