The gamble on the future of hemp is hitting full stride.
A group of buyers spotted an ad for 960 acres of land for sale in Kiowa County with five pivots and good water supply. The group closed a deal for the land in July. Cindy Hake, Farm and Ranch Realty office manager and associate broker, said the buyers plan to convert the farm, which has been in improved grass, to hemp production.
“They seemed really excited about the future prospects for growing hemp in Kansas,” Hake says. “They got in touch with us to see the land, which they think will be ideal for the crop.”
Hemp is legal to grow in all 50 states as a result of language in the 2018 Farm Bill. Its cousin, marijuana, remains illegal to grow or possess in Kansas.
The 960 acres sold in one tract for a total of $3,200,000 or about $3,333 per acre. Because of the private treaty sale, the names of the seller or the buyers were not disclosed.
Farm and Ranch Realty handled the private treaty sale.
Two Rice County farms were sold at public auction in Rice County on Aug. 13.
In one sale, 330 acres of land was sold in two tracts. Tract 1, 120 acres with about 106 acres of cropland and the balance in grass and trees, sold for $2,270 per acre. Tract 2, 210 acres with about 192 acres of dry cropland and the balance in grass and trees, brought $1,000 per acre.
The seller of that farm was the Thelma Ringwald Estate.
In the second sale, about 134 acres of land was sold in two tracts. Tract 1, 80 acres with about 53 acres of dry cropland and 27 acres of pasture, sold for $1,110 per acre. Tract 2, about 54 acres of dryland cropland, sold for $1,300 per acre. The sellers were Bruegger and Brister.
Both sales were conducted by Carr Auction and Real Estate.
About 640 acres of Thomas County farmland was sold at auction on Aug. 27. The highly productive cropland with class II and III soils is located two miles from a blacktop road and close to markets. The property brought $1,450 per acre. The seller was the Diane D. Graham 2003 Trust. Farmers National Company handled the sale.
Farm land auctions have been slow during the summer months but are about to pick up speed — as they usually do in the fall.
Here are some to keep an eye out for:
- Oct. 8. Square section of cropland 2 1/2 miles south of Arapahoe, Colo. Cheyenne County, Colo. Farm and Ranch Realty.
- Oct. 12. 274 acres just off Highway 15, 5 miles south of Washington. American Legion in Linn. Midwest Land and Home.
- Oct. 22. 1,280 acres of irrigated cropland in Gray and Finney counties selling in two tracts. Farm and Ranch Realty.
- Oct. 25. 200 acres Decatur County cropland northwest of Leoville on Highway 383. Farm and Ranch Realty.
- Oct. 29. 320 acres Barton County, irrigated and dryland with producing minerals, east of Ellinwood. Farm and Ranch Realty.
- Oct. 31. 240 acres of cropland and grass northwest of Hill City.
- Nov. 15. 6,000 acres of cropland, grass and land enrolled in the Conservation Reserve Program selling in 15 tracts in Cheyenne Wells, Colo. Farm and Ranch Realty.
- Nov. 19. 480 acres of cropland and grass in Sheridan County, northeast of Hoxie. Farm and Ranch Realty.
- Dec. 10. Machinery and Equipment Auction in Cheyenne Wells, Colo., Farm and Ranch Realty.