Saturday, March 5, 2011

Rolfe Land Brings $6775/Acre

Fifty people gathered at the Rolfe Community Center this morning for the auction of 120 acres of farmland a mile north of town. It was last on the market in 1966 when it was purchased by Jim and Esther Wilson. The high bidder today was a local dairyman, Dean Duitscher, who bid $6775/acre. The runner-up bidder was also an area farmer.

The land has no buildings. It is on Hwy 15. It is rolling and has at least one terrace. The corn suitability rating (CSR) is 69.7 on the 115.3 net acres. The gross price divided by the net acres and the CSR produces a value of $101/CSR point. The current tenant has a lease that extends through this summer.

More details about the property were still available on the auctioneer's website immediately after the sale.

Yesterday the local price of corn was $6.82/bushel. Soybeans were selling for $13.47/bushel.

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