September 10, 2014: How much is a good farm worth?

Its been a long, trying summer as far as commodity prices are concerned, and everyone has been setting around waiting to see what effect these low prices will have on the value of good land. Right now, the answer is:

 NO EFFECT WHATSOEVER!!!!!!!!!

Yesterday we had a public offering on a very good tract of land northeast of Craig, Mo. It was unimproved and on a gravel road, but most of it was Little Tarkio Creek bottom and the upland was Marshall Silt Loam; both good soils. We don’t do CSR’s (corn suitability ratios) like Iowa, but this farm would probably equate to a CSR of around 80 give or take a little. It was 89 per cent tillable and not much more could be gained. We had a large crowd and there were several well qualified bidders. When all was done the farm brought $8,500 per acre, or $9,606 per tillable acre.

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