Land Expo 2026

The 19th annual Land Investment Expo took place January 12–13 in Des Moines, Iowa, hosted by Peoples Company. The Promised Land team had the pleasure of both attending and presenting during one of the breakout sessions. The two-day event featured a Farmland Master Class on January 12, followed by dynamic presentations on January 13 from world-class economists, investors, farmers, agribusiness professionals, and other subject matter experts. Attendees represented a diverse range of backgrounds, including wealth managers, investment advisors, production agriculture professionals (farmers, ranchers, and vintners), land management and acquisition specialists, and educators. Sessions challenged listeners while offering a wide breadth of content, ranging from land values and returns to tariff disputes and sustainable farming practices.

Geopolitical strategy expert Peter Zeihan kicked off the conference with his presentation, “And Here We Are… At the End of the World.” Despite the ominous title, his commentary was not entirely negative, and his humor brought levity that even the most serious attendees could appreciate. A frequent Land Expo speaker, Zeihan is particularly adept at connecting global demographic trends and geopolitical events to their implications for the U.S. agricultural economy.

Much of his presentation focused on global population dynamics, including birth rates and aging trends, and how these factors influence economic growth, technological advancement, and infrastructure. China was a major point of emphasis, as the country faces a significant demographic challenge. Its one-child policy, in effect from 1979 to 2016, was implemented to curb what the government viewed as unsustainable population growth. However, the policy also led to unintended consequences, including a rapidly aging population and a severe gender imbalance, as cultural preferences for male children resulted in the widespread underreporting or abandonment of female births. Today, China faces a shrinking workforce and a surplus of working-age men with limited prospects for marriage and family formation. According to Zeihan, these demographic shifts pose serious challenges for China’s labor supply and threaten its long-term position as a global economic powerhouse.

Zeihan then turned his attention to the United States, discussing both demographic trends and the current political landscape. He noted that a wave of executive orders issued by President Trump reflects, in part, Congress’s ongoing difficulty in reaching decisions. Zeihan argued that globalization was always destined to fracture and that Trump merely accelerated this process. He also touched on the USDA’s challenges in implementing effective policy amid organizational strain and staffing shortages following recent federal employment cuts. These remarks served as a fitting introduction to the next speaker, USDA Deputy Secretary Stephen Vaden.

Vaden took the stage and responded directly to several of Zeihan’s comments regarding USDA inefficiency. He emphasized that the USDA is actively working to reduce its physical footprint while strengthening its capacity as an institution critical to farm economics. Vaden highlighted the agency’s ability to cut approximately $1 billion from its $203 billion budget by closing underutilized and vacant USDA buildings on the National Mall and across the country.

He also discussed plans to shift USDA operations away from Washington, D.C., and closer to its primary stakeholders, farmers. The USDA already maintains a significant presence in Kansas City, where the Economic Research Service is headquartered, making it a likely hub for expanded operations.

Vaden further referenced upcoming ad hoc support payments totaling $12 billion, expected to be distributed in February, to help farmers navigate a low commodity price environment driven by tariffs and strong crop yields and production. While the U.S. and China have reached an interim agreement and China has resumed purchasing soybeans at agreed-upon levels, uncertainty remains regarding the durability of current trade arrangements. In addition, there is ongoing discussion in Congress about potential supplemental legislation to provide additional assistance to farmers if market conditions remain weak. However, until such legislation is passed and funded, it remains unclear whether the USDA will be able to continue providing ad hoc support at similar levels in the future.

Following the morning keynote, the first round of breakout sessions began. Promised Land presented “Opportunity Zone 2.0 Goes Rural,” which explored updates to the Opportunity Zone Program included in the “One Big Beautiful Bill.” Led by John Heneghan and Mark Jablonski, the session highlighted the overall success of the initial Opportunity Zone program and outlined key program changes, with particular emphasis on new incentives designed to promote greater investment in rural Opportunity Zones and Qualified Production Properties (QPP). The presentation is available here.

The lunch keynote session featured a mix of award presentations, a discussion on family office involvement in agriculture, and a dose of what was affectionately described as “lunatic farming.” Peoples Company awarded its Farmer of the Year honor to Kevin Babb of Champaign County, Illinois, recognizing his lifelong achievements in agriculture.

