Iowa Land Value Survey reports 22 percent jump in farm prices in 2007 as ethanol fuels land boom

Dr. Michael Duffy, an Iowa State University farm economist, released the 2007 Iowa Land Value Survey, which showed that acre of farmland prices have jumped more than 22 percent to a record high of $3,908 per acre.  Duffy said the increase was the highest one-year jump since 1976. Prices were $1,857 as recently as 2000. Duffy attributes the change to the impact of ethanol.

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