August 2022 Wallace’s Farmer “MarketPlace Extra”

Every year about this time, I ask the same question – how can it be that it’s almost August?!? As we get older, I guess time just continues to accelerate. The current growing crop certainly reminds us how fast things can change and develop. We enjoyed some beneficial rains in early July and entered into pollination time across Iowa in pretty good shape. Now, we just need a couple timely rains to finish off what should be an average to average-plus crop!

The mid-summer land market has continued to feature high-than-normal sale volume, and still strong prices. Late-June and early-July softening in the grain markets has taken just a bit of the excitement out of the land market, as have interest rates that continue to move higher.  Both factors – grain markets and interest rates – historically play large in the land sale arena, and each is worth watching as fall approaches. While I do not believe we’ve seen any “softening” in the market, I do believe we’re beginning to see a leveling off, of sorts, from the explosive value increases we have experienced over the past 18-24 months. As conditions in the country continue to evolve this fall, the land market will absorb the information and continue its constant pattern of adjustment. Every neighborhood is just a little different, so factors from area to area may vary. But as you can see, the sales below still reflect a very strong Statewide market for farmland.

NORTHWEST

Plymouth County:

96 +/- acres, located southwest of Remsen, recently sold at public auction for $25,000 per acre. The farm consisted of 94 +/- tillable acres with a CSR2 of 92.7, and equaled $275/CSR2 point on the tillable acres.

NORTH CENTRAL

Hancock County:

78 +/- acres, located near Britt, recently sold for $17,700 per acre. The farm consisted of 77 +/- tillable acres with a CSR2 of 88.5, and equaled $203/CSR2 point on the tillable acres.

NORTHEAST

Black Hawk County:

73 +/- acres, located north of Waterloo, recently sold at public auction for $15,100 per acre. The farm consisted of 73 +/- tillable acres with a CSR2 of 83.3, and equaled $181/CSR2 point on the tillable acres.

WEST CENTRAL

Monona County:

126 +/- acres, located near Onawa, recently sold at public auction for $16,600 per acre. The farm consisted of 110 +/- tillable acres with a CSR2 of 86.7, and equaled $219/CSR2 point on the tillable acres.

CENTRAL

Boone County:

40 +/- acres, located north of Madrid, recently sold at public auction for $17,100 per acre. The farm consisted of 39 +/- tillable acres with a CSR2 of 87.7, and equaled $200/CSR2 point on the tillable acres.

EAST CENTRAL

Clinton County:

119 +/- acres, located south of Lost Nation, recently sold at public auction for $16,800 per acre. The farm consisted of 115 +/- tillable acres with a CSR2 of 79.9, and equaled $217/CSR2 point on the tillable acres.

SOUTHWEST

Page County:

156 +/- acres, located south of Stanton, recently sold at online auction for $6,600 per acre. The farm consisted of 154 +/- tillable acres with a CSR2 of 61.2, and equaled $109/CSR2 point on the tillable acres.

SOUTH CENTRAL

Clarke County:                                                                                                            

143 +/- acres, located north of Woodburn, recently sold at public auction for $6,650 per acre. The farm consisted of 122 +/- tillable acres with a CSR2 of 55.9, and equaled $139/CSR2 point on the tillable acres.

SOUTHEAST

Henry County:

74 +/- acres, located northeast of Mt. Pleasant, recently sold at online auction for $16,000 per acre. The farm consisted of 73 +/- tillable acres with a CSR2 of 81.5, and equaled $199/CSR2 point on the tillable acres.

Hertz Real Estate Services compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500/800-593-5263 or visit www.Hertz.ag.