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November 2008 Archive for Your Precious Land

RSS By: Mike Walsten, Pro Farmer

Mike Walsten has covered major business trends in agriculture for more than 40 years.

Clues From Recent Land Sales

Nov 26, 2008

Mike Walsten
 
Some good, some 'no sales' describes current action in the auction market. As always, there is interest in quality land. But farmers are more cautious. Some auctions are cancelled because bids fail to reach seller expectations based on summer highs. Here are some recent sales from across the Midwest:

Ohio: Allen County. 104 acres north of Lima; FSA direct corn yield 113 bu., soybean yield 36 bu.; Tract 1: 37 acres, mostly all tillable, $3,919 per acre. Tracts 2-5: 68 acres mostly all tillable, 10 acres woods, $2,897 per acre. John R. Nixon, Schrader Real Estate & Auction Co., Inc., 419-236-2516, Wapakoneta, Ohio.
 
Indiana: Allen County. 78 acres southwest edge of Monroeville; Tracts 1, 4 & 5: 40 acres; 32 acres mostly tillable; 8 acres wooded; $4,500 per acre. Tracts 2 & 3: 38 acres; 34 acres mostly tillable; 4 acres wooded; $4,650. Jerry Ehle, Schrader Real Estate & Auction Co., Inc., 260-749-0445, New Haven, Indiana.
 
Illinois: Henry County. 365.5 acres north of Woodhull; 331.4 acres tilable; 215.4 corn base acres with 125 bu. direct yield; 109 soybean acres with 43 bu. direct yield; Tracts 1-3: 250.5 acres; 248.1 acres tillable; $6,295 per acre. Tract 4: 55 acres; 51.7 acres tillable; about $4,324 per acre. Tract 5: 60 acres; 31.6 acres tillable; about $3,167. Jim McRell, Farmers National Company, 309-289-2540, Dahinda, Illinois.
 
Iowa, Marshall County. 213.5 acres southwest of Liscomb; 204.8 acres tillable; CSR 72 (75.9 county average); 50:50 corn/soybean bases with 128 bu. direct yield for corn and 41 bu. direct yield for soybeans; $5,000 per acre. Jerry Lage, Hertz Real Estate Services, 515-382-1500, Nevada, Iowa.

Iowa, Pocahontas County. 271 acres southwest of Pocahontas; 263 acres tillable; CSR 78.4 (74 county average); 133 corn base acres with 121 bu. direct yield; 126.5 soybean direct acres and 26 bu. direct yield; $5,525 per acre. Jon Hjelm, The Acre Company, 712-262-3529, Spencer, Iowa.

Iowa, Adair County. 80 acres south of Stuart; 70.3 acres tillable; CSR 72.6 (56.9 county average); 35.5 corn base acres with 104 bu. direct yield; 34.8 acres with 36 bu. direct yield; $3,800 per acre. Marv Huntrods, Hertz Real Estate Services, 515-382-1500, Nevada, Iowa.

Minnesota, Blue Earth County. 162.2 acres northeast of Amboy; 161.2 acres tillable; 93.8 corn base acres with 115 bu. direct yield; 67.4 soybean base acres with 37 bu. direct yield; $4,970 per tillable acre. Wingert Realy & Land Services, Inc., 800-730-5263, Mankato, Minnesota.

Nebraska, Dawson County. 313.3 acres north of Overton; 305.2 acres tillable; 216 corn base acres with direct yield of 116 bu.; 38.3 soybean base acres with 30 bu. yield; 23.2 wheat base acres with 38 bu. yield; $2,205 per acre. Robert Polk, Farmers National Company, 308-237-2601, Kearney, Nebraska.

Kansas, Seward County. 240 acres near Liberal; Tract 1: 80 acres; 40 acres dryland wheat; $780 per acre. Tract 2: 160 acres; irrigated 157 acres tillable; 133 corn base acres with 80 bu. direct yield; $2,225 per acre. Cole Owens, Farmers National Company, 620-276-4424, Garden City, Kansas.
 
If you'd like to see a samply copy of my newsletter LandOwner, just drop me an email at landowner@profarmer.com or call me at 800-772-0023.

