OMAHA, NEBRASKA – July 18, 2023 – While cropland continued to gain value in the first half of 2023, Farm Credit Services of America (FCSAmerica) reports signs that the real estate market is stabilizing. FCSAmerica, a financial cooperative, appraises 63 benchmark farms twice a year to monitor trends in real estate in its four-state territory of Iowa, Nebraska, South Dakota and Wyoming. FCSAmerica’s July 2023 Benchmark Farmland Report was released today.

The chart below reflects the average change in value for multiple land types: dryland and irrigated cropland farms, crop-pasture farms and pasture-ranch operations. The number of benchmark farms appraised in each state is indicated in parentheses.

Benchmark values in the first half of 2023 remained strong in markets where the availability of land was limited and were steadier in areas with a consistent supply. Higher quality cropland also supported higher values, while average to below-average ground saw smaller increases. This is indicative of a more stable market.

Values on pasture and ranchland were supported by high demand and limited supply. Since July 2022, South Dakota has seen pasture values rise 12.2%, much of the increase happening in the past six months. Wyoming values are up 15.5% year-over-year. Nebraska pasture, by comparison, is down slightly.

For all agricultural land types, values remain at record highs. The steepest gains occurred in the last half of 2020 through 2021. The market has remained resilient in the past year despite successive interest rate hikes and drought in much of the region.

“The other driver in real estate is farm profitability and the overall financial health of agriculture, which has been extremely strong,” said Tim Koch, executive vice president of business development for FCSAmerica. “Profitability and optimism in agriculture have more than offset the negative pressures created by the increased interest rates.”

Profit margins continue to tighten because of higher input costs and lower commodity prices. Producers generally are planning for 2023 profits near break-even levels. This could result in a flattening of land values, with some areas possibly seeing a slight decline, Koch said.

“There is lots of liquidity on farm balance sheets and overall leverage is down significantly,” he said. “So even if profit margins, on average, return to break-even levels, the overall financial strength of producers will lead them to stay in the real estate market. We still could see instances of aggressive bidding for the right farm in the right location.”

Below are state-by-state trends in benchmark farmland values for the first half of 2023:

Iowa Values for 15 of the state’s 21 benchmark farms increased by less than 5%, and four declined slightly. The highest increase was 9.1%, the greatest decline, 6.3%. The overall year-over-year gain of 4.0% compares to increases of 37% and 12.8% in 2020 and 2021, respectively.

Nebraska Seven of the state’s 18 benchmark farms increased in value by at least 5%, with two experiencing double-digit hikes, including a northeast Nebraska farm with an 18.3% gain. Nine farms saw little to no change and two declined in value. The year-over-year increase of 8.4% statewide compares to gains of 22.1% and 14.3% in 2020 and 2021, respectively.

(Iowa DNR) – The Iowa Department of Natural Resources (DNR), today (Tuesday), said they are investigating an apparent drowning on July 14 on the Mississippi River near Buffalo Shores.

Two men were boating from the Buffalo Shores Campground to the shoreline near Beach Pub Bar in Buffalo where they intended to register for a fishing tournament. As they approached shore, Michael Eskridge, 48 of Davenport, was preparing the anchor line in the bow of the boat when he lost his balance and fell overboard.

Iowa DNR and the Buffalo Fire Department located and recovered Eskridge’s body at 8:15 p.m.

Eskridge’s body was located and recovered at 8:15 PM by the Iowa DNR and the Buffalo Fire Department. The Buffalo Police Department, Scott County Sheriff’s Office, Scott County Park Rangers, Muscatine Fire Department and Montpelier Fire Department were also dispatched and assisted in the recovery.

CRESTON, Iowa – July 18, 2023 – The Iowa DOT’s Creston Construction Office says if you plan on driving along U.S. 59 south of Shenandoah in the coming weeks, you need to be aware of a road construction project that may slow down your trip.

Starting on Monday, July 24, weather permitting, construction crews will be working on asphalt paving and grading work at the bridge over Fisher Creek, 1.2 miles south of Iowa 2 near Shenandoah. The roadway will be reduced to one lane with a lane-width restriction of 12-feet. You will be directed through the work zone with temporary traffic lights.

(Des Moines, Iowa) – Officials with the Iowa Department of Public Safety report that on July 13th, Troopers and Officers from multiple agencies joined law enforcement partners across the country, as part of the ongoing “Highway 20 Speed Enforcement Project.” The Project, started by the Iowa State Patrol, has grown into a nationwide effort among state police, state highway patrol and local police agencies, to promote traffic safety and reduce crashes across the 12 state that U.S. Highway 20 runs through.

U-S 20 spans nearly the length of the country, from east-to-west, running from Newport, OR to Boston, MA. It was designated as the longest highway in the country in 1989, at 3,365 miles. As of 2020, various projects have slightly shortened its length. The Highway 20 Project is a bimonthly collaborative effort, taking place on a select day with a two-hour initiative in the morning and again in the evening. During the July 13 initiative, 93 officers across the country made 691 contacts with the motoring public. Of those, 389 resulted in citations, 295 warnings, and seven motorists were assisted.

In Iowa, U-S 20 covers 333 miles. Over the course of the four projects in 2023, multiple officers from over 40 agencies have issued 1,965 citations, 1,275 warnings, and assisted 76 motorists. Lieutenant Brian Beenen, District 9 Commander, Cedar Falls, says “With the goal of improving safety and reducing crashes on all roadways, the Iowa State Patrol is thankful for the partnerships that have been made to make this project successful. This coast-to-coast initiative involves over 40 law enforcement agencies across the country. We look forward to continued collaboration to make our roadways safe.”

The public is encouraged to call 911 in Iowa or 911, to report drug activity and dangerous or impaired drivers.

