A well-known farm magazine carried an article recently titled “Are Public Auctions Off Base?” written by the owner of an Iowa real estate firm. That’s a good question, certainly one that will generate discussion. The gist of the article is that land value surveys are mostly the result of opinions offered by those in the farm real estate business, including us. These opinions are mostly formed by the results of public auctions, which represent perhaps less than half of all land transfers in a given year. The article also notes that sales conducted privately have difficulty replicating auction results.
2018 has been a very good or a challenging year, depending on location. Many farms produced a record breaking corn and soybean crop, while other farms struggled from too much rain. Our summer newsletter detailed the early growing season difficulties faced in the northern two tiers of counties in Iowa and southern Minnesota this spring. After a reprieve of good weather through most of July and August, troubles resumed again in September and October. Multiple heavy rain events left saturated soils and standing water in many places over a wide swath of north central and northwestern Iowa, mostly from Highway 3 and north. Major flooding occurred in the same rivers, streams, and low-lying areas that were submerged earlier this spring and summer. The crop damage from this late-season flooding was somewhat limited because in most of these areas the yield damage was already done.
Travis Nissen and Dennis Reyman attended the American Society of Farm Managers and Rural Appraisers (ASFMRA) Leadership Institute in Washington D.C from September 10-14, 2018. This week-long conference provides participants the opportunity to meet with government officials and staffers, receive communication and advocacy training from the Wixted Group, and gain insight on key ag issues and policies. Visits were made to the Iowa Senate and Congressional offices.
We’re all well-aware of tariffs, trade wars, NAFTA, etc. by now. How has this affected our trade area, and what can we expect in the nearterm and longer-term? After all, about 1/6th of US corn is exported as are nearly half of our soybeans, not to mention all the beef, pork, ethanol, and other products which consume corn and beans domestically before being exported. China buys 2/3 of the world’s soybean exports, and has normally purchased more than half of US soybean exports.
Daniel Niemeier, AFM, has been awarded the Accredited Farm Manager (AFM) designation from the American Society of Farm Managers and Rural Appraisers (ASFMRA). Niemeier earned the AFM designation by meeting stringent requirements in experience and education in addition to passing a rigorous written examination and abiding by the American Society’s Code of Ethics. Niemeier joins a select 45 percent of the ASFMRA membership who have received the accredited status and currently maintain it through the ASFMRA continuing education program.