Coming into Harvest.
Iowa has set a record for Farmland…$26,000/ acre farmland in Sioux County, (91 CSR, 80 Acres) We continue to see increased interest in farmland. Commodity prices are going to stay strong due to a lower volume of crops than predicted. The dry weather seems to have us pushing into harvest sooner than later. Many farmland lenders and economists are saying that in 2022 the on-farm income will be at an all-time high.
The farm progress show displayed over $1 billion (estimated) dollars in equipment. Every year I am amazed at how much Iowa relies on agriculture and the revenue/ jobs it creates. Get ready because farming will get bigger and faster in an accelerated way. “The future is coming faster than we think!”
Studying the data…It does not appear that interest rates are affecting farmland prices. This tells me there is still a lot of equity and cash out there.
If you are a buyer, study the market and get ready as there will be a ton of auctions in the next 3 months!
Results from the 128 Auctions (13,288 acres) this last month have the average for the state at $13,288/acre, high-quality ground at $14,936/ acre, and medium-quality ground averaging $10,866/ acre. The low-quality ground has remained steady at an average of $6,876/ acre.
Our Mission; Is to be your “Trusted Advisors”,
Our obligation; is to market your farmland to the largest audience yielding you the most successful outcome!
David & Ann Whitaker | Iowa Land Guy When you think of Farmland Think of US!