US farmland prices soaring

Ethanol Is Feeding Hot Market for Farmland

DEKALB, Ill. — While much of the nation worries about a slumping real estate market, people in Midwestern farm country are experiencing exactly the opposite. Take, for instance, the farm here — nearly 80 acres of corn and soybeans off a gravel road in a universe of corn and soybeans — that sold for $10,000 an acre at auction this spring, a price that astonished even the auctioneer.

 

Rest of story at http://www.nytimes.com/2007/08/08/us/08farmers.html?_r=1&oref=slogin&pagewanted=print