|
SC MN | In 1968 farmland in South Central MN (Waseca County) farmland sold for approximately $400 per acre; average corn price was $1.07 per bushel. It took about 375 bushels of corn to purchase one acre.
By 1981 the price rose to $3,150 per acre; average corn price was $2.41 per bushel. It took 1,300 bushels of corn to buy an acre.
Fast forward to today:
Recent farmland sales in South Central MN have averaged $8,000 per acre; corn price is about $3.00 per bushel. It takes more tan 2,600 bushels of corn to buy one acre.
In the late 1970's and early 1980's it was common to hear people say they weren't worried about high land prices and cash rent because"this time it's different". It wasn't. No one was able to escape the laws of economics. | |
|
Land Cost
