I know a LOT about this and will tell you that the farmland values you see have nothing whatever to do with productivity or return, it is all about asset protection and a place to place money that is vulnerable to government confiscation. FEAR drives this. When you don't trust your government... farmland goes thru the roof. If a government were to come into power that is reliable and trustworthy... farmland values would drop like a rock. It did under Reagan. I owned land in 1979 under Carter that was valued at $3000 per acre. Within two years under Reagan it dropped to $800 per acre. It might again if we don't implode as a nation first. It's all about people's confidence and most of us have zero confidence in the current administration.

The Next Real Estate Bubble: Farmland — The American Magazine

www.american.com

Farmers have been taking on mounting debt, creating an unsustainable increase in land prices and risking a crash that would ripple through our economy.