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Farmland prices show strength in $5.97 million Schrader auction

Farmland prices continued to show strength Monday as Schrader Real Estate & Auction Company auctioned approximately 850 acres for $5.97 million in Sarpy County, near Omaha.

The tillable land brought prices ranging from $3,553 to $14,711 per acre, with the lower and higher ends reflecting flood and development potential, according to R.D. Schrader, president of the company.

"The location -- with some land along the Missouri River and some served by water and sewer -- resulted in a wide variation in prices per acre. But the demand was strong across the board, reflecting the continued strength in prices of agricultural land. On the 380 acres that were comparable to similar tillable land in Nebraska, the price was almost $5,800 per acre, which is extraordinary by historical standards," said Schrader.

Most of the tillable land included in the sale is currently used for soybeans and corn.

Strong Asian demand for American soybeans, corn and other crops has helped feed strong commodity prices, and that has translated into increased demand for farmland, according to Schrader. "We hadn't had a lot of opportunities to auction tillable Nebraska land in the current environment, so we were glad to see a favorable market response to our proprietary method of selling farmland in tracts and encouraging bids on various combinations of tracts."

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