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Old 03-04-2011, 08:46 PM   #1
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corn In Price of Farmland, Echoes of Another Boom

In Price of Farmland, Echoes of Another Boom

By WILLIAM NEUMAN
March 3, 2011

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The surge in prices has been dizzying throughout the Midwest, with double-digit percentage increases last year in Illinois, Indiana, Iowa, Kansas, Minnesota and Nebraska. In parts of Iowa, prices for good farmland rose as much as 23 percent last year, according to the Federal Reserve Bank of Chicago.
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Just a few years ago, farmers marveled as land prices began to rise in response to demand for corn to make ethanol. More recently, soaring prices for wheat, corn, soybeans and other crops have driven the increase.

Prices have risen so far so fast that “it’s getting scary,” said Mike Green, a real estate auctioneer. He brought the hammer down last Friday on a 118-acre farm in Yetter, Iowa, that sold for $11,000 an acre, which he said was a record for farmland in Calhoun County, in western Iowa.
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Old 03-04-2011, 09:07 PM   #2
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Land price increases make it even harder for conservation/preservation groups to fund land purchases, although from this article it looks like the inflation is in productive farmland.
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Old 03-05-2011, 06:41 AM   #3
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Originally Posted by benj1 View Post
Land price increases make it even harder for conservation/preservation groups to fund land purchases
It also makes it very hard for anyone not already on a family farm to get started farming...
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acre, agriculture, boom, corn, cost, demand, disturbing, echoes, ethanol, farming, farmland, farms, increase, increases, iowa, land, land prices, midwest, price, price of land, prices, scary, soybeans, wheat

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