October 2021 Wallace’s Farmer “MarketPlace Extra”

Doug Hensley, Hertz Real Estate Services

Ready or not, harvest is here! Seed corn started in late August, and commercial corn and soybean harvest started fully the week after Labor Day. Yield expectations are encouraging, albeit mixed, depending on location. Expectation for on-farm profit, however, is as high for 2021 production as any year I can recall. Strong grain prices throughout the growing season have provided an extended opportunity for profitable grain sales. As a result of the profit potential, farmland sales across Iowa have shifted higher, and there is great competition for productive land. In addition, still-low interest rates continue to support the land market. As we look forward towards 2022, input prices for seed and fertilizer have also shifted higher, thereby taking some margin back. However, at current grain price levels for 2022 production, and assuming an average crop next year, there is still profit potential to be had. So, when land opportunities present themselves, many folks are raising their hand to compete. The following results are a testament to that – all across the State of Iowa.

NORTHWEST

Dickinson County:

314 +/- acres, located north of Terril, recently sold at public auction for $15,200 per acre. The farm consisted of 302 +/- tillable acres with a CSR2 of 86.2, and equaled $183/CSR2 point on the tillable acres.

NORTH CENTRAL

Worth County:

120 +/- acres, located near Grafton, recently sold at public auction for $13,100 per acre. The farm consisted of 111 +/- tillable acres with a CSR2 of 82.6, and equaled $171/CSR2 point on the tillable acres.

NORTHEAST

Bremer County:

77 +/- acres, located southwest of Tripoli, recently sold at public auction for $15,900 per acre. The farm consisted of 75 +/- tillable acres with a CSR2 of 87.2, and equaled $187/CSR2 point on the tillable acres. Note: This farm also included an old, uninhabitable home.

WEST CENTRAL

Carroll County:

80 +/- acres, located southeast of Arcadia, recently sold at public auction for $18,300 per acre. The farm consisted of 79 +/- tillable acres with a CSR2 of 79.7, and equaled $232/CSR2 point on the tillable acres.

CENTRAL

Dallas County:

200 +/- acres, located east of Panora, recently sold at public auction for $13,000 per acre. The farm consisted of 182 +/- tillable acres with a CSR2 of 86.5, and equaled $165/CSR2 point on the tillable acres.

EAST CENTRAL

Linn County:

472 +/- acres, located northeast of Alburnett, recently sold for $13,650 per acre. The farm consisted of 458 +/- tillable acres with a CSR2 of 82.7, and equaled $170/CSR2 point on the tillable acres.

SOUTHWEST

Adair County:

80 +/- acres, located south of Adair, recently sold at public auction for $9,500 per acre. The farm consisted of 36 +/- tillable acres with a CSR2 of 69.9, along with 39 +/- acres in pasture, an older cattle shed and an 80’s vintage farrowing house with a concrete floor but no pit.

SOUTH CENTRAL

Marion County:                                                                            

153 +/- acres, located northwest of Pella, recently sold for $16,000 per acre. The farm consisted of 148 +/- tillable acres with a CSR2 of 81.0, and equaled $204/CSR2 point on the tillable acres. 

SOUTHEAST

Jefferson County:

78 +/- acres, located west of Pleasant Plain, recently sold at online auction for $13,050 per acre. The farm consisted of 77 +/- tillable acres with a CSR2 of 78.5, and equaled $168/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.