Pifer’s Land Management

09/04/2026

Cash rent discussions.
Small adjustments supported by changing evidence are often easier to explain than large adjustments caused by years of avoiding the conversation.

07/17/2026

Wild-smoke out there! Stay safe!!

07/14/2026

If you’re attending Wisconsin Farm Technology Days, stop by and visit the team from Pifer’s Auction & Realty. Whether you’re interested in farmland sales, land management, hunting properties, investment opportunities, or simply discussing the agricultural land market, we’d enjoy the opportunity to connect.

07/12/2026

Interesting concept! Great read!

I am reading a book by Matthew Syed’s, Black Box Thinking, which highlights a powerful concept: organizations improve when they are willing to examine mistakes instead of defending them.

In agriculture, we are not immune to cognitive dissonance—the mental discomfort that occurs when facts challenge our existing beliefs.

As an industry, we pride ourselves on innovation and data-driven decisions. Yet sometimes we find ourselves explaining away results that don’t fit our assumptions.

A field yields 20 bushels less than expected, and weather gets all the blame. A nutrient program underperforms, but we continue with the same approach because it has always been done that way. A drainage issue is obvious, yet it remains unaddressed because the investment feels uncomfortable. A tenant, advisor, or landowner may recognize a problem, but nobody wants to be the first to challenge the status quo.

The most productive farms I work with are not necessarily the ones that make the fewest mistakes. They are the ones that are willing to identify mistakes, measure them, learn from them, and adapt.

Aviation transformed safety by investigating every accident through a “black box” mentality. Agriculture has the same opportunity. Every yield map, soil test, tissue sample, financial statement, and field observation is a form of black box data waiting to teach us something.

The question is not whether mistakes occur. The question is whether we are willing to learn from them.

In a time of tight margins, rising input costs, and increasing land values, continuous improvement may depend less on finding new answers and more on being willing to challenge old assumptions.

The best decisions are rarely driven by ego. They are driven by evidence.

07/11/2026

One small pump can make a big difference.

This week in Minnesota, I inspected a field where a 4-inch lift pump was being used to remove excess water from the end of a field and discharge it into a nearby drainage ditch. While simple in design, this type of water management can have a significant impact on crop performance and profitability.

Excess water creates a chain reaction of agronomic challenges. When soils remain saturated, pore spaces fill with water instead of oxygen. Corn roots require oxygen for respiration, nutrient uptake, and growth. Research has shown that oxygen deprivation can reduce root development within days, limiting the plant’s ability to access nutrients and moisture later in the season.

Standing water also contributes to:

• Reduced root mass and root depth
• Nitrogen loss through denitrification and leaching
• Increased risk of root diseases
• Delayed crop development and uneven emergence
• Lower plant populations in drowned-out areas
• Reduced field trafficability and management efficiency

Removing excess water restores oxygen to the root zone and allows soil biological activity to resume. Healthy soil microbes are critical for nutrient cycling and overall soil function. Even after a rainfall event, getting water off the field quickly can shorten the period of stress and preserve yield potential.

From an economic standpoint, drainage is often one of the highest-return investments in agriculture. A single drowned-out acre in a 200-bushel corn field can represent hundreds of dollars in lost revenue. Beyond the immediate yield impact, improved drainage increases consistency across the field, reduces replant risk, improves nutrient efficiency, and supports higher long-term land productivity.

As land managers, our role is not simply collecting rent or overseeing operations. It is identifying opportunities that protect both the productivity of the soil and the profitability of the asset. Sometimes that means evaluating major drainage projects, and sometimes it means finding practical solutions—like a small 4-inch lift pump—to keep a crop growing when conditions become challenging.

Water is essential for crop production, but managing excess water is equally important.

07/08/2026

When it rains, it pours! Love it when systems work for the crop! Proper maintenance and management is essential in the success of every crop!

07/07/2026

Sunflowers are just getting started! Beautiful views are on deck in a couple weeks!

07/06/2026

Beautiful day to be looking at crops! Life as a land manager takes you across multiple states and pretty much every crop grown. I love the diversity!!

03/05/2026

Wisconsin Maple Producers are flowing! Check out the update here 👇

01/31/2026

Pick which one 👇👇 comment on which one you would pick!

Owning Farmland vs Gold/Silver

When evaluating farmland strictly from a balance sheet perspective, the numbers tell a disciplined story. A 160-acre tract purchased at $10,000 per acre represents a $1.6 million acquisition. At $275 per acre in annual cash rent, that ground generates $44,000 per year in gross income. Over 20 years, that equates to $880,000 in collected rent before appreciation. Historically, quality Midwest row-crop ground has also appreciated over multi-decade horizons. Even at a conservative 3% annual appreciation rate, $10,000 per acre land grows to roughly $18,000 per acre in 20 years — placing the asset value near $2.9 million. That combines income generation with long-term capital growth, backed by a hard asset tied to food production.

Contrast that with gold and silver equities over the last 20 years. Physical gold has appreciated significantly during inflationary cycles, and silver has experienced strong volatility spikes, but neither provides recurring income unless structured through dividend-paying mining companies. The ride has included sharp drawdowns and sentiment-driven swings. Mining stocks in particular introduce operational risk, geopolitical exposure, and dilution risk. While metals can serve as a hedge during currency weakness or financial stress, they historically move in cycles rather than providing steady cash yield. An investor relying solely on capital appreciation in metals must time entry and exit effectively to outperform.

From a stability standpoint, productive farmland tends to behave differently than commodities or mining stocks. It generates annual income, provides inflation protection through rent adjustments, and historically maintains value through economic cycles because it produces a necessity — food and fiber. Metals can outperform during crisis-driven rallies, but farmland often wins in consistency and compounding when both income and appreciation are considered together. Over a 20-year horizon, the farmland example produces strong cumulative return with lower volatility and tangible collateral value — a balance sheet asset that works every season.