New data from the U.S. Department of Agriculture shows 10 percent of all farmland will be transferred to new ownership by 2019. USDA says farmland owners planned to transfer 93 million acres by 2019. Landowners anticipated selling 3.8 percent of all farmland, with just 2.3 percent planned to be sold to non-relatives. A larger share of land, 6.5 percent, is expected to be transferred through trusts, gifts, and wills. The share of farmland available for purchase by non-relatives from now until 2019 will likely rise above 2.3 percent as some individuals who inherit land may choose to sell it, according to USDA. And, those who inherit land but don’t sell may decide to rent the land to farm operators.
Data from 2014 shows 39 percent of all farmland was rented and 61 percent was owned by farm operators.
Source: NAFB News Service