I feel a little like a broken record, but the farmland market across Iowa remains stable, ballasted by offsetting factors. Commodity prices have been a roller coaster this summer, albeit with profitable selling windows, while generally grinding lower, and interest rates are roughly double what they were 12 to 18 months ago.

However, these pressures are being offset by the expectation that we have a crop developing with big-bushel potential, which is supporting market confidence and foreshadowing reasonable profit in 2023, even if less than the record profit levels in 2022.

In addition, early bids from suppliers for anhydrous and fertilizer inputs for the 2024 growing season are substantially reduced from levels paid for 2023 crop inputs, which is also supportive to confidence and forward-looking profit potential. So, the offsetting factors leave the land market to generally chop sideways.

Clay County. About 160 acres northwest of Webb recently sold at public auction for $13,700 per acre. The farm consisted of about 150 tillable acres with a CSR2 (corn suitability rating) of 86.2 and equaled $170 per CSR2 point on the tillable acres. Note: the tillable land was divided by a drainage ditch.

Cerro Gordo County. About 121 acres near Dougherty recently sold at public auction for $15,900 per acre. The farm consisted of about 116 tillable acres with a CSR2 of 83.8 and equaled $198 per CSR2 point on the tillable acres.

Black Hawk County. About 7 acres west of Cedar Falls recently sold at public auction for $19,400 per acre. The farm consisted of about 77 tillable acres with a CSR2 of 92.4 and equaled $210 per CSR2 point on the tillable acres.

Crawford County. About 67 acres south of Denison recently sold at public auction for $13,600 per acre. The farm consisted of about 67 tillable acres with a CSR2 of 73.9 and equaled $184 per CSR2 point on the tillable acres.

Story County. About 80 acres north of Colo recently sold at public auction for $17,100 per acre. The farm consisted of about 75 tillable acres with a CSR2 of 88.5 and equaled $206 per CSR2 point on the tillable acres.

Linn County. About 40 acres east of Marion recently sold for $17,500 per acre. The farm consisted of about 38 tillable acres with a CSR2 of 87.0 and equaled $212 per CSR2 point on the tillable acres.

Adams County. About 233 acres north of Nodaway recently sold for $5,750 per acre. The farm consisted of about 196 tillable acres with a CSR2 of 57.0 and equaled $120 per CSR2 point on the tillable acres. Note: The balance of the farm was in timber draws, waterways, terraces and ponds.

Marion County. About 90 acres east of Hamilton recently sold for $6,555 per acre. The farm consisted of about 84 tillable acres with a CSR2 of 59.9 and equaled $117 per CSR2 point on the tillable acres. 

Jefferson County. About 79 acres east of Fairfield recently sold at public auction for $9,000 per acre. The farm consisted of about 66 tillable acres with a CSR2 of 75.6 and equaled $142 per CSR2 point on the tillable acres. Note: The balance of the farm was in waterways, trees, and a pond.

Hertz Real Estate Services 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.