We are pleased to publish the second edition of the Kansas Land Values and Trends book. As you study the information, it is vital to consider the economic context of the sales reported. Land values, which are affected by profitability in the agricultural sector, have been declining over the past few years from their peak in 2015. This decline corresponds to a contraction in profitability of Kansas farms that has been driven by low commodity prices and relatively high costs of production. For many producers, the working capital they acquired during the years of high returns from 2008 to 2014 is nearing depletion as they make their way through tight cash flow situations they have faced during the past 4 years. In many ways, the short-run direction of the agricultural economy in Kansas can be best described as uncertain.
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