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Farm real estate sales consistent in 2020

Farm real estate sales consistent in 2020

Low interest rates were one factor that kept business moving this year

 
Staff Writer
Farms.com

While many things changed in the farm real estate industry in how business was conducted this year due to COVID-19 restrictions, prices and property sold continued to move forward in normal fashion.

“It was a very positive year actually for buyers and sellers,” said Sheldon Froese. He is a realtor with Royal LePage Riverbend Realty Farm Division based in Steinbach, Man.

Froese is a relator in Saskatchewan and Manitoba and saw some increase in demand for dairy farms in Manitoba and an increase in prices for in demand land.

“There were still some pieces that sold what we would consider fairly high and that's from pressure from two or three different buyers,” driving up the price, he told Farms.com.

Low interest rates were another factor in keeping business moving, said Froese.

“Interest rates are very low and continue to be that way. So, that definitely triggered some people to buy maybe smaller pieces because (they) see a good opportunity to buy it at a pretty cheap rate,” he said.

Staff at Royal LePage Riverbend Realty Farm Division also kept sales moving by adapting to communication challenges and will continue to do so into 2021.

“Some clients were very comfortable with us being in person, social distancing and (wearing) masks, but a lot of clients just prefer to do Zoom calls. It was a different world… But in the end, there's always a way to make things work,” said Froese.

Allexxandar/iStock/Getty Images Plus photo


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US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops

Video: US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops


A dry August and a “flash drought” in the ECB (Eastern Corn Belt) the driest top 10 to 15 years in 150 to 160 years (Ohio the driest in 133 years) plus disease is taking a bite out of the 2025 U.S. corn and soybean crops.
It's going to be an early harvest. This could be the start of the 89-year drought cycle that may have been delayed until 2026 as La Nina maybe returning.
The USDA September crop report is all about record corn ears and record soybean counts but the October USDA crop report will be about pod and ear weights.
Stats Canada reported higher forecasts for the 2025 Canadian Prairies all wheat and canola crops vs. last year based on satellite imagery but are they overestimating production?
The 2025 Great ON Yield Tour and Quebec crop tours are projecting corn and soybean crops below the 10-year average.
China's Vice Commerce Ministry Li Chenggang visits Washington this week as we continue to connect the dots is a positive sign towards a China/U.S. trade deal. But will U.S. farmers have a winter without China as they buy more soybeans from Uruguay/Argentina? U.S. Northern Plain soybean farmers are seeing red with flat prices at $8.97/bu!
U.S. corn exports on record pace up 99% vs. last year.
Fund short covering continues in corn futures bottom is in!