Auction of Neb. farmland could attract high prices

Nearly 2,000 acres of Nebraska farmland will be auctioned Thursday, high prices expected

Associated Press

HASTINGS, Neb. (AP) -- Auction officials expect prices to top $10,000 per acre for some of the 1,855 acres of central Nebraska farmland being sold Thursday.

The irrigated land in three locations southwest of Hastings is likely to attract such high prices because it isn't often that this much prime land goes on sale at once.

R.D. Schrader with the auction company says the farmland includes good water sources and excellent soil.

Farmland values have been booming in Nebraska in recent years because strong corn and soybean prices helped farmers generate significant farm income.

Earlier this year, a 160-acre farm in Clay County in southern Nebraska has sold for $12,000 an acre.

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