Clues From Land Auctions

Nov 05, 2008

Mike Walsten

Our quick checks of recent land auctions indicates farmers and ranchers are still buying and paying up for quality land. But prices aren't where they were last summer when the market was red hot. We've seen some auctions for top-quality land bring prices not far off the summer high. And, we've seen others that seemed to be about 10% off the summer high, but still above year-ago levels. We've also seen auctions for lower-quality ground not go well -- "no-saled" for lack of bids or "no-saled" for failure to reach the reserve level. Here are a few sales:

Iowa, O'Brien County, Oct. 30: 160 acres, 159 acres tillable; $8,100. Vander Werff and Assoc., Inc., Sanborn, 712-729-3264.

Illinois, Logan County, Oct. 30: 105 acres near Lincoln; wraps around large hog operation; $6,075. Mike Maske Auction Service, Mt. Pulaski, 217-519-3959..

Illinois, Kankakee County, Oct. 30: 227 acres west of Kankakee; 167 acres tillable; 60 acres wooded; 2 acres farmstead; $5,917. Richard Resler, Schrader Real Estate & Auction Co., Inc., Bourbanais, 815-933-5864.

Illinois, Champaign County, Oct. 27: 69 acres near Broadlands, Embarras River cuts through property; $6,000. Gordon Hannagan Auction Co., Gifford, 217-568-7117.

Iowa, Hardin County, Oct. 24: 109 acres south of Eldora; 105 acres tillable; $4,625 an acre. 87 acres northeast of Eldora; 75 acres tillable; CSR 83.8 (72 county average); $5,050. Jeffrey Obrecht, Farmers National Company, Iowa Falls, 641-648-5065.

Nebraska, Holt County, Oct. 24: 600 acres north of Stuart; hayland, pasture, trees, creek, ranch-style home; $460,000 total or about $767 an acre. Robert Litz, Farmers National Company, O'Neill, 402-336-3500..

Minnesota, Cottonwood County, September auction: 160 acres southwest of Confrey; 103 acres tillable, 52 acres pasture; $2,998 per acre. NORTH CENTRAL Realty, Olivia, 800-545-6227.

Please email me with what's happening in your area.

If you'd like to see a sample copy of the LandOwner Newsletter, just send me an email or call 800-772-0023. I'd be happy to email a copy to you. Better yet, subscribe and save $20 off the annual subscription price of $119. Just call 800-772-0023 and mention you saw the offer in this column.


 

 

 

Land Auctions Still Happening

Nov 05, 2008

Mike Walsten

Our quick checks of recent land auctions indicate farmers and ranchers are still buying and willing to pay up for quality land. That's not to say tbuyers are not cautious buyers and that all auctions have gone well. Here are a few sales:

Iowa, O'Brien County, Oct. 14: Tract 1: 115.7 acres; 112.5 acres tillable; CSR 71.3 (county average 71.8); non-crossable waterway in middle of farm; numerous point rows; $7,100 per acre. Tract 2: 117.3 acres; 110 acres tillable; CSR 71.8; non-crossable waterway in middle; $6,900 per acre. Vander Werff and Assoc., Inc., 712-729-3264.

Indiana, Bartholomew County, Oct. 8: 75 acres south of Columbus; 49 acres tillable; 21 wooded acres; 4-acre buiilding site; $433,000 total or about $5,773 an acre. Halderman Real Estate Services, 812-378-0588.

Colorado, Logan County, Oct. 7: 2,157 acres of mostly pasture; Tract 1: 1,050 acres of mostly pasture with 146 acres of dryland crop ground; $505,000 total or $469 per acre. Minimum bid: $330,000. Tract 2: 870 acres pasture; $375,000 total or about $431 per acre. Minimum bid: $295,000. Tract 3: 237 acres, 168 acres pasture, 68 acres dryland, older farmhouse with machine shed, out-buildings used for cattle, $250,000 or $1,055 per acre. Minimum bid: $185,000. Reck Agri Realty & Auction, 800-748-2589.

Iowa, Linn County, Oct. 3: 135 acres east of Walford; 126 acres tillable; CSR 80.3 on the tillable acres; county average is 65.8; $6.400 an acre. Hertz Real Estate Services, 319-895-8858.

Iowa, Jasper County, Sept. 30: 100 acres east of Russell; 88 acres tillable; CSR 42 (county average 39.7); $2,650 per acre. Farmers National Company, 515-250-1119.

Please email me with what's happening in your area.

If you'd like to see a sample copy of the LandOwner Newsletter, just send me an email or call 800-772-0023. I'd be happy to email a copy to you. Better yet, subscribe and save $20 off the annual subscription price of $119. Just call 800-772-0023 and mention you saw the offer in this column.


 

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