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Your Precious Land

RSS By: Mike Walsten, Pro Farmer

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

Now It's $14,350 Per Acre for Northwest Iowa Farmland!

Aug 15, 2011

Mike Walsten

The northwest Iowa farmland market moved to a new price level today when a local farm family paid $14,350 an acre for 153.2 acres in O'Brien County in northwest Iowa. The farm is located a little south of Sheldon and has 150.3 tillable acres and a CSR (Corn Suitability Rating) of 73.2 versus a county average CSR of 71.8. It has farm program direct yields of 122 bu. per acre for corn and 42 bu. per acre for soybeans.

Rich Vander Werff, whose Sanborn-based auction firm handled the sale, says, "Bidding began at $10,000 per acre. It look less than five minutes to get to $14,000. We had five bidders up to $13,000 per acre with several more waiting in the wings around that number. I believe this is a record price for northwest Iowa."

"Interestingly enough the family was telling me this farm was bought by their father in 1956 for $538 per acre," he tells me, "which was a record price at that time. And they tell me the sales price at that time made the headlines in the Sioux City Journal." This might possibly make the Journal again.

If interested in seeing a copy of LandOwner, just drop me an email at landowner@profarmer.com or call 800-772-0023.

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