Farmland Prices Increase Again

Via Big Picture Agriculture, USDA releases the latest farmland price report:

I really think we have to have hit the peak in land prices.  I would expect if some really prime land comes up for sale, we might see some high prices, but the days of $8000 an acre across the road from where I farm are probably already past.  I guess if we get a hell of a crop this year, guys can fantasize that we'll get $7.00 corn again and may bid things up.  But my guess is that the commodity boom is over, and this fall will be the start of a downtrend in grain prices, which will be fairly bad news for land prices.