Iowa Farmland Auctioneer Market Update | March 2019
Iowa Farmland Auctioneer Market Update | January 2019
Land Prices for the month of March 2019 were stable with an adjustment down. We have seen this trend happening more in 2019. We had many sales close, new ones go pending, and many new farms hit the market. Results from the 76 auctions (7052 acres) this last month have the average for high quality ground at $8,295/ acre and medium quality ground averaging $5,141/ acre. Low quality ground is also trending steady at an average of $2,765/ acre. The predominant sellers being retiring operators, estates, geographic consolidation, and pressured financial sales. Buyers of land were Investors and 1031 exchange buyers, farmer operators, hunting property buyers, and rural home builders. If you notice, this month the number of listings increased and the number of auctions decreased. The number of auctions historically lessens around planting season.
Hot Topics: The weather has turned warmer quickly causing some flooding. Interest rates have stopped climbing or have fallen in some categories; commodity markets are mixed. There are continued concerns with uncertainty in the market regarding foreign trade agreements. USDA predicts less acres planted and harvested. USDA predicts soybeans at $8.80 and corn at $3.65 for 2019 crop season
New Farm Bill Updates: Ability to update PLC yields. Trend Adjustment in determining ARC benchmark revenues. Multiple opportunities to make new ARC/PLC elections. Higher loan rates for many crops. Changes in payment limitation rules. Conservation program restructuring.
28 Land Auctions
825 Total Farms on the Market
No word rivals the power to instantly produce serious competition between individual buyers with money in hand
If you would like a No Cost farm valuation on your farm, let us know as we would provide one to you in attempt to earn your business. Let us show you the data and potential marketability of your farmland. https://iowalandguy.com/what-is-my-farm-worth/
David Whitaker • Broker/Auctioneer
Whitaker Marketing Group • www.IowaLandGuy.com
Data source: www.farmlandfinder.com