Minnesota farmer bullish on farmland


Minnesota farmer bullish on farmland

The farmland market continues to be strong across the Midwest.

In southern Minnesota, corn and soybean farmer Tim Waibel says 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, we certainly all know that drives the price.”

The Minnesota Corn Growers Association chairman tells Brownfield larger parcels don’t seem to scare 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 because I think the guys that are buying the land are in good financial shape.”

Waibel, who farms near Courtland, 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.”