Minnesota farm sales point to stronger B-quality land demand

Eight recent Minnesota farm sales ranged from $6,000 to $13,750 an acre—or $6,396 to $14,672 per tillable acre—as optimism over harvest and possible $5 corn and $12 soybeans pointed to a strong fourth quarter for farmland.

What is driving expectations for November and December sales?

Harvest is in full force in Minnesota, creating a temporary lull while farmers concentrate on collecting the 2026 crop. Many farmers have finished combining beans and have a good start on corn. Iowa and parts of Nebraska and Illinois remain behind because heavy rains have slowed fieldwork.

Many southern Minnesota farmers are returning strong initial harvest reports. The assessment also mentions “whispers and rumors of record yields” from quite a few producers, but those claims are not confirmed harvested results and should be checked as combines finish.

Farmland sales over the past few years ran slightly down to steady. This early fall feels different, and farmers, lenders and brokers believe the market may see “quite a few trendsetting November and December land sales.”

The possibility of $5 corn and $12 soybeans, for the first time in a long time, would strengthen crop receipts. The assessment provides no input-cost or basis figures, however, so those price scenarios do not amount to a margin calculation.

High-quality land is expected to hold its value and demand. The forecast calls for stronger demand for B-quality parcels, with a possible increase for C-quality land. The farmland market can act as a barometer of rural economic strength, and its soft spots over the past two years appeared most often on lesser-quality farms.

What do the recent Minnesota sales show?

The selected list provides transaction benchmarks rather than a comprehensive sales index because it gives no closing dates, buyers or sale terms. Crop Productivity Index, or CPI, offers one measure of the parcels’ productivity.

• Brown County: North of Comfrey, about 80 acres sold for $13,750 per acre, or $14,672 per tillable acre. The farm had 74.97 tillable acres and a CPI of 93.3.
• Dodge County: Southwest of West Concord, about 231.08 acres sold for $13,415 per acre, or $13,717 per tillable acre. The farm had 225.99 tillable acres and a CPI of 96.1.
• Faribault County: Southwest of Frost, about 156.32 acres sold for $12,052 per acre, or $12,626 per tillable acre. The farm had 149.21 tillable acres and a CPI of 85.6.
• Fillmore County: East of Canton, about 69.41 acres sold for $10,200 per acre, or $10,411 per tillable acre. The farm had 68 tillable acres and a CPI of 88.5.
• Goodhue County: East of Dennison, about 40 acres sold for $10,250 per acre, or $11,325 per tillable acre. The farm had 36.2 tillable acres and a CPI of 94.1.
• Morrison County: Northwest of Randall, about 40 acres sold for $6,000 per acre, or $6,396 per tillable acre. The farm had 37.52 tillable acres and a CPI of 40.2.
• Pipestone County: South of Hatfield, about 80 acres sold for $11,250 per acre, or $11,435 per tillable acre. The farm had 78.7 tillable acres and a CPI of 92.4.
• Yellow Medicine County: Northwest of Cottonwood, about 86.79 acres sold for $9,000 per acre, or $10,034 per tillable acre. The farm had 77.84 tillable acres and a CPI of 85.6.

The range shows why quality and parcel characteristics still matter. Brown County’s 74.97 tillable acres carried the highest sale price, while the Morrison County parcel’s 40.2 CPI sat well below the other listed indexes. The list does not show CPI alone determining price: Dodge County posted the highest CPI, 96.1, at $13,415 an acre, below Brown County’s $13,750.

What does stronger B-quality demand change for farmers?

If buyers increase bids for B- and C-quality parcels in the coming months, the assessment reads that as evidence lower-quality farms are in better financial shape than they were in past years. That would signal improving rural finances, though actual margin improvement still depends on realized crop prices, input costs and basis that the source does not quantify.

Hertz Farm Management compiled the list but did not handle all sales. Buyers can contact the company at 507-345-5263 or visit hertz.ag.

If southern Minnesota’s yield reports firm up and corn and soybeans approach the cited $5 and $12 scenarios, November and December sales could broaden demand beyond top-tier farmland. Until those transactions close, the expected fourth-quarter strength remains a forecast, not a result.