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Farmland Prices On The Rise

Farmland

Photo: Dan Goldblatt/WFIU News

Despite the high prices, many farmers say they plan to acquire even more land in the near future.

A Purdue University study suggests many farmland investors plan to continue buying despite recent price increases. The report says Indiana farmland values jumped by nearly 23-percent from 2010 to 2011.

74-percent said they planned to buy additional land in the next five years. Nearly 250 farmers, farmland investors, agricultural lenders and agribusinesses responded to the survey, conducted in late February.

Nearly half of the respondents said their operation was primarily in Indiana, with most of the remaining respondents owning farmland in surrounding Corn Belt states. Their median farmland ownership was 500 acres.

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