(Radio Iowa) – Republican Senator Chuck Grassley says election year politics could be helpful in getting a bipartisan bill through the U.S. Senate. The bill calls for price disclosure in the cattle market, so people who aren’t selling cattle under a contract with one of the four big meatpackers can find out if the price they’re being offered is fair.

“When it comes to Midwestern people that don’t want a contract, they want a daily market, sometimes they can’t get a price,” Grassley says. “If they get a price, it’s only about 11% of the daily kill and they don’t know if it’s a fair price because the contract price isn’t in that daily average and this bill would put it in that daily average.”

Ten Democrats and a dozen Republicans are co-sponsoring the bill. Grassley met with Montana Senator Jon Tester and other key senators in his office last week to discuss a strategy for getting Senate Majority Leader Chuck Schumer to bring the bill up for a vote.

“We’re counting on Tester, being a Democrat up for reelection…having more of a voice with Schumer than we Republicans would have to hopefully move that bill,” Grassley says.

The bill did clear the Senate Ag Committee last year, but it was never considered in the full Senate.

(Atlantic, Iowa) – The Cass County Board of Supervisors, this (Tuesday) morning, acknowledged the receipt of a recommendation by the County Zoning Commission, to change the zoning classification from General Agricultural to Light Industrial, with regard to a parcel of land located in Pymosa Township. The request to the Commission was from Ronald West.

Zoning Commissioner Mike Kennen explained West’s request passed all the checks needed for approval.

He said West wants to change to the zoning for the purpose of establishing a gunsmithing, manufacturing, repair and sales business, similar to one approved in November, 2022, for McCunn Specialty Firearms, in Massena. Kennon explained where West’s shop is located.

Cass County Zoning Administrator Mike Kennon speaks with the County BOS 7/18/23.

After acknowledging the recommendation, the Board set their next meeting on July 25th at 9-a.m., as the date and time for a Public Hearing on the recommendation.

(Audubon, Iowa) – Audubon School District Superintendent Eric Trager reports the District’s building projects at the Middle School/High School Buildings have remained on-budget, and he’s hopeful they will be finished before the start of the 2023-24 School Year on August 23rd.

Even if the projects are not fully completed, as long as the life safety systems are in-place, the kitchen is fully up and operational, and all the inspections are done, there shouldn’t be any reason school can’t start on-time and the buildings occupied. Eric Trager said the construction trades industry, like many industries, are in desperate need of workers, and he suggests one way to fill that gap, is by encouraging students who are wondering what to do after they graduate, to attend a trade school.

He says opportunities abound for those who have the learned skills and work ethic. Mr. Trager said the Audubon School Board, Monday night, approved an Elementary School LED lighting project.

He said the Board also approved personnel matters, and several administrative items on their agenda, during their first meeting of the new fiscal year, including: The District’s Legal Counsel; Equity Coordinators; Asbestos Manager; Level 1 and 2 Investigators; Bank depositories and limits; and the separate second as well as first readings of multiple Board Policies.

They also approved the Sports Booster’s Concession Stand Project.

Mr. Trager said they’re excited to get the kids thinking about coming back to school and are looking forward to August 23rd. The next meeting of the Audubon School Board takes place August 21st.

(Atlantic, Iowa) – The Atlantic Police Departments reports there were eight arrests from June 30th through July 17th.

On Monday (7/17), 18-year-old Tate Conyers, of Atlantic, was arrested on a Cass County warrant for Domestic Abuse Assault.

There were two arrests July 13th, in Atlantic: 25-year-old Fancisco Salazar, of West Point, NE, was arrested for Public Intoxication, and, 47-year-old Amanda Bashor, of Atlantic, was arrested for 2nd Degree Harassment.

43-year-old Jeremy Waltz, of Atlantic, was arrested July 11th, for Criminal Mischief in the 2nd Degree.

Two people were arrested by Atlantic Police on July 7th: 34-year-old Shea Young, and 47-year-old Anthony Hernandez, both of Atlantic, were arrested for Disorderly Conduct.

On July 5th, Officers arrested 27-year-old Billy Tenson, of Atlantic, for Public Intoxication. And, on June 30th, 43-year-old Theodore Hansen, of Brayton, was arrested in Atlantic, for OWI.

All subjects were booked into the Cass County Jail. The jail roster as of July 18th, indicated Bashor, Conyers, Hernandez and Waltz, remained in the Cass County Jail. The others were held until their initial court appearances, and released or held for another agency.

(Radio Iowa) – Former President Donald Trump is due in Cedar Rapids this (Tuesday) afternoon to tape a town hall forum that will air tonight on Fox News. The event will be staged at the arena in downtown Cedar Rapids that was originally known as the Five Seasons Center, now called the Alliant Energy PowerHouse. Trump held a rally there in June of 2017, but today’s taping is not a a public event and tickets are sold out. Sean Hannity is the host and the forum will air during his 8 p.m. time slot on the Fox News Channel.

Trump has not appeared in person at recent multi-candidate forums in Iowa, but Trump has indicated he’ll speak at the Iowa G-O-P’s fundraiser in Des Moines on July 28th.

(Ticket holders were told the taping will start at 3:45 p.m. and they are to be in their seats well before then. No word on how many people will be in the arena.)

(Radio Iowa)  – One person was killed in Forest City at the annual summertime rally hosted by Winnebago Industries. The company’s director of communications Dan Sullivan confirms that on Sunday evening, an attendee of their annual Camp Winnebago Rally, formerly known as the Winnebago Grand National Rally, was fatally injured in an accident.

Sullivan says they are working with local authorities as the investigation into the incident continues. He says the company’s sympathy is with the family who is mourning the loss of a loved one and they are offering their support to them. Sullivan also says they have professional grief counselors available for those attending the rally.