Farmland prices are rising because of biofuels, according to the New York Times.
DEKALB, Ill. — While much of the nation worries about a slumping real estate market, people in Midwestern farm country are experiencing exactly the opposite. Take, for instance, the farm here — nearly 80 acres of corn and soybeans off a gravel road in a universe of corn and soybeans — that sold for $10,000 an acre at auction this spring, a price that astonished even the auctioneer.An interesting story, but is it a bubble? Of course this makes it more expensive to integrate back to the soil.