The NCREIF Farmland index returned 2.08% in the first quarter -- its lowest first-quarter return since 2010, when the index gained 1.11%.
The first-quarter return consisted of 1.26% appreciation and 0.82% income return.
Permanent cropland had its highest first-quarter return since 2006 at 3.64%, while annual cropland returns were just below 1% in the quarter.
The Farmland index return for the trailing 12 months was 12.26%, down 519 basis points from a year earlier.
