Moore & Warner Farm Management
Spring Newsletter

Crop Progress
In the regions of Illinois, Iowa and Kansas where we manage farms, winter has come to an end. In general, winter conditions across the grain belt were mild with sufficient moisture for good spring planting. Temperatures have been moderate with generally warm and sunny days.

Consequently, Illinois farmers are well into spring crop planting. A large percentage of farms under our management already have corn and soybeans in the ground and in many cases the young plants have already emerged.

In north central Iowa, conditions match those in Illinois and planting is proceeding at a rate similar to Illinois.

In southwest Kansas the winter wheat crop is in excellent condition and promise high yields at harvest. Mother Nature has favored the region with timely snow fall and rain throughout the dormant season and now the crop has "greened up" and resumed growth.

In short, the 2010 Midwestern grain crops are off to a very strong start!

Grain Prices
Grain prices continue to be affected by our national and international economic climate - as well as politics form Washington. In light of our early planting start and fast progress, grain markets remain surprisingly strong. However, commodity prices are very vulnerable to day-to-day news reports and so there is great volatility in the market.

Land Values
Illinois land prices are strong and remain steady. In February, on the west of our very own DeWitt County, Illinois, 167 acres of moderate quality land in moderate condition was sold for $5,525.00 per acre. Recent sales of quality land in nearby surrounding counties have shown sale prices ranging from $6,500.00 - $7,200.00 per acre.

As a general rule north central Iowa land prices have historically been somewhat lower per acre than comparable Illinois farms due to the cost of transportation to get the crop to market. The recent construction of ethanol plants in the area has changed that. A recent sale of quality farm land near Clarion, Iowa generated a sale at $7,200.00 acre - evidence perhaps that good quality land, given a level playing field, commands a similar price regardless of location.

Kansas land values are also strong. "Dry" land (non-irrigated) is selling at prices ranging from $800.00 - $1,100.00 per acre. The value of irrigated land is more open to question. The depletion of the Ogallala watershed clouds the future of irrigated farming in the region and land values reflect the uncertainty.

If you are interested in learning more about Moore & Warner Farm Management please contact us at:

Moore & Warner Farm Management
121 S. Center Street
P. O. Box 453
Clinton, IL 61727
217-935-9799
kbangert@moore-warner.com

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