UNDATED (LEARFIELD) — The farmland market continues to be strong across the Midwest. In southern Minnesota, corn and soybean farmer Tim Waibel says the quality ground is going for $10,000 to $14,000 an acre:
“All depends on you know, if you’ve got an 80-acre chunk that’s sitting between two guys and they both want it,” said Waibel. “We certainly know that drives the price.”
Waibel says larger parcels don’t seem to be scaring off farmers like they used to.
“Used to be that 160 acres, a lot of people couldn’t handle that, but the last few years 160-acre chunks have been bringing about as close as what an 80 does,” said Waibel. “I think the guys that are buying the land are in good financial shape.”
He says rising interest rates could soften the land market. But he doesn’t expect much immediate impact because “there’s a lot of cash in the country.”