The sale prices for good cropland in rural America continue upward, reaching new high points in many states.
Recently, good cropland in Indiana has sold for $17,000 an acre. In Iowa, it has sold above $25,000 per acre, $15,000 per acre in South Dakota, and $12,000 an acre in North Dakota. Illinois had land sales above $21,000 an acre and Ohio has seen $16,000 per acre. Land sales in Nebraska were above $13,500 per acre, $14,500 in Missouri, and more than $8,000 in Kansas.
Farmers National Company says the “record” sale prices continue to capture headlines, but there has generally been continued strength in the land market, with good cropland attracting the most attention from buyers.
“The upcoming months will set the trend in land prices,” says Randy Dickhut, senior vice president of real estate operations at Farmers National, who will be watching before and after this year’s harvest to gauge the future land market.