Farmland values have recently increased dramatically in the Midwest, attracting investors from outside of agriculture and causing many inside agriculture to question whether a speculative bubble has formed. This article addresses that question by presenting an economic by presenting an economic assessment of the facts related to farmland values across regions of the United States to give a more complete outlook for Midwestern farmland prices. After presenting an analysis of farmland values, this article concludes with discussion of some often-ignored factors that should be at the center of the current debate.


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