There is no such thing anymore as sticker shock in the farmland market. In the last year, Corn Belt prices jumped nearly 19%. The northern Plains saw an increase of 30%—with Nebraska cropland values showing an amazing 35.8% increase over 2011 levels.
What’s really behind these increases, and can the trend be sustained? Such questions fuel the uncertainty that’s ruled the land market since summer.
Keith Carlson, president of United Farm and Ranch Management, in Lincoln, Neb., says demand for farmland in the state remains high, but focus is now on irrigated acreage.
“Under irrigated farming in Nebraska, I think ...