No-Till Farming Study Shows Benefit to Midwestern Land Values
hubie writes:
Farmland values in the Midwest increase when no-till farming becomes more prevalent:
No-till farming, considered to be a more environmentally friendly farming practice that reduces soil disturbance when compared with conventional practices, appears to have an important benefit besides reducing soil erosion and nutrient runoff.
A new study from North Carolina State University, capturing county-level data from 12 states in the U.S. Midwest, shows that no-till farming increases agricultural land values, with a 1% increase in no-till farming translating to a $7.86 per acre increase in land values across the Midwest. In Iowa, the data show a $14.75 per acre increase in land value with a 1% increase in no-till farming.
[...] "This study suggests that farmland benefits translate into land value benefits, which is typically not considered in debates on no-till pros and cons, and ultimately whether or not conventional-till farmers should convert to no-till practices," Rejesus said.
No-till farming practices leave crop residue on farmlands after harvesting. Farmers plant seeds the following season through the remaining residue. No-till farming typically reduces labor and fuel costs for farmers when compared with traditional practices, although the academic literature also shows disparities in terms of no-till effects on crop yields and soil productivity. About 37% of U.S. farm acreage uses no-till farming, with strong adoption rates in the Northeast, the mid-Atlantic states and the Midwest.
A side benefit is that if farmers don't need their tillers, they can use them to play Doom.
Journal Reference:
Le Chen, Roderick M. Rejesus, Serkan Aglasan, et al., The impact of no-till on agricultural land values in the United States Midwest [open], Amer J Agr Econ, 2022. DOI: 10.1111/ajae.12338
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