January 2024

I hope everyone had a great Christmas and will enjoy good health and times with family during 2024. My grandsons came up to help me celebrate my birthday and Christmas, one is eighteen and the other fifteen. As young adults, they greatly appreciate a cash gift, rather than something they probably would not choose. Works for me. I do miss, a while back, their excitement unwrapping gifts and receiving just what they asked for from Santa. But time moves on so quickly.

Land Pro LLC had a good 2023 regarding real estate sales and farm management, but for now, 2021 and 2022 may go down in the record books as the best net income producing years with commodity prices and land sale prices reaching all-time highs.

Business’ go through cycles, but it seems agricultural cycles may be shorter in duration than in the past because of a faster paced global geopolitical environment, fluctuating weather patterns, and advanced technology. It is possible that 2024 may more likely reflect the 2017-2018 agricultural economic cycle.

During 2023, corn prices were down 31%, wheat prices down 21%, and soybean prices down 15%. Fortunately, input prices have moderated and for the most part are down to more acceptable levels for the 2024 crop year. Cash rents, however, did go up again for the 2024 crop year, possibly causing some very thin profit margins for the farm operator. I am sure, to the point of ad nauseum, that you may have read many times in one of my newsletters, the impact of weather conditions in Brazil that have so much to do with export markets for our soybeans and corn that ultimately affects our market prices. I will also add, at this time, the Corn Belt has yet to receive appreciable moisture for the 2024 crop, but there is plenty of time for that to change.

2024 has started with sinking soybean prices. Eric Snodgrass, Science Fellow and Principal Atmospheric Scientist with Nutrien Ag Solutions, states the main reason for bearish price pressure is news of rain returning to the growing areas of South America that have been impacted by severe drought. Eric is quoted as saying that at this point in the season, rain could do more harm than good, even impacting the planting of the safrinah corn crop. He also states that this weather system is a sudden switch from the drought that plagued a vital soybean production growing region at the end of 2023. Snodgrass says forecasts point to as much as 8-10 inches of rain in a span of two weeks which has been needed but could be harmful.

My take from this is that the Chicago Board of Trade futures commodity prices will react negatively to what appears to be bearish news and will not react bullishly until actual weather conditions have notably caused significant yield reduction. Stay tuned.

In our real estate brokerage business, we are often asked if Land Pro LLC works with Chinese investors and sometimes a potential seller informs us that they do not want their farm sold to a Chinese entity. There are legitimate concerns about foreign ownership of land in the United States, particularly by China, Iran, North Korea, and Russia. Some members of Congress are looking very closely at the PASS Act of 2023, which in essence would prevent investments (land in particular) if it was determined that such a foreign investment presents a threat to the United States national security.

Currently, Canadian investors own the largest amount of reported foreign held agricultural and non-agricultural land in the United States with 32% or 14.2 million acres. This is mostly timber in the timber growing regions of the United States. An additional four countries, the Netherlands, Italy, the United Kingdom, and Germany collectively own 29%, or 13.0 million acres of the foreign held acres in the United States. China reportedly owns 384,000 acres in connection with vertically integrated meat processing plants such as Smithfield Foods and others in North Carolina, Missouri, Texas, Utah, and Virginia. To put things in prospective, there are approximately 1.3 billion acres of farmland in the United States.

An election year can literally turn everything upside down regarding the general economy. The United States general elections are scheduled for November 5, 2024, and who really knows what to expect from the politicians seeking your vote. When time permits, I watch a fair amount of linear TV (traditional broadcast TV) and soon the advertisements will begin with lots of mudslinging and promises. Thank goodness for ad-free streaming.

In addition to the United States Presidential election, all 435 seats in the House of Representatives and 34 of the 100 seats in the Senate will be contested for the 2024 election. No matter the election outcome, I wish that all elected officials, regardless of party affiliations, would strive to work together for a common cause that betters this great country, the United States of America.

~ Ray

Ray L. Brownfield, ALC AFM

Designated Managing Broker | Owner

Accredited Land Consultant

Accredited Farm Manager

Foley Trust Farm

Two Morton Buildings | Airplane Hangar

The Foley Trust Farm is a unique 135± acre farm in Bureau County, Illinois that features two nice Morton buildings and an airplane hangar along with 130± tillable acres in Section 16 of Selby Township and has a PI of 130.3 (Birkbeck, Catlin, Muscatune, Radford predominant soils). The property also contains an FAA registered lighted one-half mile airstrip that runs East to West.

Great location just 5.5 miles East of the I-180 and US Hwy 6 interchange near Princeton, 5.9 miles Northwest of DePue, 7.3 miles East of Princeton, 29.0 miles West of Ottawa, 54.9 miles North of Peoria, 82.3 miles Southwest of Rockford, 106.0 miles Southwest of Chicago. GPS 41.37729, -89.34928

To find out if the Foley Trust Farm is the farm for you, contact:

Chip Johnston

Designated Seller’s Agent

Licensed IL Real Estate Managing Broker

Cortland Farm

Class A Soils

Future Residential Development

Annexed to Cortland, Illinois 

Platted for Subdivision

The Cortland Farm is located in Section 17 of Cortland Township and contains 56.64± surveyed acres (53.69± tillable acres). The soils have a PI of 138.2 and are comprised mostly of Danabrook and Elpaso.

