Land Business Monthly - August 2022

PeoplesCompany.com BUSINESS MONTHLY LAND JULY 2022 + Green Acres to White Acres + Tenancy in Common: Keeping Your Ownership Interest Real + Challenges in the Valuation of Permanent Plantings

LAND BUSINESS MONTHLY | JUL 22 Green Acres to White Acres Tenancy in Common: Keeping Your Ownership Interest Real Peoples Company Managed Farm Showcased on June 18th Field Day Land Manager Earns Highest Professional Status Challenges in the Valuation of Permanent Plantings Land Investment Monthly July 2022 — New Listings Table of Contents 3 4 5 5 6 7 8 01.10.2023 iowa events center presented by PEOPLES COMPANY SAVE THE DATE REGISTER EARLY!

PeoplesCompany.com | 3 Green Acres to White Acres LAND MANAGEMENT Cotton, to some, is one of the most beautiful crops during the growing season and before harvest. Typically, cotton is considered a warm weather plant. It does not like having “wet feet” and prefers to grow in sandy or loamy soils. For reference, cotton requires about 50% of the water that it takes to irrigate corn. Unlike most crops, cotton is planted shallower (1/4” - 3/4”) compared to corn or soybeans, which are normally planted 1” - 2” deep. Depending on soil types and moisture availability, seed depth may vary slightly. Some farmers are known to plant cotton in beds for furrow irrigation if an inadequate supply of moisture is present. This will help address the water on or off the field, depending on where the water is directed. Cotton is considered a perennial plant but treated as an annual plant due to crop mixes and soil health for future crops. The typical date to plant cotton is anywhere from early April to early May. READ MORE + By Drew Cohn | Land Manager | Delta To learn about our land management services, please visit our website: PeoplesCompany.com.

LAND BUSINESS MONTHLY | JUL 22 Tenancy in Common: Keeping Your Ownership Interest Real There are various avenues for individuals to invest and co-own real estate. Generally, when multiple individuals are looking to purchase real estate, establishing a land-holding entity is a common approach. However, the membership interest in the entity is classified as a personal property interest and does not provide the co-owners the possibility of a Section 1031 exchange. Suppose the co-owners are making a Section 1031 exchange or are conscientious of future Section 1031 exchanges. In that case, the co-owners may decide to own an undivided interest in the real estate as tenants-in-common (commonly referred to as a “TIC”). The TIC structure provides certain advantages and disadvantages. This blog post will give a general overview of the TIC structure and is not for the purpose of providing legal advice. You should contact your attorney and accountant for advice regarding your specific situation. READ MORE + CAPITAL MARKETS

PeoplesCompany.com | 5 Land Manager Earns Highest Professional Status Peter Isaacson, AFM, AAC, has been awarded the Accredited Agricultural Consultant (AAC) designation from the American Society of Farm Managers and Rural Appraisers® (ASFMRA®). Isaacson earned the AAC designation by meeting stringent requirements in addition to passing a rigorous written examination and abiding by the American Society’s Code of Ethics. READ MORE + Peoples Company Managed Farm Showcased on June 18th Field Day Peoples Company is proud to support the efforts of landowners, operators, and local organizations bringing new conservation practices onto the working landscape. And whenever possible, we want to help highlight these efforts for others to learn from. On Saturday, June 18, a field day was held and open to the public on the Hunt Farm in Hardin County, Iowa. READ MORE +

LAND BUSINESS MONTHLY | JUL 22 Challenges in the Valuation of Permanent Plantings AGRICULTURAL APPRAISAL By Jeremy Darner | Managing Partner | Pacific West Permanent Plantings include long-lived tree or vine crops that typically have a lifespan greater than 10 years and can often have a lifespan of over 25 years. These include nut crops, tree fruit, vineyards, and some berries. The dynamic and varied factors that influence the valuation of permanent crops pose many unique challenges to valuation practitioners. Among others, these challenges include a fixed physical life, variable production, dynamic crop prices, inflationary pressures, and shifting consumer preferences. READ MORE + To learn more about our appraisal services, please visit our website: PeoplesCompany.com.

PeoplesCompany.com | 7 Land Investment Monthly LAND INVESTMENT Wallaces Farmer: Iowa Farmland Values Soar READ MORE + Hoosier Ag Today: How Rising Interest Rates Will Impact Farmers, Agriculture READ MORE + The Wall Street Journal: A Massive Maui Ranch Next Door to Oprah’s Property Asks $75 Million READ MORE + Des Moines Register: Iowa State University Report: Farmers Paying More for Fertilizer But Gouging Not Found READ MORE + NC State University: Invasive Insect That Kills Grapes Could Reach California Wine Region by 2027 READ MORE + Associated Press: California Lawmakers Mull Buying Out Farmers to Save Water READ MORE + Photo Credit: AP Photo/Rich Pedroncelli, File

LAND BUSINESS MONTHLY | JUL 22 New Listings LAND BROKERAGE & AUCTIONS 85.75 ACRES M/L WAYNE COUNTY, IA 650.68 ACRES M/L CLAY COUNTY, MN 79 ACRES M/L KEOKUK COUNTY, IA 241.80 ACRES M/L KOSSUTH COUNTY, IA 322.41 ACRES M/L PHELPS COUNTY, NE 34.65 ACRES M/L WAYNE COUNTY, IA 147.65 ACRES M/L STUTSMAN COUNTY, ND 461.87 ACRES M/L MONROE COUNTY, IL 207.50 ACRES M/L DECATUR COUNTY, IA

PeoplesCompany.com | 9 VIEW ALL AGRICULTURAL LISTINGS + 120 ACRES M/L APPANOOSE COUNTY, IA 160 ACRES M/L SCOTT COUNTY, IA 80 ACRES M/L WARREN COUNTY, IA 140.87 ACRES M/L MADISON COUNTY, IA 53.21 ACRES M/L OLMSTED COUNTY, MN 201.74 ACRES M/L GUTHRIE COUNTY, IA 74 ACRES M/L STORY COUNTY, IA 148.75 ACRES M/L WILKIN COUNTY, MN 465.95 ACRES M/L WASECA COUNTY, MN

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