Farm Progress Report – Land Sales Bulletin

Federal Reserve’s 7th District Shows Flattening Farmland Values as Credit Pressures Rise

Jennifer Moran | September 14, 2026

Farmland values across the Federal Reserve’s 7th District held steady in the second quarter of 2024, marking the slowest growth since late 2024, according to Farm Progress reporting based on a survey of 79 agricultural lenders . The district covers several of Land Sales Bulletin’s Midwest reporting states, including Iowa, northern Illinois, Indiana, southern Wisconsin, and Michigan’s lower peninsula .

Highlights

Iowa led the region with a 4% annual gain in farmland values .
Illinois posted a modest 1% increase, while Indiana values declined 3% and Wisconsin fell 2% .
When adjusted for inflation, district farmland values declined 3.71% year over year, the largest real drop since Q3 2016 .
Non‑ag buyers, including solar and data center developers, continue influencing land markets across the Midwest states .
Credit concerns are mounting, with major or severe repayment problems rising to 3.7% of district farm loans, the highest level since 2020 .
Not a single lender reported improved repayment rates compared to last year, and 27% indicated repayment rates are declining .

Farmland values may be flattening, but credit pressures are building across the Midwest. For LSB’s reporting states, the combination of stable nominal values and rising financial stress underscores the importance of monitoring both land markets and lending conditions heading into 2027.

Listen or Read more from Farm Progress: https://www.farmprogress.com/farm-business/farmland-values-flatten-as-credit-concerns-mount

Minnesota Farmland Sales Reflect Firming Market Conditions

Jennifer Moran | September 3, 2026

Land Sales Bulletin’s Midwest reporting state of Minnesota continues to monitor market sentiment as recent Farm Progress coverage highlights tightening yield expectations and stronger commodity price momentum. These recent sales results continue to show buyer preference for flat, open tracts with strong CPI profiles across Minnesota.

Summary Points

August WASDE reduced corn and soybean yield expectations, tightening supply forecasts
Pro Farmer’s Midwest crop tour reported lower than expected yields across much of the region
December corn near $5 and November soybeans around $12.40 have supported buyer confidence
Minnesota’s crop outlook appears exceptional, contributing to cautious optimism among farmers and buyers
Flat, open tracts continue to command premium pricing across Minnesota counties

Recent sales across Blue Earth, Chippewa, Cottonwood, Faribault, Kanabec, Le Sueur, Nobles, Sibley, Stevens and Swift counties reaffirm long‑standing buyer preferences for flat, open land with strong CPI ratings. These results align with themes commonly seen in Land Sales Bulletin’s Midwest reporting state of Minnesota, where slope, shape and drainage remain central to value alongside soil quality.

Author: Jared Augustine, Hertz Farm Management
Farm Progress Report: recent-farmland-sales-reaffirm-buyer-preferences

Iowa Farmland Market Holds Steady as Fall Auction Activity Builds

Jennifer Moran | August 17, 2026

Iowa’s farmland market has remained stable through 2026, with pricing movement staying within a narrow band that reflects a flat, sideways trading environment. As fall approaches, market observers expect a potential uptick in sale volume, driven in part by high land prices and decisions from landowners who have recently inherited property.

Summary Details on our Midwest Reporting State

Iowa’s 2026 land market has been notably stable.
Recent Chicago Fed reports show minor quarterly shifts of plus 2 percent and minus 1 percent, reinforcing the sideways pricing trend.
Higher land prices often correlate with increased sale volume from inherited properties due to stepped up basis considerations.
Market conditions supported by $4.50 corn and government payments may help absorb additional volume this fall.

Iowa Highlights

Recent sales range broadly from $145 to $190 per CSR2 point on tillable acres, with occasional outliers driven by local dynamics rather than broader trends.
Strong auction results across counties including Clay, Wright, Buchanan, Calhoun, Jasper, Linn, Fremont, Wayne, and Des Moines illustrate continued buyer engagement statewide.

Author: Doug Hensley, President of Hertz Real Estate Services. Read more from Farm Progress: Will more farmland go on auction block this fall?

Minnesota Farmland Market Shows Steady Strength as 2026 Sales Add New Clarity

Jennifer Moran | July 29, 2026

The latest Farm Progress report reinforces what Land Sales Bulletin continues to see across Minnesota: even after two years of breakeven agriculture, farmland values remain steady and supported by excellent crop ratings, timely rains, and long‑term buyer confidence. Timely rains are helping farmers “out‑bushel” lower commodity prices and maintain yield potential.

