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Re: Just saw this on the other site. Southern Iowa rents at $615 per acre

Mike, those rents are higher than what I paid for most of my ground.  You really should not have posted this becasue the North of I-80 boys are having heart attacks.  RSW has probably passed out on the floor after reading this post.  I mean . . . these are great rents.  I wonder what the soil types were on this ground. There are some really good farms in Southern Iowa.  I always downplay the region because I live there. Lol. John

 

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Mizzou_Tiger
Senior Advisor

LMAO..........

tract 1 had a weighted average of 66 CSR2................and it rented for 545/acre

 

2..............42...................470

 

3..........61..............520

 

4..........74.................485

 

5...................62.............615

 

SO RSW..............WHY DONT YOU FREAKING SHOW ME A CSR TREND BUDDY..............YOU ARE A FLIPPING JOKE....................42CSR2 GROUND BRINGING WITHIN 15 DOLLARS OF 74 CSR2 GROUND.............AND 62 CSR2 BRINGING 615........

 

TAKE A HIKE DUDE..........

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Re: LMAO..........

MIzz - that is all class II land under the old CSR I am not familiar with CSR2.. it must be pretty good dirt, and improved.  Is any of it irrigated?  Great post. John  

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BlackCattle
Frequent Contributor

Re: LMAO..........

CSR2 maps really helped us Southern Iowa boys

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Mizzou_Tiger
Senior Advisor

Re: LMAO..........

"Please realize most public soil productivity rating systems are designed for equitable taxation, Not to tell the farmer which soil is the best investment………"

 

 

 

 

Not my words............quote from ISU Professor.........

 

as to the difference between CSR and CSR2...........the CSR2 system has qualitative and quanitative marks and measures that are on a higher resolution..........therefore should be more accurate.........the old CSR scale was highly subjective............the CSR2 scale is still base 100.........with the best soils in the best spots in IA being 100.........everything else being weighted below that based on those marks and measures.........

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Re: $500 cash rents?

RSW,

There are a lot of other factors that drive land prices locally and regionally . I wouldn't get too hung up on these ratings. Growing seasons in continious years can have a large effect on the value regardless of ratings. And just maybe there is a couple of well healed neighbors that just plain want it.  

 

Not sure it worth all this energy talking about these ratios and ratings.

 

If a guy has the cash and he wants it he's gonna buy it.

 

Lets see whats cash new corn?? 5.50 maybe less depending where you're at . How does that work with $12,000 acre land? or even a stretch with $500-600 an acre rent.

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rswfarms
Senior Contributor

Re: $500 cash rents?

 Shaggy- So they sold 50 acres for $800,000, that's $16,000/acre. Yes, that's probably about right for good-quality Iowa farmland today. And I was just kind of joking about you getting Iowa farmland from your Father-in-Law, I really was joking about that. So sorry about joking with you. on your wife's family farmland. My farther-in-law gave my wife 160 acres of Iowa farmland as a wedding present in 1986. After my wife and I got married, I mortgaged all 160 acres since it was paid-off and used that money to buy more farmland. That 160 acres from my Father-in-Law was nice to be able to have extra money to use to buy more farmland. I appreciated that wedding gift from my wife's family very much and it allowed the wife and I to further expand our Iowa farmland holdings alot which was very nice of him. He was a really good father-in-law to me.

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rswfarms
Senior Contributor

Re: LMAO..........

Well TIGER, so 66 CSR land in your part of Iowa rented for $545/acre or $8.25 per CSR Point. In Northern Iowa most land rents for $6.25 per CSR Point, or maybe slightly more, but $7.25 per CSR Point is about tops in Northern Iowa for cash rented dirt. And sometimes that $7.25 ground comes with some Tin Cans for storage in the $7.25 per CSR Point range. So, I really don't know who is getting the best deal. But I do agree with another poster about not putting all your eggs in the Corn Suitability Rating, it is just one of many variables to use as a tool to guage a farms productivity and hence it's cash rent someone will pay. But it is also a farms tile/drainage that plays into it too. Also if the farm is within 5 miles or so of an ethanol plant, it also may rent for a little more than one 30 miles away. But yes, the CSR Figure is not everything to determine the farms cash rent, there are many, many, other variables that also factor into the cash rent formula than just the CSR rating.

 

 

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Re: $500 cash rents?

I love these guys who spout off like rsw farms. This area is where I live. Been to two auctions in this area in the last month. One brought 9000 per tillable acre at 75 csr and the other one was in the 60's csr and didn't make over 7200 per tillable. As far as 185 yield the only place that could have done that is northwest Franklin. I think I know who you are rsw. Don't take him as the gospel for our area.

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rswfarms
Senior Contributor

Faust100..........

Faust, how's it going? I heard that you got banned too from AGWEB, like I did. Is that true and what did you post that you too got banned like I did from AGWEB? I don't remember you ever posting anything that should have got you banned from AGWEB, and that goes for me too. I certainly don't understand why AGWEB banned so many guys all at once. I believe they banned like a total of 5-6 guys total last week, I will never understand why they all of a sudden banned 5-6 guys at once. Well, that's ok and I will keep you current on the Iowa farmland market like I did on AGWEB. i really enjoyed talking to you on Iowa farmland sales and the long-term trend. Still it is very hard to believe in 1986 that Iowa top-quality dirt was selling for just a $1,000/acre and $11 per CSR Point. Today, the going rate seems to be a $150 per CSR Point. Yes Faust, you and I certainly got lucky buying our dirt at just a $11 per CSR Point. We were darn lucky Faust we jumped in during 1986, darn lucky!!!!

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