Quoting IOWA farmland prices is akin to a teenager getting quotes on a ferrari for his first car. There are opportunities out there, but you will get reamed buying Iowa/Minnesota land right now. There are 50 states and there is farmland for sale in all of them. Right now, i know of raw ag land for sale in my area. It would sell for 1500 to 2000 per acre and i myself would lease it from the owner for 50 to 70 per acre, and pay the annual property tax. Much like a dividend paying stock you earn a 3% return in this example yearly, while sitting on the land to appreciate in value. in many cases the MINERAL RIGHTS are included in these sales. which is like an embedded long-dated call option on the energy sector. Corn itself is an energy play due to the RFS (renewable fuel standard mandate) in this country. In this weeks edition of Bloomberg Businessweek, turn to page 100. Jeremy Grantham states"The only investable idea i have real confidence in is farming and forestry". READ what Warren Buffett thinks about farmland as an investment. He'd rather own it than gold. Why? Because it spins off cash flow while you hold it! Read what Jimmy Rogers says about farmland. ITS REAL. YOU CAN STAND ON IT. ITS TANGIBLE, not a ledger entry on a brokerage account that an FCM can run off with. It puts you instantly long the commodity sector. Its open for development if close to a city. And its passive. You don't have to bust your rear managing it. Rent check comes in once per year., Tenant takes care of the land. Common practices out here in my neck of the woods. A lot of wealthy midwesterners, are....landowners. AND THE STATEMENT THAT MOST OF THE SMALL GUYS CASHED OUT IS ABSURD. MOST SMALL FARMERS ARE ACTUALLY LOOKING TO GROW. MANY GOOD MANAGERS OUT HERE WITH SMALL FARMS THAT ARE LOOKING TO LEASE and/or BUY LAND. MANY ENERGY COMPANIES LOOKING TO LEASE THE MINERAL RIGHTS. Land is an EXCELLENT long term investment and works well as an inflation hedge in my experience. PM me if you're seriously interested in how things work out here in the sticks. you might be surprised at the opportunities!