News

Midwest farmland market solid

A farm real estate specialist says the farmland market is solid despite uncertainties in the ag economy.

Jim Rothermich, vice president of Iowa Appraisal, says he expects higher land prices to stick around. “There’s a lot of bad news out there right now, but the market is just kind of shaking it off and rolling right on. It’s very stable and the high-quality farms are selling just as strong as they ever have.”

Rothermich says a 160-acre farm in northwestern Iowa recently sold for more than $21,000 per acre.

He tells Brownfield farmers have been driving the market. “There is still a lot of working capital and cash out in the countryside. Farmers still have a lot of cash, are still wanting to buy land, and are willing to pay up for it.”

Rothermich says demand remains high for ag land in the Midwest.

AUDIO: Jim Rothermich with Iowa Appraisal