Found 33 acres... wow

[MossRoad]

Indiana farmland prices continue to rise in 2023

Indiana farmland prices once again hit record highs in 2023, according to the recent Purdue Farmland Value and Cash Rents Survey. Statewide, the average price of top-quality farmland averaged $13,739 per acre, up 7.3% from June 2022. Average- and poor-quality farmland increased 5.8% and 0.7% to...

www.purdue.edu

 

[CloverKnollFarms]

Wow. Awesome price.

It has some factors affecting this. It has some 100 year flood plain. I don’t care, I’m using it for pasture and honey production. It has a creek bisecting it… I don’t care, I’ll build a bridge (currently the neighbor allows access from his property). The land has one good building site on about 2 acres… the rest is very rolling and has limited access. All of these factors I can overcome. I’ll fix the access issue. The flood plain I won’t have a structure in, and I can use that fertile soil for honey crops. The views are amazing. Someone wanting to build a simple residence wouldn’t want to pay $170k for a 2 acre buildable parcel… I will, because I can use the other 31 acres for grazing cattle and honey production

 

[2manyrocks]

That's probably why it's for sale and hasn't already sold to someone else. Sounds like you'd enjoy it where someone else would complain the creek is in the way instead of saying it's great that it has a creek, etc.

 

[ponytug]

We bought at $1500/acre back in 1989. Next year it was $3K and has gone up ever since. $5K/acre today for small acreage is a very good price.

Congratulations!

So corn has almost doubled in price per bushel since 1989 ($2.40 to $4.80) cornfield is up by 50% in the same time frame, so $1500 to $5,000 per acre would seem on the money, so to speak.

Corn Prices - 59 Year Historical Chart

Interactive chart of historical daily corn prices back to 1959. The price shown is in U.S. Dollars per bushel.

www.macrotrends.net

Historical Corn Grain Yields in the U.S. (Purdue University)

The Corny News Network was created by RL (Bob) Nielsen, Extension Agronomist at Purdue University. The articles written for the CNN pertain primarily to corn production & management issues important for Indiana corn growers and their consultants.

www.agry.purdue.edu

Soybean prices are up much more, closer to 250%;
(This chart is in pennies/bushel!)

Soybeans - 2023 Data - 1977-2022 Historical - 2024 Forecast - Price - Quote - Chart

Soybean futures in the US fell toward $13.1 per bushel, their lowest in five weeks after the US National Oilseed Processors Association data showed US soybean crush fell more than expected to an 11-month low in August. The USDA projected a soybean harvest of 4.146 billion bushels, broadly in...

tradingeconomics.com

Soybeans are slightly better, almost doubling yield.

https://cropwatch.unl.edu/2018-CW-News/2018-images/Soybean/soybean-yield-data-2017.png

All the best,

Peter

 

[ponytug]

It has some factors affecting this. It has some 100 year flood plain. I don’t care, I’m using it for pasture and honey production. It has a creek bisecting it… I don’t care, I’ll build a bridge (currently the neighbor allows access from his property). The land has one good building site on about 2 acres… the rest is very rolling and has limited access. All of these factors I can overcome. I’ll fix the access issue. The flood plain I won’t have a structure in, and I can use that fertile soil for honey crops. The views are amazing. Someone wanting to build a simple residence wouldn’t want to pay $170k for a 2 acre buildable parcel… I will, because I can use the other 31 acres for grazing cattle and honey production

Sounds like a great analysis and a perfect fit for you!

 

[Rockbadchild]

for us the longest time 150 acres was $30 000 and that was a lots of money for it, then they started advertising it all the way down to Southern Ontario and asking ridiculous amount of money and it sells, so now the same land now sell for $150 000 to $200 000 I am happy I bought mine when I did, it was for sale for $40 000 for the last 15-20 years and I got it down to $20 000 3-4 years ago right before covid and everyone went crazy for land. My grand father sold that land for $1500 to the guy I bought it from 40 some years ago …

 

[CloverKnollFarms]

The real key is getting the utility to move the power lines across the building site, to another location. They could say no. They could say sure, but charge an exorbitant amount, or say yes and charge a reasonable amount. Really it all hinges on those stupid lines. Anyone have experience with this?

 

[jyoutz]

The real key is getting the utility to move the power lines across the building site, to another location. They could say no. They could say sure, but charge an exorbitant amount, or say yes and charge a reasonable amount. Really it all hinges on those stupid lines. Anyone have experience with this?

If you set a box on a pole and request new service at the new location, they might provide it. This worked for me one time.

 

[Yander]

Congrats on the nice property!

 

[Alan W.]

Beautiful property. You said there was some 100 year floodplain on the property, how much more is under a 500 year flood.
The reason I ask is in KY we have had a large number of 500 year floods lately.

As for goldenrod honey, yuck. My son’s bees have at times went crazy on the goldenrod and he couldnt give it away.