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IOWA FARMLAND APPRAISER REPORTS NUMBER OF "NO SALES" INCREASING, PRICES ARE STEADY
Jun. 12, 2023
by Jim Rothermich, MAI, ARA, ALC - VP/Farmland Appraisal Services, e-mail: theLandTalker@iowaappraisal.com
Greetings! Planting season is in the books. I have seen some good stands of corn and soybeans. Hopefully, there will be enough rain during the growing season to have a bumper crop.
A good volume of land is still coming to the market. May is typically the slowest month for land auctions, due to planting season.
The corn futures market has softened more than expected and corn ending stocks are projected to be the highest in several years. The market is surely transitioning to current economics.
The number of farms not meeting the reserve and are a "no sale" at auction is increasing. Lower quality farms are being affected the most. If you are thinking about selling in the next 12 months, educate yourself about market conditions and talk to a trusted realtor. You may decide sooner is better than later.
Below are cash prices of corn and soybeans, which are highly correlated to land prices, current and one year ago.
To read the entire report click here.
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