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ASFMRA Ag News - September 26, 2023

By ASFMRA Press posted 3 hours ago
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SOLD! 115 Acres of Missouri Farmland Just Sold For $34,800 Per Acre, Smashing the Previous Record Move over Iowa, there’s a new record farmland sale on the books. A piece of Missouri farmland underwent rapid-fire bidding, which racked the final price tag up to $34,800 per acre. The recent sale now beats out the previous record of $30,000 per acre in Iowa. According to the bill of sale from Dyer and Fenner Auctioneers, the record sale happened last Thursday in Saline County, Mo. Two farmers got in a bidding war, and in just 15 minutes the 115 acres sold for $34,800 an acre, setting the new record. The buyer wasn’t an investor. The winning bid came from ...
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ASFMRA Ag News - September 12, 2023

By ASFMRA Press posted 13 days ago
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Summit Carbon Solutions Denied Permit for Carbon Dioxide Pipeline South Dakota's Public Utilities Commission on Monday denied a permit application from Iowa-based Summit Carbon Solutions to build 495 miles of pipeline through the state to transport captured carbon dioxide from ethanol plants to an underground storage site. The three-member commission voted unanimously to deny the company's application on what was set to be the first day of three weeks of evidentiary hearings on the project. Summit said in a statement that it respects the commission's decision and plans to refine and refile its application. On Friday, the PUC's staff recommended in a ...
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ASFMRA Ag News - August 29, 2023

By ASFMRA Press posted 27 days ago
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Proposed Bill Would Increase Exemption for Estate Taxes Congressman Jimmy Panetta of California has reintroduced a bill in the U.S. House of Representatives with the aim of increasing the 2032A special-use valuation cap for qualified family farms. The intent of the increase is to reduce the number of family farms having to sell farm-related assets to satisfy an estate tax debt. If passed, the higher exemption will have a significant positive impact for farm families in taxable estate brackets. 2032A is a helpful tax valuation for farm families that reduces the value of some farm real property. Rather than having to value farm real property at market ...
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ASFMRA Ag News - August 15, 2023

By ASFMRA Press posted 08-15-2023
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Why Big Finance Is Betting on Farmland On the wind-swept plains of the heartland, an agricultural revolution is quietly underway. This one’s not led by advances in machinery or biotech, but rather by the inconspicuous behemoths of financial institutions: the institutional investor. Who are these institutional investors? Everyday individual investors make up the entities buying farmland, bringing together funds from people of various professions and backgrounds. Individual investors are people just like you and me: teachers, health-care workers, civil servants contributing to pension funds, or affluent individuals or families engaged with mutual funds or ...
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ASFMRA Ag News - August 1, 2023

By ASFMRA Press posted 08-01-2023
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The ASFMRA Land Report on RFD-TV The ASFMRA has partnered with RFD-TV to bring you the ASFMRA Land Report, a weekly segment where the nation's top rural property professionals share timely updates on regional agricultural issues and market developments, with special attention paid to our most important resource: American farmland. Tune in to the leading ag and rural news network each Wednesday at 12:30 PM CT to gain insights from accredited land experts and learn the stories behind the numbers! Episodes to date: Rebecca Stone, ARA – July 26 Skye Root, AFM, AAC – July 19 Doug Hodge, ARA – July 12 Rick Hiatt, AFM, ARA – July 5 Tony ...
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ASFMRA Ag News - July 18, 2023

By ASFMRA Press posted 07-18-2023
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New Law Reduced South Dakota Farmland Valuations by $120.5 Million A South Dakota law that empowers counties to re-designate swaths of land from crop-land to non-crop land, aided in reducing farmland valuations by a total of $120.5 million. On Tuesday, lawmakers pressed the State Department of Revenue on whether the implementation of this law is working the way it was intended. The law, SDCL 10-6-130, permits South Dakota counties to assess the soil classifications of their land, and determine whether land with Class IV soils, or soils that have severe limitations that restrict crop growth, should be deemed cropland or non-crop land, potentially saving ...
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ASFMRA Ag News - June 20, 2023

By ASFMRA Press posted 06-19-2023
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Who Owns Iowa Farmland? Fewer than half the people at a recent farm auction in Clinton County were actual bidders. The rest came for the cookies, conversation and to see who would walk away with 150 acres of Iowa dirt. Would it be the men in suits sitting in folding chairs by the wall? What about the old-timer in overalls? Or would an online buyer swoop in with the highest bid? Read the Full Story Apple Co-founder to Sell Huge Carmel Valley Ranch for $35 Million A legendary Silicon Valley tech leader who bought a vast ranch in Carmel Valley 40 years ago is selling the property to a conservation group to become a new public preserve and cultural ...
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ASFMRA Ag News - June 6, 2023

