“Farmers are carrying less debt than they were 30 years ago, and low interest rates are also a factor because they make it less costly for farmers to borrow. The federal crop insurance program also plays a role in keeping farmland prices high, by covering a majority of losses in revenue or crop yields. Some lenders have reported that a number of farmers are taking out loans based on the current value of their land to take advantage of the farmland boom. Fed officials and some real estate brokers said these buyers could be in trouble if interest rates rose and crop prices fell.”
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