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Clint Eastwood’s “Unforgiven” Movie Ranch Lists For $19.2 Million The 1992 film Unforgiven, directed by and starring Clint Eastwood, was one of the most critically acclaimed Westerns of the 1990s. The recipient of four Academy Awards (best picture, best director, best supporting actor and best editing), the film was selected for preservation in the Library of Congress National Film Registry. It was also a major commercial success, grossing $159 million on a budget of $14.4 million. Eastwood, one of his generation’s most famous cowboy actors, made the film to reflect and comment on the Western genre and his own previous work within it. He dedicated the movie ...
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Farmland Values Hit Record Highs, Pricing Out Farmers A series of economic forces — high prices for commodity crops like corn, soybeans and wheat; a robust housing market; low interest rates until recently; and an abundance of government subsidies — have converged to create a “perfect storm” for farmland values, said Jason Henderson, a dean at the College of Agriculture at Purdue University and a former official at the Federal Reserve Bank of Kansas City. As a result, small farmers are now going up against deep-pocketed investors, including private equity firms and real estate developers, prompting some experts to warn of far-reaching consequences for the ...
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Interest Rate Hikes Not Impacting Illinois Farmland Values, Yet An ag appraiser says multiple interest rate hikes have had little impact on farmland values in Illinois so far. Kent Reid, Chief Appraiser for Farm Credit Illinois tells Brownfield since the Fed began raising rates in May, farmland values in their 60-county territory have remained stable. “We still are not seeing any major effect on farmland. The land values have held steady throughout that.” Read the Full Story Cow-Harming ‘Forever Chemicals’ Strain USDA’s Relief Resources Dairy farmer Art Schaap had to watch his cows slowly die for over three years before the federal government paid ...
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New Record: Iowa Farm Joins the $26,000 Per Acre Club Farmland is still going for record amounts. Just look at this recent sale in Iowa. In Plymouth County, Iowa, a new record was set to the tune of $26,250 per acre. The farmland included 55 acres of high-quality farmland, according to Brock Auction Company, which managed the sale. That means the total bill was $1.44 million. The tracts included 53.8 cropland acres with a 27.11-acre corn base with a 176 bu. PLC Yield index and a 25.74-acre soybean base with a 53 bu. PLC Yield index. The Plymouth County assessor and NRCS office show the main soil types to be Galva with some Primghar and Colo. The farm carries ...
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Drastically Low River Levels Impacting Grain Transportation Severely low water levels on the Mississippi River have slowed grain transportation. South Central Illinois farmer Dan Hiestand tells Brownfield this is a major concern as they harvest corn and soybeans. “The river is low so they can only fill the barges half to two-thirds full to keep them from grounding. That is a concern, especially right now during harvest time, when barges are most in demand.” Hiestand says as a result, freight rates have skyrocketed. USDA data indicates the cost per ton to ship from St. Louis to the gulf has gone up more than 200% from last year. Read the Full Story ...
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Terry Bradshaw’s Oklahoma Ranch Back on the Market Back in 2019, there was lots of buzz about the Oklahoma ranch of iconic Pittsburg Steeler player and broadcaster Terry Bradshaw going up for sale. However, the prospective buyer who was attempting to acquire the ranch failed to close on the transaction — which means the 744-acre state-of-the-art equine breeding facility, cattle facility, and recreational ranch is back on the market. Let me just dig around in my jeans pocket for that $22.5 million asking price. The property and facilities in Thackerville, Oklahoma, about an hour from Dallas and Fort Worth, are a turnkey-ready proposition for a major equestrian ...
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Eminent Domain Concerns Cloud Pipeline Proposals Three carbon capture and sequestration (CCS) pipelines are proposed to crisscross the Midwest, collecting CO2 from ethanol plants and other partners to permanently isolate it underground. Stakeholder response has ranged from dissent to praise, but the possible use of eminent domain has landowners particularly fired up. “Unfortunately, [eminent domain] has been painted and mischaracterized as something that is a trump card, and that is absolutely not the case,” says Elizabeth Burns-Thompson, vice president of government and public affairs at Navigator CO2 Ventures, one of the three pipeline companies. Many landowners ...
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Have Land Values Peaked? Expert Sees Prices Steady With Record-Setting Sales in Iowa Land values have hit record levels in the past year. According to USDA's National Agricultural Statistics Service, U.S. land values so far in 2022 are up $420 per acre, or 12.4%, to an average $3,800 per acre. The biggest percentage increase comes in Iowa, but other Midwestern states aren’t far behind. The question everyone wants answered is can land prices keep going up? In times of high commodity prices, it's not uncommon to see land values rise, but there have been some record-setting values and percentage increases this year. For example, Iowa land values have increased ...
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Disney Family Ranch Lists at $71 Million A secluded Wyoming ranch once owned by the Walt Disney family that is surrounded by mountains and national forest, and is located just 23 minutes from Yellowstone National Park, has hit the market for $71 million. Diamond G Ranch sits about 90 miles east of Jackson Hole, near the town of Dubois. The ranch spans about 5,000 deeded acres and contains a five-bedroom lodge that has served as the owner’s residence. Other structures include a log guest house with an enclosed porch and two log cabins. There’s an enormous century-old barn with storage on the first level and an office, boardroom and kitchenette upstairs. Another ...
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How the War in Ukraine is Impacting U.S. Farmland Prices A later planting schedule in many states, coupled with the conflict in Ukraine, has had an impact on producer inputs, the market and land prices, according to a land value report from Farmers National Company, which offers landowner services such as real estate and auction sales and professional farm management in the U.S. The stronger land prices of late 2021 continued higher through the first half of 2022, according to the market report. After a calm period at the start of 2022, in which the land market remained steady, sales prices took another jump up as a result of the outbreak of war in Ukraine ...
