Farmland prices continue to soar, producing fields of new multimillionaire farmers in agriculture
pockets
across the country, Forbes reports. Well, hold on to your straw hats,
because one of the most interesting investments to catch their fancy
recently is farmland. Iowa is particularly seeing strong price gains.
For example, a survey this spring of local farmland brokers in Iowa put
the average price for the highest quality farmland there at $11,674 per
acre and for midgrade land at $8,300 per acre, according to a survey.
The prices have fallen 5 percent from a year earlier but are still up
well over historical standards, Forbes.com notes. As comparison, in the
1990s, midgrade farmland fetched less than $1,700 per acre. See more: Investors are still fetching high returns with farmland.
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