Although the 2018 planting season wasn’t the smoothest with struggles in northern Iowa counties, our growing season is well underway, and crops are developing.
The farmland market across Iowa remains stable. This is the time of year when many owners who are considering their options for a land sale, begin to make decisions as fall approaches.
While summer is typically not a high-volume time for land sales, farms do continue to come to the market. High-quality farms continue to draw the most interest and sell well, compared to farms with poorer soils, waterways or other obstructions. Farmers are the most prevalent group of buyers, although many nonfarming investors are active.
The Trump administration has more aggressively approached our major trading partners with its desire for fair play on the trade front, and the aggressive approach has created nervousness in the grain complex.
With all that in motion, there’s been little attention given to negotiations in Congress relating to the new farm bill. Both the House and Senate are proposing various adjustments to farm policy that will impact future years. This will very likely impact growers and farmland values. Stay tuned for further analysis as new information surfaces.
Pocahontas County: East of Laurens, 108 acres recently sold at public auction for $7,800 per acre. The farm, with a lease in place for 2018, has 104 tillable acres with an 81.7 CSR2 and equals $99 per CSR2 point on the tillable acres.
Franklin County: Recently, 150 acres sold at public auction for $8,900 per acre. It consists of 147 tillable acres with an 84 CSR2. The sale equals $108 per CSR2 point on the tillable acres.
Delaware County: North of Greeley, 103 acres sold for $4,230 per acre. The farm has 97 tillable acres with a 37.2 CSR2, and the sale equals $120 per CSR2 point on tillable acres. Buyer is a local farmer.
Carroll County: In Richland Township, 75 acres sold for $8,550 per acre. With 71 tillable acres and an 82.5 CSR2, the sale equals $109 per CSR2 point on the tillable acres.
Grundy County: In Melrose Township, 155 acres sold at public auction for $6,600 per acre. The farm consists of 125 tillable acres with an 88.7 CSR2, and the sale equals $92 per CSR2 point on the tillable acres.
Benton County: North of Belle Plaine, 79 acres sold at public auction for $13,200 per acre. With 75 tillable acres and a 97.9 CSR2, the sale equals $142 per CSR2.
Pottawattamie County: North of Oakland, 97 acres sold at public auction for $12,400 per acre. It has 92 tillable acres with an 81 CSR2, which equals $161 per CSR2 point on the tillable acres.
Warren County: Northeast of Indianola, 40 acres sold at public auction for $7,500 per acre. The farm has 32 tillable acres with a 71.6 CSR2. The sale equals $131 per CSR2 point on the tillable acres.
Louisa County: Northeast of Ainsworth, 46 acres sold for $5,097 per acre. The farm has 31 tillable acres with a 52.8 CSR2; balance of the acres includes a residential building site, pasture and timber. The sale equals $143 per CSR2 point on the tillable acres.
Hertz Real Estate Services compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500 or visit hertz.ag.