The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
A recent auction in Grundy County, Iowa, shows positive demand continues for quality cropland, but that strength has been tempered by the decline in corn and soybean prices.
The auction occurred Thursday, June 4. It featured 77 acres in one of the richest corn-growing areas of the nation. Competition is usually intense for property in the area. The farm was a rectangular piece with a farmstead removed from the original 80-acre piece.
The Corn Suitability Rating (CSR with 100 maximum) was a strong 89. The county average is 84.7, the only county in the state with a CSR above 80. The revised CSR2 was 93.6.
The auction brought $10,800 an acre.
Handling the auction was Jeffrey Obrecht, Peoples Company, Iowa Falls, 641-648-5065.
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