While commodity prices have softened, the Farm Progress analysis points to multiple factors keeping land values firm: low sale volume, neighborhood competitive dynamics, government support, legacy equity, new investment money, 1031 exchange activity, interest rates, and inflation hedging . As Farm Progress notes, short‑term market weakness has not overtaken long‑term thinking in farmland decisions.

Key Minnesota takeaways:

Strong crop outlook with USDA rating corn 67% excellent and soybeans 65% excellent
Timely rains strengthening yield potential
Seller‑friendly conditions for A‑quality land despite breakeven economics
Multiple market forces supporting values beyond commodity prices
Competitive sales across Minnesota counties:
- Blue Earth County: ~90 acres at $12,389 per acre, CPI 81.7
- Faribault County: ~40 acres at $12,000 per acre, CPI 91.9
- Le Sueur County: ~144.38 acres at $12,851 per acre, CPI 90.2
- Murray County: ~160 acres at $10,100 per acre, CPI 92.8
- Nobles County: ~160 acres at $12,500 per acre, CPI 93.3
- Polk County: ~80 acres at $10,000 per acre, CPI 91.1
- Sibley County: ~120 acres at $11,000 per acre, CPI 91.8
- Traverse County: ~141.21 acres at $8,500 per acre, CPI 93.7

As fall approaches, these finalized sales will provide additional data points that help define Minnesota’s market direction and reinforce the long‑term stability that continues to characterize the region. Read more from Farm Progress: Farmland market affected by much more than just commodity prices

Iowa Farmland Market Setting Up for a Late‑Season Sales Surge

Jennifer Moran | July 27, 2026

As one of Land Sales Bulletin’s Midwest reporting states, Iowa is showing early signs of a more active land market heading into late summer and fall. Here are the report highlights:

Iowa, one of LSB’s Midwest reporting states, may see a “flush of land sales” between Aug. 1 and Sept. 30.
Heirs who inherited land in 2024–25 may test the early‑season market before late fall and winter.
Demand continues to outpace supply statewide, keeping conditions seller‑friendly in 2026.
June Iowa sales showed strong pricing and competitive CSR2 ratios across multiple counties.
A brief pause is expected during peak harvest before another strong run of sales late in the year.

Recent June sales across Iowa reinforce that seller‑friendly environment, with strong prices and competitive CSR2 ratios observed in multiple counties. Market momentum is expected to pause briefly during peak harvest before another strong run late in the year. Source: Farm Progress
Author: Doug Hensley, President of Hertz Real Estate Services
Article Link: https://www.farmprogress.com/markets-and-quotes/surge-of-iowa-farmland-sales-likely-later-this-year

Sunflower Acreage Climbs in 2026: Strong Gains in North & South Dakota Lead the Nation

Jennifer Moran | July 23, 2026

U.S. sunflower acreage rose 5% this year to 1.35 million acres, according to USDA estimates, with the strongest growth coming from South Dakota and North Dakota. Oil‑type and non‑oil sunflower varieties both saw year‑over‑year increases, reflecting tight stocks, strong demand, and elevated prices heading into fall.

Among the eight major sunflower‑producing states, the Dakotas stand out. South Dakota posted the largest increase in planted oil‑type acres, up 56,000 acres from last year . North Dakota followed with a 30,000‑acre increase . Non‑oil sunflower acreage also expanded sharply, with South Dakota again leading all states with a 21,000‑acre jump .

For Land Sales Bulletin readers, this is a positive regional signal: both North Dakota and South Dakota—key LSB Midwest reporting states—are driving national growth in a crop tied to strong market fundamentals, tight stocks, and early‑harvest price premiums expected later this season .

South Dakota: Largest oil‑type acreage increase (+56,000 acres) and largest non‑oil increase (+21,000 acres).
North Dakota: Strong oil‑type acreage growth (+30,000 acres).
Market Context: Tight stocks and strong demand expected to keep prices firm into September.
National Trend: U.S. sunflower acreage up 5% year over year.

Read more from Farm Progress: U.S. sunflower acreage jumps 5% as tight stock pushes prices

Nebraska Farmland Sales Hold Steady Across Key Regions

Jennifer Moran | July 6, 2026

Nebraska’s land market continues to show strength this summer, even with limited inventory. According to Farm Progress, high‑quality farms remain in demand, with more buyers than sellers across the state.

