Several indicators point to weakening farmland values.

Jim Rothermich with Iowa Appraisal tells Brownfield he tracks every land auction in the state and says there were at least nine no-sales in February.

“That is a drastic increase. A year ago, February 2023, we had two. So that’s how big a difference there is right now.”

A no-sale occurs when the property isn’t sold because a reserve price has not been met.

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