Dan Piller reported in today’s Des Moines Register that,”A record farmland sale of $21,900 per acre in Sioux County is a fresh example that last summer’s drought has only added more fuel to Iowa’s farmland boom.
“‘We didn’t get hit as hard as people thought we would last summer,’ said Mike Duffy of Iowa State University Extension and author of an annual survey of Iowa farm land prices. Many Iowa farmers had better-than-expected corn yields, despite the worst drought in a half-century. (Click on above graphic for full view).
“The sale of 80 acres Thursday isn’t an isolated example. Another Sioux County tract went for $19,100 on Tuesday, and a 74-acre parcel near Carroll sold last Saturday for $16,000 per acre. A week ago an O’Brien County farm near Sheldon brought $15,400 an acre.”