Greetings!  Very few land auctions are occurring in Iowa at this time.   There were a total of 897 acres offered at auction, of those acres, there were 807 tillable acres.  I would describe last week’s auctions results as “good”.  

A few of the highlights from last week:

• 157 acre tract sold in Plymouth County for $10,000/acre with a CSR/CSR2 of 58/81

• 240 acres in Franklin County sold in two tracts:

              - Tract 1: 160 acres sold for $7,250 with CSR/CSR2 of 72/74

              - Tract 2 80acres sold for $6,800/acre with a CSR/CSR2 of 73/79

• 80 acre tract sold in Pocahontas County for $8,050/acre with a CSR/CSR2 of 72/80

There was one true “no sale” in Wayne County with the farm still being for sale. The number of land auctions are down considerably all across Iowa for the next 30 days.  There is very limited amount of tillable land for sale and this is keeping the land market up despite low grain prices. It is still my opinion if anyone is thinking of selling farmland, the sooner you bring it to the market the better. 

Keep an eye on the grain market.  Soybeans are up sharply & corn is following.  This is good for the land market.  Especially with very little land coming to the market to be sold.  Definitely a seller’s market. 

Please check back next week to see what I will be discussing.  Please check out our May auction results which we recently posted.  Finally, please make sure to “Like” us on Facebook and follow us on Twitter to stay up-to-date on the latest sale results and industry news.

Talk to you soon!  Thanks, Jim “the Land Talker