A new report shows Indiana farm values have declined slightly in the past year, but prices have remained relatively steady.
The Farmers National report says decline in farmland values is part of a four-year downward trend nationwide.
Real Estate Broker and Farmers National Farm Manager Steve Lankford says the decline is due to lowered commodity prices, but adds farmers shouldn't be too worried.
"These prices are not bad, they're just going to be an adjustment on cash rental value that will affect the land value," Lankford says.
Lankford says Indiana farmers may have missed out on selling their land for the highest price in recent years, but they still have opportunities to sell their land at a good value.
Lankford says there's no easy way to predict how land values could change in the future, but based on current trends, he expects a further decline in land value over the next few years.