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Corn Belt Farmland Price Sets New Record

Dan Corn, Economy, Field Crops

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A recent farmland sale in Iowa set a new record for the Corn Belt. In Plymouth County, Iowa, farmland was sold for $26,250 per acre.

Ag Web Dot Com says Brock Auction Company brokered the sale, which included 55 acres of high-quality farmland. That put the total bill at $1.44 million.

The bidding began at $17,000 per acre, and three bidders each topped $25,000 per acre, with a local farmer getting the winning bid.

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This sale now holds a record high for farmland prices. It’s bigger than the last number one sale price from August, when a farm in Sioux County, Iowa, sold for $26,000 per acre. A Plymouth County, Iowa farm recently sold for $25,000 per acre.

Numbers in Iowa appear to be up across the board. The Iowa Chapter of the Realtors Land Institute says the value of high-quality cropland is $14,472 per acre, up almost 17 percent from September 2021.

(From the National Association of Farm Broadcasters)