Stay Informed with Brett Meyers’ March Land Market Update


Land prices have been on a tear! With 2022 in the books, the beginning of 2023 is looking stronger farmland value wise and our sales at AcrePro show it. AcrePro has sold the following land by auction in the last 6 months: Fairmount, Richland County, ND October 18th, 2022 $9,050/Deeded acre. Grafton, Walsh County, ND Dec 20th, 2022 81 acres $6,100/ deeded acre. Warrenton Township, Marshall County, MN Nov 18th, 2022 40 acres $5,050/ deeded acre. Grafton, Walsh County, ND Dec 20th, 2022 65 acres $5,700/deeded acre. Campbell, Wilikin County, MN Dec 2nd, 2022 240 acres $8,650/deeded acre. Glasston, Pembina County, ND Jan 11th, 2023 148 acres $9,650/deeded acre.


3 years of high grain prices historically signals that it is time for a downturn. We are currently in year three. Here are some major factors to watch that I believe will decide the future of grain prices and land prices.

  • Russia/Ukraine War- What will the outcome be? How long will it last?
  • Droughts around the world. •South American crop right around the corner this month.
  • Strong Dollar- Our grain is more expensive to other countries because off our strong dollar.
  • Goal of Deflation- Fed is trying to keep commodity prices down creating deflation and cause food prices to fall.
  • US Economy- Will the rise in interest rates cause a US recession? A soft landing or hard landing for the economy? In 2008 when the stock market collapsed because of the housing bubble, it took the grain market with it that fall. I remember $7 corn during the summer of 2008 and $2 corn in the fall of 2008. All within a few months!


The Fed is currently draining money out of the financial system like a vacuum buy selling bonds they had bought and accumulated throughout the past decade. This pulls money out of circulation causing interest rates to rise. Money works as lubrication to make the gears of our economy turn without ceasing up. How much lubrication do we need before the gears seize up? Could the gears seize up like in 2008 or the very start of the pandemic? That is the question with a reduced supply of money.

Brett Meyers 
Land Broker
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