Representative sales from five counties highlight the range of values and land types moving this season.

Garden County (Panhandle): 159.59 acres sold for $1,785/acre, featuring superior soils and strong ag plus recreational potential
Merrick County (East): 78.08 acres sold for $9,925/acre, a well‑managed Platte Valley irrigated farm with excellent water access
Lancaster County (Southeast Lincoln area): 124.06 acres sold for $18,499/acre, driven by transitional development potential and strong location advantages
Hall County (Central): 76.54 acres sold for $11,039/acre, positioned near strong grain markets and an ethanol plant
Johnson County (Southeast): 160 acres sold for $10,500/acre, with 96% tillable acres and completed conservation work

Nebraska remains a core state in Land Sales Bulletin’s Midwest reporting region, and these sales reflect a market where quality land continues to attract strong buyer interest. Farm Progress: Farmland sales hold steady across Nebraska

Minnesota Farmland Snapshot: Recent Sales Across Key Counties

Jennifer Moran | July 2, 2026

Minnesota’s farmland market continues to show resilience heading into the second half of 2026, supported by recent sales across several counties statewide. While values have softened slightly, the market remains stable, with widening gaps between excellent and moderate-quality tracts as buyer demand shifts.

3 Key Things to Watch in the Second Half of 2026

2026 Crop Outlook — In‑season yield expectations will heavily influence farmer optimism and market aggressiveness
Geopolitics — War, trade, interest rates, and tariffs continue to shape commodity prices and input costs, with potential rate hikes and shifting global commitments on the horizon
Government Support — Additional assistance programs may help producers manage rising fuel and fertilizer costs and provide underlying support for land values

As a key Midwest reporting state for Land Sales Bulletin, Minnesota continues to demonstrate steady strength in the Midwest land market. Farm Progress:https://www.farmprogress.com/management/3-things-to-watch-as-farmland-market-readies-for-second-half-of-2026

Dairy Investment Surges Across Key Midwest States During National Dairy Month

Jennifer Moran | June 18, 2026

June’s National Dairy Month arrives at a moment when several of our Midwest states are seeing major momentum in dairy processing investment. As processors look beyond traditional strongholds, states with growing milk supplies — including Iowa, Minnesota, South Dakota, Wisconsin, and Michigan — are emerging as strategic hubs for future capacity.

The article highlights Iowa’s return to the nation’s top 10 dairy states, driven by herd growth along the I‑29 corridor spanning western Iowa, southwestern Minnesota, and eastern South Dakota. Wisconsin continues to draw significant investment, with more than $1.1 billion tied to its long‑standing leadership in cheese and whey production. Michigan also stands out, attracting $1.3 billion in new processing capacity as it leads the nation in milk per cow productivity.

As processors “follow the milk,” the Midwest’s expanding production base positions the region for continued growth — reinforcing the essential role our states play in the nation’s dairy landscape. Read more from Farm Progress – farm progress – the-new-dairy-gold-rush-which-states-see-investment-in-processing

Iowa Farmland Values Hold Steady as Key Market Factors Take Shape

Jennifer Moran | June 16, 2026

In a new analysis from Doug Hensley, President of Hertz Real Estate Services, Iowa enters the 2026 growing season on “stable legs” thanks to limited land supply and continued buyer demand. Hensley outlines three forces that will shape the direction of Iowa’s land market through the second half of the year: crop prospects, geopolitics, and interest rates.

Iowa farmers — who continue to purchase 70% to 75% of row‑crop farms offered to the market — remain closely tied to in‑season yield expectations, influencing how aggressive they are in bidding for land. Geopolitical variables, including China’s soybean demand and the economic ripple effects of the Iran conflict, add further uncertainty for commodity prices and farm‑level profitability. Meanwhile, interest rate direction remains a critical watchpoint as inflation pressures push borrowing costs higher.

Despite these moving parts, recent Iowa sales — from Sioux County’s $26,600/acre auction to strong CSR2‑adjusted prices across counties like Story, Cedar, and Marion — reinforce the market’s underlying stability. Farm Progress: Will stable Iowa land values continue? Watch these 3 factors

As one of Land Sales Bulletin’s Midwest reporting states, Iowa continues to demonstrate resilience, disciplined demand, and a market that rewards high‑quality farmland even in a complex economic environment.