November 2026 Midwest Farmland Market Update
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Harvest activity picked up across the Midwest in October, bringing strong soybean yields, mixed corn results and new questions about the direction of the farmland market heading into the final months of 2026.
In the November 2026 Midwest Farmland Market Update, Doug Hensley, President of Hertz Real Estate Services, shares what we're seeing across the Corn Belt, including harvest results, declining commodity prices and changing conditions in the farmland market.
Harvest Progress Accelerates Across the Midwest
After a September marked by persistent rainfall and significant harvest delays, October brought much more productive field conditions across the Midwest.
Despite soft field conditions following the heavy September rains, combines have been running steadily since early October. Soybean harvest is now nearly complete across much of the Midwest, while corn harvest continues to make progress.
Soybean yields have been particularly encouraging, meeting or exceeding pre-harvest expectations in many areas. Reports of 70 to 85 bushels per acre have been common, with some fields producing yields in the upper 80s and low 90s.
Corn yields, however, have been more variable depending on location.
In the eastern Corn Belt, excessive rainfall during June and August created challenging growing conditions. Many farms are reporting corn yields approximately 10% to 15% below last year's strong production levels. Yields of 210 to 240 bushels per acre have been common, compared to the 250-plus bushel whole-farm averages seen more frequently in 2025.
Farther west, particularly in Iowa and Nebraska, corn harvest has progressed more slowly due to September's wet conditions. However, early results suggest comparatively stronger yields, generally ranging from 225 to 275 bushels per acre, with some variation depending on individual field conditions.
Overall, soybean yields have been strong across the Midwest, while corn production appears somewhat better west of the Mississippi River than in the eastern Corn Belt.
Corn and Soybean Prices Retreat from Pre-Harvest Highs
While harvest results have generally been positive, grain markets have faced downward pressure over the past 30 to 45 days.
Two USDA reports showing increased old-crop grain stocks contributed to declining commodity prices, particularly for corn.
After reaching pre-harvest highs of approximately $5.00 to $5.50 per bushel, corn prices have fallen roughly $0.60 to $0.75 per bushel, with prices now trading around $4.50 to $4.75 per bushel.
Soybean prices have also declined approximately $0.75 per bushel from their pre-harvest highs but remain at or above $12.50 per bushel.
Strong buying from China, soybean meal demand and biofuel demand have provided additional support for soybean prices.
These changes in commodity markets are important factors to watch as farmers and farmland buyers evaluate profitability and investment decisions heading into 2027.
Farmland Market Remains Seller-Friendly, but Conditions Are Shifting
Despite recent declines in grain prices, the Midwest farmland market has remained relatively strong throughout 2026.
Based on the significant volume of pre-harvest farmland sales handled by Hertz Real Estate Services, we've seen indications that farmland values were moving modestly higher for the first time since 2023.
However, several factors are beginning to influence buyer sentiment.
Lower commodity prices, rising fuel and fertilizer costs, and higher interest rates are creating additional considerations for farmland buyers as the market transitions into the post-harvest selling season.
While the market remains favorable for sellers, conditions appear slightly less consistent than they were earlier this fall.
That doesn't mean the farmland market is weak. Rather, buyers may be approaching purchases with greater consideration of current commodity prices, input costs and financing conditions.
As always, farmland values vary significantly by location, land quality and local buyer demand.
Upcoming Farmland Sales Will Provide More Market Insight
November and December are traditionally active months for farmland sales as harvest wraps up and attention shifts toward planning for the next growing season.
The coming weeks should provide valuable insight into how buyers are responding to recent changes in commodity prices and broader economic conditions.
With strong overall crop production but increasing cost pressures, upcoming auctions and sealed bid sales will help establish a clearer picture of farmland values heading into 2027.
Our team at Hertz Real Estate Services will continue monitoring farmland sales throughout the Midwest to better understand how these market dynamics are affecting buyer competition and land values.
Watch the November 2026 Midwest Farmland Market Update
Hear Doug's full perspective on 2026 harvest results, grain markets and the outlook for Midwest farmland sales in the November 2026 Midwest Farmland Market Update below.
Questions About Your Farm or Local Farmland Market?
As the fall farmland selling season continues, we'll be watching how harvest results, commodity prices, interest rates and buyer demand influence farmland values across the Midwest.
If you have questions about farmland values, selling a farm or what's happening in your local land market, contact the team at Hertz Farm Management and Hertz Real Estate Services. We're happy to discuss your property and the market conditions in your area.
Doug Hensley is President of Hertz Real Estate Services. Check back each month for the latest Midwest Farmland Market Update.
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