Everything cycles..

https://www.fdic.gov/bank/historical/history/259_290.pdf

Export demand was dampened by unfavorable monetary exchange rates and by the less-developed-country (LDC) debt crisis (see Chapter 5). High domestic interest rates caused a significant strengthening of the dollar. From the third quarter of 1980 to the first quarter of 1985, the Federal Reserve Boards trade-weighted average index for the dollar rose by 83 percent. This rapid appreciation in the value of the dollar made U.S. exports more expensive in foreign currencies, not only reducing foreign demand but also encouraging foreign supply.  In addition, many developing countries that had previously been major importers of American farm products had debt problems, which led them to restrict agricultural imports in order to conserve foreign exchange. Banks in those countries reduced credit to finance agricultural imports. Moreover, creditor banks or the International Monetary Fund required austerity programs as a condition for restructuring existing loans. The decline in foreign demand caused by both the unfavorable exchange rates and the LDC debt crisis led in turn to an accumulation of huge surpluses of farm commodities in the early 1980s.

In 1981, as inflation declined and the problems of the agricultural sector increased, farmland prices began sliding downward. Farmland values for the United States and Iowa between 1970 and 1990 demonstrate both the boom-and-bust cycle and the dramatic changes that occurred within some states (see figure 8.2). In the nation as a whole, the value of farmland per acre rose 355 percent between 1970 and its peak in 1982 (from $157 to $715) but then declined 34 percent from 1982 to 1987 (down to $471). In Iowa, farmland value per acre soared from $319 in 1970 to $1,694 in 1982, an increase of 431 percent, but then dropped 62 percent by 1987 (down to $652).