I’m sure many of you have heard the phrase “Steady as she goes” to describe a variety of things in life. As summer turns to fall, the Iowa market has seen a slow building of land-sales activity, including a small flush of pre-harvest sales with generally steady results. Even more sales are scheduled to follow harvest, which will certainly test the depth of today’s market.
Many prospective land sellers are watching two key factors closely: crop yields and the potential for a timely cut in short-term interest rates. Both could support stronger sale results, but time will tell.
What we do know is Iowa enjoyed more widespread rainfall throughout the 2025 growing season compared with recent years. But whether that wet weather leads to the potential big yields that everyone is hoping for is a question that won’t fully be answered until combines are fully rolling.
Some anticipate a little top-end yield loss because of plant disease pressures that flourished through the wet second-half-of-summer weather patterns. Having been out in some fields, I will agree.
However, I’ve always also said I’d rather fight having disease in a crop vs. watching it shrivel from a drought.
As for farmland sales between now and year-end, I’ve mentioned before that this market setup reminds me of 2015 to 2019, when we last experienced prolonged profitability pressures. During that time, producers did all they could to “bushel through” the commodity price weakness, and they continued to participate in acquiring nearby farms when it made operational sense.
Based on the early land sales this fall, I anticipate much of the Iowa land market will approach this scenario in a similar way — with long-game thinking. At times, the market may feel like walking a tightrope, but for now, steady as she goes.
Here are recent land sales:
Palo Alto County. Northeast of Mallard, ± 160 acres recently sold at public auction for $15,600 per acre. The farm consisted of ± 154 tillable acres with a Corn Suitability Rating index of 86.6, and equaled $187 per CSR2 point on the tillable acres.
Cerro Gordo County. West of Mason City, ± 77 acres recently sold at public auction for $8,400 per acre. The farm consisted of ± 73 tillable acres with a CSR2 of 69.1, and equaled $128 per CSR2 point on the tillable acres.
Clayton County. West of Edgewood, ± 164 acres recently sold for $14,500 per acre. The farm consisted of ± 155 tillable acres with a CSR2 of 84, and equaled $183 per CSR2 point on the tillable acres.
Sac County. East of Schaller, ± 132 acres recently sold at public auction for $15,700 per acre. The farm consisted of ± 130 tillable acres with a CSR2 of 95.9, and equaled $166 per CSR2 point on the tillable acres. Note: ± 10 acres of the tillable land are enrolled in a Conservation Reserve Program contract that expires in 2035 and pays $300 per acre annually.
Tama County. Northeast of Garwin, ± 156 acres recently sold at public auction for $12,700 per acre. The farm consisted of ± 151 tillable acres with a CSR2 of 89.8, and equaled $146 per CSR2 point on the tillable acres.
Iowa County. North of Williamsburg, ± 147 acres recently sold at public auction for $11,600 per acre. The farm consisted of ± 142 tillable acres with a CSR2 of 71.4, and equaled $168 per CSR2 point on the tillable acres.
Cass County. Southwest of Massena, ± 80 acres recently sold at public auction for $6,000 per acre. The farm consisted of ± 54 tillable acres with an average CSR2 of 55, and equaled $162 per CSR2 point on the tillable acres. Note: The balance of this land comprised pasture.
Marion County. North of Pleasantville, ± 43 acres recently sold for $12,488 per acre. This farm consisted of ± 40 tillable acres with an average CSR2 of 85.3, and equaled $159 per CSR2 point on the tillable acres. Note: Access to this land was provided only through an easement.
Louisa County. West of Columbus Junction, ± 60 acres recently sold for $12,398 per acre. The farm consisted of ± 59 tillable acres with a CSR2 of 81.3, and equaled $155 per CSR2 point on the tillable acres.