Many states are experiencing record land prices across the Midwest. Aggressive bidding continued into summer and the fall selling season, with new high prices often being reached in Iowa. But the land market is also strong in most other crop regions.
Farmers National Company recently sold a client’s land in northeast Nebraska at a simulcast auction for $12,950-$13,400 per acre, which would be very strong sales, if not records, for the county. Another recent sale in Nebraska brought $14,000 per acre for non-irrigated cropland.
Other states are seeing strong land prices continue into the fall. As farmers and investors bid for the land, Kansas, South Dakota, Illinois, and Indiana are experiencing strong prices for good cropland.
Lower quality land is also seeing strength, with sales prices far surpassing expectations in many areas. Land sale activity in the grain belt slows during the heart of harvest. However, auctions and sales will pick up steam again in late October and November.