By ASFMRA Press posted 06-05-2023
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Income Surges From Alternative Farmland Leases Every year presents a unique blend of challenges and rewards for farming. Few things have as much impact on a farming operation as land rent. In Illinois, 2022 proved to be exceptional for farmers and, subsequently, landowners, as reported in the recent survey by the Illinois Society of Professional Farm Managers and Rural Appraisers. One key finding was the significant surge in average income for landowners from alternative leases compared to the previous year. These numbers speak volumes about the prosperity that buoyed the farming community. Read the Full Story Dallenbach Racing Family Sells Iconic ...
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ASFMRA Ag News - May 23, 2023

By ASFMRA Press posted 05-22-2023
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USDA Streamlines Conservation Easement Program The U.S. Department of Agriculture (USDA) announced an effort to streamline its Agricultural Conservation Easement Program (ACEP), updating its process around land appraisals and land surveys while certifying organizations that help the Natural Resources Conservation Service (NRCS) with the process of rolling land into easements. The ACEP aids landowners in conserving, restoring, and protecting wetlands as well as at-risk grasslands. Read the Full Story Inn at Dos Brisas Shaves $2.5M Off Asking Price A more than 300-acre Texas ranch—including the largest private indoor riding arena in the state—is ...
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ASFMRA Ag News - May 9, 2023

By ASFMRA Press posted 05-08-2023
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Land Values Holding Their Own Land values are holding up throughout the High Plains, according to an expert who tracks rural real estate sales. Paul Schadegg, AFM, Senior Vice President of Real Estate Operations at Farmers National Company, says the double-digit increase in values in recent years has slowed but the market is resilient. “A year ago we fully anticipated see some settling in the market,” he said. Instead the market went a different direction. “It really accelerated into the second half of 2022 and we really didn’t see any kind of settling until somewhere between the third and fourth quarter.” Read the Full Story [WATCH] Could Farmers ...
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ASFMRA Ag News - April 25, 2023

By ASFMRA Press posted 04-24-2023
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The Truth About Soil’s Ability to Sequester Carbon Much fanfare accompanies programs that pay farmers to sequester green-house gases such as carbon dioxide, methane, and nitrous oxide in their soils. Yet, questions linger as research casts doubt on whether the promise equals reality. “Just about everywhere we look, there are claims about carbon sequestration being akin to the holy grail for agriculture and, by extension, the environment,” says Ben Palen, a fifth-generation Kansas farmer and manager at Ag Management Partners. “There is nothing wrong with modest improvement, but often the promise and the reality do not match.” “I worry that we are selling ...
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ASFMRA Ag News - April 11, 2023

By ASFMRA Press posted 04-10-2023
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Wind Turbines and Farmland Values Rising land values have been one of the constants in the agriculture industry, but adding energy projects is likely to provide additional value. Jim Rebhuhn, accredited farm manager with Hertz Farm Management in Mt. Vernon, Iowa, said adding a wind turbine to any ground is a good way to boost its value. The same is likely true of solar panels, but there isn’t enough data to make a definite statement on that yet. “The most data we have is on wind turbines, because they’ve been around longer than some of these solar farms. But in just about every case, when a farm sells and it has a turbine on it, we are seeing a premium,” ...
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ASFMRA Ag News - March 28, 2023

By ASFMRA Press posted 03-27-2023
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John Wayne’s California Ranch Hits the Market for $12 Million A sprawling California ranch once owned by John Wayne has hit the market. The Rancho Pavoreal (Peacock Ranch in Spanish) is available for $12 million, FOX Business has learned. The property spreads 2,000 acres in Sage, a small agricultural community. The 3,000-square-foot residence is located 20 minutes away from Temecula Wine Country and is situated halfway between San Diego to the south and Palm Springs to the northeast — about a 90-minute gallop from each. It’s also a two-hour drive from downtown Los Angeles. Read the Full Story Illinois Farmland Still off to the Races, End in Sight ...
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ASFMRA Ag News - March 14, 2023

