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2022 Regional Landowner News
You are here:   Landowners  »  Current Landowner News  »  2022 Regional Landowner News

June 2022 

  

Corn Belt: Iowa, North Dakota, South Dakota, and Minnesota 

Farmland prices continued to rise in 2022 after significant increases in 2021.  

  

"During the past few months, we have seen prices paid for quality cropland go above $20,000 per acre in Iowa, $15,000 per acre in South Dakota and one farm in North Dakota brought $12,000 per acre. A lot of land sells for less than these prices, but the high ones are catching everyone's attention," said Brian Mohr, area sales manager for Farmers National Company.  

  

Increased amounts of land came on the market at the end of 2021 due to concerns about possible tax law changes along with the lure of higher sales prices. Demand from farmers and investors more than offset the additional farms on the market to drive land prices up significantly. Sales slowed down in early 2022, but demand remained strong.  

  

Iowa led the market activity in late 2021 with more sales and higher prices.   

  

"The amount of land sold by Farmers National Company in Iowa last year was up 152 percent over the previous year, with auction sales up 129 percent year over year. Our company auctioned five times more land in the last part of 2021 than in the last quarter of 2020," noted Tom Schutter, assistant sales manager for Farmers National Company.  

  

"The best way to sell cropland right now is to employ a competitive bidding process in order to see what the market is willing to pay at any given time. Farmers National Company has had great success using simulcast and online bidding to get the best price for our clients," Schutter continued.  

  

"This summer, we expect strong prices to continue. This is contingent on world events, grain production and how rising interest rates and higher input costs will impact buyer demand for farmland," Mohr added.    

  

Iowa Land Values Graph  | Minnesota Land Values Graph | North Dakota Land Values Graph | South Dakota Land Values Graph 

  

Brian Mohr 

Area Sales Manager 

(605) 800-4270
BMohr@FarmersNational.com  

  

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Eastern Corn Belt: Illinois, Indiana, Ohio, Michigan, Kentucky 

Farmland prices continued to rise in 2022 after significant increases in 2021.    

  

"During the past few months, we have seen prices paid for quality cropland go above $21,000 per acre in Illinois, $17,000 per acre in Indiana and $16,000 in Ohio. A lot of land sells for less than these prices, but the high ones are catching everyone's attention," said Linda Brier, area sales manager for Farmers National Company. 

  

Increased amounts of land came on the market at the end of 2021 due to concerns about possible tax law changes along with the lure of higher sales prices. Demand from farmers and investors more than offset the additional farms on the market to drive land prices up significantly. Sales slowed in early 2022, but demand remained strong. 

  

Auctions led the market activity in late 2021 and early 2022 with more sales and higher prices.  

  

"The amount of land sold by Farmers National Company by auction during the fall and spring sales season was up 106 percent over last year. Our company auctioned five times more land in the last part of 2021 than in the last quarter of 2020," Brier noted. 

  

"The best way to sell good cropland right now is to employ some type of competitive bidding process in order to see what the market is willing to pay at any given time. Farmers National Company has had great success using simulcast and online bidding to get the best price for our clients," Brier added. "This summer, we expect strong prices to continue. This is contingent on world events, grain production and how rising interest rates and higher input costs will impact buyer demand for farmland." 

 

Illinois Land Values Graph | Indiana Land Values Graph | Ohio Land Values Graph | Michigan Land Values Graph | Kentucky Land Values Graph   

  

Linda Brier 

Area Sales Manager for Illinois, Indiana, Michigan, Ohio, and Kentucky 

(765) 299-4696 

LBrier@FarmersNational.com  

  

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Nebraska, Kansas, Missouri, Oklahoma, Texas, Arkansas  

Buyers are actively pushing land prices in the Northern Plains as sales prices in some areas are nearing highs of the past. 

 

"We are seeing land prices up 10 to 15 percent for good cropland in the area," observed Brian Mohr, area sales manager for Farmers National Company.  

 

Prices for ranchland and pasture are relatively stable and not experiencing the same increases as good cropland in the region. Investor buyers are showing more interest in ranches in the West River region. Drought concerns have tempered buying interest in the most susceptible areas. 

 

The current agricultural land market has more buyers than sellers. The inventory of farms for sale is presently at a low point for all land brokers as buyers have been aggressively purchasing what has been listed for sale. 

 

"The prospect for higher commodity prices drives the demand for good cropland in the region. It is making farmers even more bullish to buy farmland," Mohr said. Competitive bidding among potential buyers is delivering the best sales prices to sellers in most areas. 

 

"If you want top dollar in my area, some type of open bidding such as a public auction, online auction or written bids brings out all potential buyers," Mohr said. "Also, buyers are being more aggressive bidding on traditional private treaty listings." 

 

The expectation is for more farms and ranches to come up for sale as the year moves along due to the higher prices received and potential changes in tax policy. 

 

"We have already seen increased interest by some landowners as we field calls daily about them wanting to sell in the coming months" he said. "Our agents are busy booking auctions and sales for later in the summer and on to the end of the year." 

 

Nebraska Land Values Graph | Kansas Land Values Graph| Missouri Land Values Graph | Oklahoma Land Values Graph | Texas Land Values Graph | Arkansas Land Values Graph  

 

Paul Schadegg
Area Sales Manager
(308) 254-2826 

PSchadegg@FarmersNational.com  

  

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