October 2026 Midwest Farmland Market Update

Wet weather has put harvest on hold across much of the Midwest, but the farmland market has remained active heading into fall.

In the October 2026 Midwest Farmland Market Update, Doug Hensley, President of Hertz Real Estate Services, shares what we're seeing across the Corn Belt, including delayed harvest activity, relatively steady commodity markets and encouraging signs in recent farmland sales.

Wet Weather Delays the Start of Harvest

Going into October, we expected to have some early harvest results to discuss. Instead, persistent rainfall has kept many combines out of the fields across the northern and western Corn Belt.

A wet weather pattern that began around Labor Day continued throughout September, with Iowa near the center of the heaviest rainfall. Some areas have received 12 to 15 inches of rain since the beginning of September.

As a result, very little harvest activity has taken place in many areas.

When conditions allow farmers to get back into the fields, they are likely to face softer conditions than in recent years. Harvest 2026 is shaping up to look considerably different from the quick, dry harvest seasons we've experienced the past couple of years.

Corn and Soybean Markets Remain Relatively Steady

Despite plenty of daily movement, grain markets have largely traded sideways over the past month.

War, tariffs, international trade, oil and fuel prices, and expectations surrounding the size of the U.S. crop continue to compete for the market's attention. While those factors have created day-to-day volatility, they have not significantly changed the broader commodity market trajectory.

The current commodity environment, combined with the delayed harvest, has provided a supportive backdrop for farmland sales.

Farmland Sales Show Signs of Increased Competition

September was a busy month for Hertz Real Estate Services. Our team sold 43 farms through public auctions and sealed bid sales during the month.

While results naturally vary from farm to farm and market to market, we've seen sparks of buyer competition that haven't been as common over the past couple of years.

One notable example came in west-central Illinois, where a 112-acre tract of farmland in a very rural area sold at auction for $20,500 per acre. We've also seen numerous other sales reach or exceed $15,000 per acre.

Overall, the farmland market has a different feel as we move into fall—and so far, that change has been largely positive.

Farmland Supply Will Be Important to Watch

One factor we'll continue monitoring closely is the volume of farmland coming to market.

Farmland values are highly local, and an unusually large concentration of farms for sale in one area could potentially overwhelm available buyer demand. So far, we haven't seen that become a significant issue, but sale volume from neighborhood to neighborhood will be important to watch as the fall selling season progresses.

Our team will continue monitoring these trends as we handle additional farmland sales and counsel landowners considering the possibilities for their property.

Watch the October 2026 Midwest Farmland Market Update

Hear Doug's full perspective on harvest conditions, commodity markets and farmland sales in the October 2026 Midwest Farmland Market Update below.

Questions About Your Farm or Local Farmland Market?

As harvest progresses and more farmland sales take place, we'll continue watching how local supply, buyer demand, commodity prices and harvest results affect farmland markets throughout 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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