Iowa Appraisal

Iowa Land Auction Prices, August 4-10, 2017

Posted on August 14, 2017 at 2:30 PM by Jim Rothermich

Greetings!  The amount of land auctioned this week was steady, compared to last week.  1,029 acres of land were offered, of which 903 acres were tillable.  The market still appears to be strong.  Take a look at how many sales were $10,000/acre and higher.  Here are the highlights:

  • 326 acres sold in Plymouth County- offered in two tracts- purchased as a unit- $12,100/acre- 312 tillable acres- CSR2- 84
  • 73 acres sold in O’Brien County- $13,700/acre- all tillable- CSR2- 84
  • 136 acres sold in Polk County- offered in two tracts:
    • 52 acres- $11,000/acre- all tillable- CSR2- 83
    • 84 acres- $10,000/acre- 80 tillable acres- CSR2- 92
  • 148 acres sold in Buena Vista County- offered in two tracts- purchased as a unit- $12,200/acre- all tillable- CSR2- 94 (does not include 2% buyer’s premium)
  • 80 acres sold in Woodbury County- $4,850/acre- 71 tillable acres- CSR2- 50
  • 78 acres sold in Story County- $11,500/acre- 76 tillable acres- CSR2- 85
  • 188 acres sold in Taylor County- offered in two tracts:
    • 77 acres- $4,700/acre- 37 tillable acres- balance pasture- CSR2- 63
    • 111 acres- $3,650/acre- 54 tillable acres- balance pasture- CSR2- 65

The August 10, 2017 USDA Crop Production report and World Agriculture Supply and Demand Estimates (WASDE) report gave corn/soybean prices a jolt - unfortunately the jolt pushed corn/soybean prices downward.If the USDA projections are accurate, this will be the third highest U.S. corn yield on record, with soybean yields projected to set new record highs. As the drought in the Midwest continues, I think everyone was expecting much lower yield projections by the USDA and were surprised by the report.It will be interesting to see how the land market reacts this coming week.

“That’s my story and I’m sticking to it!”  Please check back next week to see what the Iowa land market is doing.

Jim “the Land Talker”

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