Planting season is once again upon us. In comparison to the great pandemic-inspired uncertainty that blanketed the farmland market during the 2020 planting season, the current farmland market is focused on a shift higher, with broad strength, depth and resiliency.

There are several reasons for this market-wide strength: multiyear highs in commodity prices, low interest rates, strong investor demand, limited farms for sale and ongoing government support (e.g., Coronavirus Food Assistance Program 3 payments moved forward in late March). All of these factors provide the combination of ingredients needed to fuel the market moving higher.

Yet, there are many questions to be answered in the coming months. These questions specifically include how tax policies may change — for capital gains, estate-related policies, and tax rates for individuals and corporations alike. Each of these policy areas is sure to impact agriculture.

But nothing has yet changed significantly enough to move the market off its current course. So, for now, I am generally optimistic about land values in 2021. The sales detailed below show just how much energy there is in the current farmland market.

Northwest

Clay County. Northeast of Spencer, 152 acres recently sold at public auction for $11,500 per acre. The farm consists of 148 tillable acres with a CSR2 of 85.1, which equals $139 per CSR2 point on the tillable acres.

North central

Kossuth County. Near Burt, 165 acres recently sold at public auction for $11,200 per acre. The farm consists of 154 tillable acres with a CSR2 of 78.8, which equals $152 per CSR2 point on the tillable acres.

Northeast

Buchanan County. Northeast of Independence, 80 acres recently sold at public auction for $12,100 per acre. The farm has 76 tillable acres with a CSR2 of 82.2, which equals $155 per CSR2 point on the tillable acres.

West central

Monona County. 116 acres, located southeast of Moorhead, recently sold at public auction for $7,575 per acre. The farm consists of 102 tillable acres with a CSR2 of 47.7, which equals $180 per CSR2 point on the tillable acres.

Central

Boone County. Near Boone, 195 acres recently sold at public auction for $11,900 per acre. The farm consists of 194 tillable acres with a CSR2 of 87.4, which equals $137 per CSR2 point on the tillable acres.

East central

Linn County. East of Ely, 60 acres recently sold for $7,100 per acre. The farm consists of 58 tillable acres with a CSR2 of 55.9, which equals $131 per CSR2 point on the tillable acres.

Southwest

Montgomery County. South of Stanton, 23 acres recently sold at public auction for $4,900 per acre. The farm consists of 94 tillable acres with a CSR2 of 65.9, which equals $98 per CSR2 point on the tillable acres. A total of 83 acres of the tillable cropland is enrolled in the Conservation Reserve Program, with an annual payment of $250 per acre through Sept. 30, 2025.

South central

Madison County. South of Dexter, 174 acres recently sold for $5,827 per acre. The farm consists of 123 tillable acres with a CSR2 of 61.5, which equals $134 per CSR2 point on the tillable acres. The balance of the farm was in pasture.

Southeast

Jefferson County. North near Pleasant Plain, 39 acres recently sold at a virtual online auction for $10,100 per acre. The farm consists of 38 tillable acres, with a CSR2 of 85, which equals $122 per CSR2 point on the tillable acres.

Hensley is president of Hertz Real Estate Services, which compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500 or 800-593-5263, or visit hertz.ag.