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S. Illinois farmland auction

Even with lower commodity prices, a farmland auction in Southern Illinois on Monday, August 25 attracted 45 bidders.

The 765 acres in Franklin County sold for $4,195,000.

“We had a classic competition between investors and local farmers, and a large investor was in the competition right up to the end, but it was the farmers who ended up as the high bidders,” said Joe Bubon, executive vice president of the auction company, Murray Wise Associates LLC.

Four farmers purchased the 13 tracts for $5,483 per acre, outbidding a large investor.

Bubon said the turnout in Benton is cause for optimism in upcoming farmland auctions.