Despite recent agricultural economic concerns, land prices in Iowa and Missouri remain high. In Sioux County, Iowa, one sale brought $20,500 an acre, while a Missouri sale recorded $17,000 an acre.

A surprising sale of CRP land in Iowa County, Iowa, resulted in $17,000 per acre for a plot that had been sitting idle for 40 years. Iowa Appraisal farmland appraiser Jim Rothermich explained this was mainly due to a bidding war among local buyers eager for limited available farmland. CRP land prices are typically lower.

Rothermich noted that while there are still impressive high-dollar sales, the overall trend in land prices is gradually declining. A key warning sign is the increase in “no sales,” where land offered at auction doesn’t sell.

In September alone, Iowa saw 14 no sales, indicating a potential market adjustment. Rothermich attributes the sustained prices to buyers still holding cash, though not at the levels seen two years ago when prices consistently hit record highs.

Read more on trends in farmland pricing here.