By ASFMRA Press posted 03-13-2023
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Maryland Farmers Seek Protection From Surprise Tax Bills Howie Feaga got an eye-popping tax update last year for his farm in Ellicott City, Maryland. The assessed value of his buildings had leaped from $400,000 to $1.2 million, translating to a huge overnight increase in his property taxes. “Farm buildings do not increase in value like that,” Feaga, of horse and beef operation Merry Acres Farm, told lawmakers Feb. 21. “Please understand that farmers that farm for a living cannot make a change in their budgets to handle an increase like that.” Feaga was able to get his assessment reduced on appeal, but his experience typifies what Maryland ag advocates ...
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ASFMRA Ag News - February 28, 2023

By ASFMRA Press posted 02-28-2023
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Selling Iowa's Historic Prison Farms During the Great Depression, when food was scarce across the country, men incarcerated at the Anamosa State Penitentiary grew the vegetables and fruit they ate behind bars. They raised hogs, cattle and poultry, collected eggs and even made milk, cheese and ice cream. Prison farms in Iowa and across the country not only supplied food for incarcerated people but they were the first prison vocational programs outside prison walls. The state now is considering selling more than 4,000 acres of farmland surrounding Iowa prisons and other residential facilities to raise an estimated $32.7 million. About one-third of the land ...
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ASFMRA Ag News - February 14, 2023

By ASFMRA Press posted 02-12-2023
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Bringing Millennials and Farmland Together Friction between generations has been going on for a very long time. Descriptions like lazy, entitled and excessive can be found for each new generation in literature all the way back to Aristotle. Maybe routine, everyday life causes those of us in the older generation to just forget what it’s like to be young. I tend to think that each successive generation faces challenges and opportunities that differ from the previous generation. And that gives each generation a unique view of the world, which can ultimately divide us. Whatever the reason, young adults are the most valuable resource we have in agriculture. ...
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ASFMRA Ag News - January 31, 2023

By ASFMRA Press posted 01-31-2023
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Carbon Program Providers Say Buyer Demand Is Outpacing Farmer Supply It might seem like farmer interest is a moving target fueled by fluctuations in the commodity markets. While carbon programs announce their first and second rounds of payments to farmers, it seems the price for the carbon sequestered is also a moving target. Carbon by Indigo announced their second tranche of payments in December 2022 – $3.7 million to 450 farmers. The company reports it has consistently increased the price it pays for carbon credits. “Demand is currently outpacing credits produced by farmers in our program,” says Heather Gieseke, vice president of carbon commercial for ...
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ASFMRA Ag News - January 17, 2023

By ASFMRA Press posted 01-16-2023
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Joe Burrow, Blake Griffin and Other Pro Athletes Take a Stake in Iowa With Farm Purchase Some of the biggest names in pro sports ― a group including Cincinnati Bengals quarterback Joe Burrow, Boston Celtics forward Blake Griffin and Toronto Blue Jays pitcher Kevin Gausman — are spending $5 million or more buying U.S. farms, with their first purchase coming in Iowa. The coalition of about two dozen players bought the 104-acre north Iowa farm and plan to acquire more, according to Patricof Co., a specialized private New York investment firm facilitating the deal. The company declined to say how much the Iowa farm cost. Front Office Sports said the sports stars ...
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ASFMRA Ag News - January 3, 2023

By ASFMRA Press posted 01-03-2023
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$1.7 Trillion Omnibus Bill May Curb Syndicated Conservation Easement Abuse The $1.7 trillion federal spending bill includes a change designed to curb the abuse of tax incentives for land conservation. Federal conservation easements enable property owners to take a charitable deduction when they give up certain rights to develop land. The incentives, which were made permanent by Congress in 2015, help offset the owners’ financial loss for other potential uses for the property. However, misuse of those deductions has been a persistent problem, whereby groups of investors may obtain inflated land appraisals and receive higher tax deductions. The appropriations ...
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ASFMRA Ag News - December 20, 2022

By ASFMRA Press posted 12-19-2022
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5 Characteristics of Record-High Land Sales It seems like you can’t turn around these days without seeing another headline touting record-setting prices for farmland. At least that’s what comes up in my newsfeeds, the most recent one being for $30,000 an acre in Sioux County, Iowa, which lies in northwest Iowa. Just what do they put in their water in Iowa? This sale beat out other recent sales of $26,250 per acre in adjacent Plymouth County, also in Iowa, and a sale of $27,400 per acre in Richardson County, Neb., located in the southeast portion of the state. How do recent Illinois farmland sales compare? Read the Full Story CO2 Pipeline Company Plays ...
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