Iowa Land Auction Prices, February 26-March 4, 2022

Grundy and Story County topped the market this week at $19,000/acre. Honorable mention goes to Dubuque County with a sale at $18,350/acre. The Ukraine-Russia War caused grain markets to skyrocket this week. For context on why grain markets are so volatile right now... Ukraine is “Europe’s Breadbasket.” And Ukraine is:

• 2^nd largest country in Europe by area, with a population of 40 million (more than Poland)
• 1^st in Europe in terms of arable land
• 3^rd in the world for area of black soil
• 1^st in the world in exports of sunflower and sunflower oil
• 2^nd in the world for Barley production & 4^th in Barley exports
• 3^rd largest producer & 4^th largest exporter in the world of corn
• 4^th largest producer in the world of potatoes
• 5^th largest Rye producer in the world
• 8^th in the world for wheat exports
• 9^th in the world for chicken egg production
• 16^th in the world for cheese exports

Ukraine ocean ports used to ship commodities have all but ceased operation. Will Ukraine be able to get a crop planted this year? Uncertainty coming out of eastern Europe is driving commodities higher. If the grain markets continue upward, expect another lurch up in land prices.

“That’s my story and I’m sticking to it!”

Jim “the Land Talker”

Jim Rothermich, MAI, ARA, ALC
Iowa Appraisal
theLandTalker@iowaappraisal.com ∣  @theLandTalker

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