Ethanol demand fuels 10 percent price jump for farmland

Land values hit record highs, ISU survey says

Ames, Ia.

The average price of an acre of Iowa farmland increased $290, a 10 percent increase from last year. For the first time since 1941, when Iowa State began the survey, the average price of an acre of Iowa farmland topped $3,000.

“We’ve seen a tremendous spike in corn and soybean prices in the last six weeks, and that has been translated into land prices,” said Duffy, who has compiled land survey results since 1986. “I can’t remember when it jumped so fast.”

Des Moines Register