Farmland values across the Corn Belt and beyond showed remarkable strength in March, reflecting higher commodity prices, improved farm income and favorable credit conditions, according to R.D. Schrader, president of Schrader Real Estate and Auction Company.
“It’s always important to remember that prices on a particular farm depend greatly on the land quality and location. But we’ve been seeing near record prices for farmland in some of our auctions. I would say this is the most favorable broad-based market we’ve seen in five or six years,” said Schrader.
“Farmers are coming off a good year, and many are in a position now to expand their holdings, especially with the prospect of improved prices for their crops,” said Schrader.
An auction of 1,120 acres in Weld County, Colorado, brought $13,684 per acre on the best land. The auction of land in Cass County, Missouri, brought as much as $7,437 per acre.
Demand for recreational land is also improved, he noted. An auction of 3,094 acres of recreational and timberland in south Georgia brought $5.37 million, or $1,736 per acre.
Schrader has also sold agricultural land in Indiana, Wisconsin, Oklahoma, Nebraska, Illinois and Michigan so far in 2021.
The 2021 results continue to build on the gains of 2020. The Federal Reserve Bank of Chicago reported that the price of “good” farmland rose 6 percent in 2020. That includes land in Indiana, Illinois, Iowa, Michigan and Wisconsin.
Those seeking to buy or sell land may visit www.schraderauction.com or call 800-451-2709.
Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of agricultural land and equipment throughout the United States. The company is a five-time USA Today/National Auctioneers Association Auction of the Year winner.
For more information:
Carl Carter, 205-910-1952