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Farmland Hits New Records According to final results from the University of Nebraska-Lincoln's Nebraska Farm Real Estate Report, overall farm prices in the Nebraska rose 16% this year to $3,360 an acre, an all-time record. Values were strongest in the northeast part of the state, up 21%, while the northern region had the smallest increase of 11%. The UNL report is actually pretty conservative in its estimate of the increase in land prices in the state, however. A report from the Federal Reserve Bank of Kansas City estimated Nebraska's fourth-quarter land prices were up 31% for non-irrigated cropland, 21% for irrigated land and 23% for ranchland compared with ...
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$45 Million Ranch for Sale Near Rapid City One of Rapid City’s oldest families is selling its almost 4,300 acres for future growth as the region continues to expand. Bob Borgmeyer said the Selador Ranch, which is listed at $44,995,000 as of Wednesday morning, is largely untouched. “Our ranches are two blank spaces which should be owned by someone who can better integrate them with the imminent updated comprehensive planning and public works efforts including Ellsworth and its projected 13.5 mile water pipeline,” he said in an email to the Journal. Read the Full Story North Dakota AG Clears Farmland Purchase Tied to Bill Gates North Dakota’s attorney ...
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Is Trouble Brewing for the Farm Economy For the first time since September 2020, the rural economy is showing signs of weakness. That’s according to the March Rural Mainstreet Index (RMI) from Creighton University. For June 2022, the RMI sits at 49.8. That is down from May’s 57.7. The index ranges between 0 and 100 with a reading of 50 representing growth neutral and is generated by a monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. “Much like the nation, the growth in the Rural Mainstreet economy is slowing,” says Ernie Goss, who chairs Creighton’s Heider College of Business and leads the RMI. “Supply ...
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Iowa Has Seen a 10% Increase in Cash Rent in 2022, Due to Higher Commodity Prices The most recent annual survey of cash rental rates for Iowa farmland shows that rates increased, on average, by 10.3% in 2022 to $256 per acre. This is the third consecutive and largest uptick in cash rents since 2013, when rents peaked at $270 per acre — a level 5.5% higher in nominal terms than in 2022. In comparison, nominal corn and soybean prices received by farmers in Iowa declined by 16% and 11%, respectively, since mid-2013. Iowans supplied 1,401 usable responses about typical cash rental rates in their counties for land producing corn and soybeans, hay, oats and pasture. ...
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Who Are the Biggest Absentee Landowners in Illinois? It was a cold January day in 2021 when Eric O’Keefe, editor and founder of The Land Report, walked up to the podium at the Land Expo in Iowa and announced Bill Gates as America’s largest individual farmland owner. He learned this after investigating Gates’ purchase of the 100 Circles farm in eastern Washington by one of Gates’ holding companies. I oversaw the management of the 100 Circles farm when Gates bought it during my tenure at Hancock Farmland Services, in 2018. Nestled next to the Columbia River Gorge, the farm was a sight to behold. Long warm days and cool summer nights with plenty of water from ...
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Strengthened Commodity Prices; But High Cost Inflation Worries Farmers The Purdue University-CME Group Ag Economy Barometer improved in April to a reading of 121, which was 8 points higher than a month earlier. Despite this month’s increase, the ag sentiment index remains 32% lower than its April 2021 reading. This month’s modest rise in the barometer was attributable to an improvement in ag producers’ perspective on their current situation as well as what they expect for the future. The Index of Current Conditions rose 7 points to a reading of 120 while the Index of Future Expectations rose 9 points to an index value of 122. Similar to the barometer, both ...
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Who Will Drive Future Farmland Purchases We’ve all heard the saying, “The cure for high prices is high prices.” This has been the case in commodity markets where farmers have historically responded to supply and demand cycles by producing more grain when called on to do so. However, this may be more difficult to apply to land prices since we cannot produce more land. Six months ago I asked in the article "Is the Hot Farmland Market Sustainable," which will run out first: acres, or buyers? There is no question the hot farmland market continues. Land buyers still seek more acres, even after a record amount of land was offered for sale late last year. Recent ...
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Western Kansas Land Values Could Lose Billions As Water Sources Run Dry In increasingly dry western Kansas, underground water makes everything possible. Irrigation for crops. Stock water for cattle. Drinking water for towns. In all, the Ogallala Aquifer provides 70-80% of water used by Kansans each day. So how much is all that water worth? A recent study from Kansas State University says the aquifer under western Kansas increases land values by nearly $4 billion. But those billions are drying up at an accelerating rate. Aquifer water levels across western and central Kansas dropped by more than a foot on average this past year. That’s the biggest single-year ...
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Nebraska Land Values on the Rise The value of agricultural land in Nebraska increased by an average of 16% over the prior year, to a statewide average of $3,360 per acre, according to the preliminary findings of the 2022 Nebraska Farm Real Estate Market Survey. This marks the largest increase in the market value of agricultural land in the state since 2014, and is the highest non-inflation-adjusted statewide land value in the history of the survey. According to the survey, higher commodity prices and interest rates near historic lows have contributed to the recent robust real estate sales market. Survey participants also reported that those purchasing land ...
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Is Farmland Set to Deflate? The Federal Reserve Bank of Chicago released its quarterly AgLetter in early February, reporting land values in Illinois jumped an astonishing 18% in 2021. Auction results for prime farmland are reaching stratospheric levels of $17,000 to $18,000 per acre. These are prices never seen before. Is it a bubble? Economic bubbles can be described as the competition of greater fools. That is, the investor purchasing today relies on the presumption that there is a greater fool who will buy from them at a higher price tomorrow. Of course, nobody thinks they are the fool in the moment. Everybody knows smart business is to buy low and sell ...
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