The 2022 real estate taxes were $2,988.90 ($52.77/ac), there are no buildings, the property is multi-zoned, is annexed to Cortland, Illinois, and is adjacent to DeKalb, Illinois.

Dave Oster

Designated Seller's Agent

Licensed IL Real Estate Managing Broker

Deer Creek Estates

Future Residential Development

Platted for Subdivision 

Deer Creek Estates is a good-quality 47-acre Will County property that is located just west of US Hwy 53 and south of River Road in Wilmington, Illinois, adjacent to United States Cold Storage. The farm is annexed into the city of Wilmington and is preliminary platted for residential homes and residential townhouses. Sewer and water are on site.

The property is situated near distribution and transportation hubs only 5 miles from the CenterPoint Intermodal facility, 3 miles east of Interstate 55, and 17 miles west of Interstate 57.

Deer Creek Estates is ready to be developed with the ability to attract an array of buyers with both single and multi-family options. 



Jason Lestina ALC AFM

Designated Seller's Agent

Licensed IL Real Estate Managing Broker

Licensed IN Real Estate Managing Broker

Accredited Land Consultant

Accredited Farm Manager

Victor Farm

Class A Soils

The Victor Farm is a Class A soil farm. The 64.3503 surveyed acres (63.48 FSA acres) have a PI of 135.9 and are in Section 12 of Victor Township in DeKalb County, Illinois. The 2022 taxes are $3,775.48 ($58.67/acre), there are no buildings, and is zoned agriculture. There is frontage along Orchard Road, which forms the North boundary of the farm.

The Victor Farm is located 7.1 miles Northwest of Somonauk, 30.0 miles Southeast of the I-39/I-88 at Rochelle interchange, 59.1 miles Southeast of Rockford, 63.5 miles West of Chicago, 103.0 miles Northeast of Bloomington, 106.0 miles Northeast of Moline, 168.0 miles Northeast of Springfield. GPS 41.695936, 88.714508

Ray L. Brownfield, ALC AFM

Designated Managing Broker | Owner

Accredited Land Consultant

Accredited Farm Manager

Kaneland Farm

Class A Soils

One Building Permit Allowed per PIN

The Kaneland Farm is situated along Meredith Road and has residential development potential. The property is split into three Property Index Numbers (PIN), each containing over 15.00 acres which allows for one single-family home to be built. Its location is just west of Kaneland High School and is near the Elburn, Illinois commuter rail station. The 50.217 surveyed acre Kaneland Farm has Class A soils, a Productivity Index of 138.8, and is nearly all tillable. The 2022 taxes are $3,132.38 ($59.86/acre) and there are no buildings. The farm lease is open for 2024.

The Kaneland Farm is located 4.3 miles Northwest of Kaneville, 54.1 miles Southeast of Rockford, 54.4 miles West of Chicago, 115.0 miles Northeast of Bloomington, 116.0 miles Northeast of Moline, 184.0 miles Northeast of Springfield. GPS 41.886203, -88.537168

Ray L. Brownfield, ALC AFM

Designated Managing Broker | Owner

Accredited Land Consultant

Accredited Farm Manager

Hudson Lakes

Ready for Development!

Hudson Lakes is platted for a subdivision and is annexed to Yorkville, Illinois. The property is in Section 10 of Kendall Township and contains 141.29± surveyed acres (139.93± tillable acres). The soils have a PI of 124.0 and are comprised mostly of Saybrook, Larose, and Elpaso. The 2021 real estate taxes were $5,828.56 ($41.25/ac), zoning is A-1 (agriculture), there are no buildings, and access is from Penman Road.

The Hudson Lakes property is located 12.6 miles West of Plainfield, 48.5 miles Southwest of Chicago, 77.9 miles Southeast of Rockford, 96.2 miles Northeast of Bloomington, 125.0 miles Northeast of Moline, 163.0 miles Northeast of Springfield. 41.615703, -88.417353

Dave Oster

Designated Seller's Agent

Licensed IL Real Estate Managing Broker

Ashley Point

Future Development Potential

Annexed to Yorkville, Illinois

Ashley Point is situated in Southeastern Yorkville, Illinois with frontage along Ashley Road. Yorkville Middle School, Yorkville Christian High School, and the Raintree Village Subdivision are neighbors to the North and Northwest, creating future development potential for this property. The 70.00± acre Ashley Point Ashley Point property has high Class B/Low Class A soils, with a Productivity Index of 132.6. The 2022 taxes are $3,346.48 ($47.80/acre), and there are no buildings.

Ashley Point is located 30.0 miles Northeast of Rockford, 48.2 miles Southwest of Chicago, 76.3 miles Southwest of Rockford, 94.6 miles Northeast of Bloomington, 123.0 miles East of Moline. GPS 41.61063, -88.40752

Dave Oster

Designated Seller's Agent

Licensed IL Real Estate Managing Broker

closed on December 28, 2023

Tract 1 | $11,200 per acre

Tract 2 | $8,500 per acre

Tract 3 | $11,200 per acre

closed on December 15, 2023 | $15,000 per acre

closed on December 15, 2023 | $12,500 per acre

McHenry County, Illinois

82.75 tax acres (80.30 tillable acres) | PI 137.0 | home + buildings

Professional Land Specialists

Ray L. Brownfield, ALC AFM | Designated Managing Broker

Land Pro LLC | 2681 US Hwy 34 | Oswego IL 60543 | 331.999.3490