by Jared Augustine

Farmers across Minnesota are completing harvest at a near record pace. Despite a historically wet spring, this harvest season has been ironically dry, allowing many to complete harvest earlier than most years.

Yield reports have varied widely, with beans underperforming a lot of expectations, and corn doing a little better than expected for a lot of folks that we talked to. I have heard of many reports of 190- to 220-bushel-per-acre corn, and 50- to 60-bushel-per-acre beans.

Unfortunately, many producers in areas affected by heavy spring rains are not seeing those yields and are hopeful that next year will produce better results.

Overall, a subpar crop year with low commodity prices has led to a slightly tempered land market in Minnesota, but fewer farms coming to the market in 2024 have left values mostly steady. With a slew of upcoming farm sales and auctions slated for November and December throughout the region, time will tell how farmland buyers will be able to absorb land coming to the market, with less available cash on hand than a year ago.

Throughout the Corn Belt, we have seen reports of land sales being 8% to 10% lower than a year ago. While we are off from the highs of the past several years, we expect quality farms to continue to bring a good price, although there is no knowing how long that will last.

Looking forward, the key to a successful farm sale will be realistic seller expectations for their farm and ensuring all possible buyers are well-informed and involved in the sale. The difference between a good sale and no sale might just be one buyer choosing to participate. Recent sales follow:

Martin County. West of Winnebago, about 150 acres sold for $12,000 per acre. The farm consists of 148.15 tillable acres with a Crop Productivity Index of 91.8.

Traverse County. East of Wheaton, about 51.8 acres sold for $8,200 per acre. The farm consists of 48.61 tillable acres with a CPI of 91.9.

Marshall County. West of Stephen, about 120 acres sold for $4,460 per acre. The farm consists of 116 tillable acres with a CPI of 89.7.

McLeod County. West of Echo, about 119.37 acres sold for $8,380 per acre. The farm consists of 61 tillable acres with a CPI of 91.4.

Yellow Medicine County. West of Echo, about 81.18 acres sold for $12,260 per acre. The farm consists of 78.86 tillable acres with a CPI of 92.9. Other sales within the county include:

Otter Tail County. South of Foxhome, about 230.43 acres sold for $4,820 per acre. The farm consists of 222.56 tillable acres with a CPI of 74.6.

Augustine is with Hertz Farm Management Inc. in Mankato. Hertz Farm Management compiled the list but did not handle all sales. Call Hertz in Mankato at 507-345-5263, or 800-730-5263, or visit hertz.ag.