Land prices in the Dakotas and Minnesota are surprisingly good given the low commodity prices, according to Farmers National Co.
“Prices for good-quality cropland are as good as a couple of years ago,” said Brian Mohr, Farmers National Co. area sales manager for the region, in a news release. “The somewhat slower overall land market in our region is mainly due to fewer farms and ranches for sale, especially in western South Dakota.”
Prices for average- to lower-quality land are fairly stable to down slightly compared to a year ago, while buying interest for good-quality farms helps bring better prices than anticipated. The primary sellers of ag land right now are family trusts and property inheritors. Local farmers are the predominant buyers of most of the cropland that comes up for sale.
From Wingert Realty and Land Services in Mankato, Minn., sales thus far for the year include:
Rice County, Minn., May. North of Faribault, 197.73 acres, $7,326 per acre. Gravel pit purchased for mineral rights.
Redwood County, Minn., March. North of Walnut Grove, 142.44 tillable acres, CPI (Crop Productivity Index) 90, $7,490 per tillable acre.
Martin County, Minn., March. West of Fairmont, 158.62 tillable acres, CPI 92.5, $7,588 per tillable acre.
Murray County, Minn., February. Northwest of Slayton, 56.3 tillable acres, CPI 91.8, $8,533 per tillable acre. A second property also sold in February that was northwest of Slayton: 78.56 tillable acres, CPI 89.6, $8,205 per tillable acre.
Swift County, Minn., February. North of Appleton, 270.88 tillable acres, CPI 92.7, $4,955 per tillable acre.
Blue Earth County, Minn., February. West of Amboy, 37.73 tillable acres, CPI 86.7, $8,110 per tillable acre.
Brown County, Minn., February. South of Springfield, 76.5 tillable acres, CPI 94.2, $7,552 per tillable acre.
Steele County, Minn., January. North of Ellendale, 101.27 tillable acres, CPI 69.9, $5,925 per tillable acre.
Watonwan County, Minn., January. South of Madelia, 144.1 tillable acres, CPI 92.8, $9,485 per tillable acre.
Dakota County, Minn., January. South of Farmington, 298.92 tillable acres, CPI 92.4, $8,428 per tillable acre.
Sources: Farmers National Co., Wingert Realty and Land Services