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More Farmland Sales In Excess of $11,000/a in Central Corn Belt

Published on: 14:26PM Jul 15, 2011

Mike Walsten

The run of $11,000+ per acre land sales in the Central Corn Belt continued Thursday with the sale of 237 acres of Grundy County, Iowa, farmland at an auction conducted by Farmers National Company. The farmland offered was prime cropland, nearly all tillable and sporting CSRs (corn suitability rating) ranging from 87.3 to 89.6 in a county that carries an average of 84.7. ( Iowa's CSR index rating ranges to a maxium of 100.) No other Iowa county carries an average CSR in excess of 80. So the soils in Grundy County's are truly the best-of-the-best in the state. This offering was above average for the county. Conrad is a well-known seed corn area and there was a history of seed corn production on some of the acres offered. The ground was offered in three tracts but purchased as a single unit.

This sale came on the heels of recent auctions in Illinois which topped $11,000 and $13,000 an acre. June 16 saw 52.5 well-tiled acres located east of Ursa in Adams Co., Ill. (far western Illinois), bring $13,200 acre. Buyers were farmers who operate ground on two sides of the offered property. That auction was handled by Sullivan Auctioneers, LLC, Hamilton, Illinois.

June 24 saw 364 acres located southeast of Havana in Mason County, Ill., sell for $4.01 million or $11,016 an acre in an auction handled by Murray Wise Associates, LLC. That repeated the pattern seen at recent auctions in Champaign County, Ill, which saw ground selling from $11,000 an acre to in excess of $13,000. However the Champaign County auction involved soils considered some of the "best of the best" in the world (high-end Class A soils) while the soils involved in the Mason County auction were actually Class B soils – Champaign County-type soils are not available there.

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