Southeast Nebraska saw a recent auction that grabbed market observer's attention. It occurred July 16 featuring 78 dryland acres southwest of Plattsmouth, Neb., in Cass County. This farm sold to a local farmer for $11,000 an acre.
The farm in question featured 75 tillable acres and had a soil rating for plant growth (SRPG) of 73.9 (100 = maximum).
While corn prices are down considerably, crop prospects are strong. USDA's crop condition rating pegged 76% of the state's corn crop in "good" to "excellent" condition with 62% of the crop silking. A positive-looking crop can do a lot to help the mood of a farmer buyer, even when prices are disappointing. But the low turnover of farms sold in that region also contributed to the strength.
Handling the auction was Eric Mueller and Bernie Winter, AFM, of Farmers National Company of Omaha and Papillion, respectively.
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