Eric O’Keefe, master of ceremonies and editor of The Land Report, unveiled the Winter 2025 issue, which highlighted Stan Kroenke’s acquisition of nearly one million acres. The 937,000-acre purchase in New Mexico represents the largest single land acquisition in the United States in more than a decade and propelled the Los Angeles Rams owner to the top spot among U.S. landowners.

Following the unveiling, Joel Salatin took the stage and energized the room with his self-described “lunatic farming” philosophy. The prolific author and co-owner of his family farm described himself as a “Christian libertarian environmentalist capitalist lunatic farmer.” His operation provides meat and forestry products to more than 5,000 families, 10 restaurants, and five retail outlets. Salatin is also widely known for mentoring young people and advocating for local, regenerative food and farming systems.

Ron Diamond followed with a highly anticipated session titled “What Is a Family Office and Why Does It Matter?” Diamond, Founder and Chairman of Diamond Wealth, leads a syndicate of more than 100 family offices ranging in size from $250 million to $30 billion. He discussed how high-net-worth individuals are increasingly allocating capital to alternative assets, including farmland, and explored the evolving role of family offices in today’s investment landscape.

Diamond highlighted the massive generational wealth transfer underway, noting that approximately $124 trillion is expected to move from baby boomers to the next generation. As family offices grow in scale and sophistication, they are beginning to compete with, and in some cases encroach upon, traditional private equity. Unlike private equity firms, family offices typically operate with longer investment horizons, a tax-aware approach, and a patient-capital mindset with closely aligned interests.

He emphasized farmland’s ability to support long-term, multigenerational wealth objectives, aligning naturally with the perspective of family offices. Beyond financial returns, Diamond noted a growing desire among family offices to be part of America’s agricultural legacy, viewing farmland not only as a durable asset class, but also as a means of preserving land, supporting food production, and remaining connected to the country’s agricultural heritage. He concluded by posing a central question: “How do the rich people find the smart people, and how do the smart people find the rich people?”

The afternoon breakout sessions covered a wide range of topics, including timberland investment opportunities, farmland market overviews, water management strategies, succession planning, agricultural economics updates, and tax-deferred land strategies. The Promised Land team valued the opportunity to network with other professionals and explore potential collaborations during these sessions.

The afternoon keynote featured Ed Yardeni, President of Yardeni Research, Inc., who shared his outlook on the economy. He characterized the current decade as one of continued economic expansion, describing the U.S. as already six years into what he calls the “Roaring 2020s.” Looking ahead, Yardeni expressed confidence that growth will persist through the remainder of the decade and stated that he does not anticipate a recession in the near term.

Yardeni also addressed the intersection of politics and markets, cautioning investors against allowing political views to interfere with sound investment decisions. He emphasized that opportunities exist regardless of which party occupies the White House, noting that market downturns often present buying opportunities rather than reasons to retreat.

Geopolitical expert Marko Papic closed the expo with a forward-looking presentation titled “The End of U.S. Exceptionalism.” Papic suggested that 2026 will be shaped less by headline geopolitical events and more by economic policy decisions aimed at extending the current cycle. He highlighted the growing role of household wealth, particularly home equity, in sustaining economic momentum.

Papic also noted increasing investor interest in tangible, real assets such as land and minerals, suggesting that this shift should support long-term values. He expressed confidence in the stability of land and real estate markets over the coming decade, stating that he does not anticipate a meaningful change in their trajectory. Papic concluded by suggesting that land values may ultimately rival traditional stores of value, including gold, as investors continue to seek durable, inflation-resistant assets.

The Land Investment Expo 2026 reinforced the increasingly central role that land, agriculture, and real assets play in a rapidly evolving economic and geopolitical landscape. From global demographic shifts and domestic policy challenges to generational wealth transfer and long-term investment strategies, the conference underscored the importance of taking a broad, forward-looking view of agriculture and land ownership. Speakers consistently emphasized resilience, whether through farmland’s durability as an asset class, regenerative farming practices, or patient, values-driven investment, and highlighted the need for adaptability in an era of uncertainty.

For the Promised Land team, the expo offered valuable insights, meaningful dialogue, and opportunities to connect with like-minded professionals committed to the future of American agriculture. As investors, operators, and policymakers navigate the remainder of the decade, Land Investment Expo 2026 reemphasized farmland as a cornerstone of economic stability but also a lasting link to America’s agricultural heritage and long-term prosperity.

Author: Ailie Elmore