The sale of prime farm land in west-central Illinois usually brings more than $10,000 per acre.
A consultant and former WIU faculty member said that trend is likely to continue.
David Johnston said the prices for farm land are not a “bubble.” He said the prices are based on solid fundamentals.
He said low interest rates are having a limited effect.
Johnston said, “The buyers in this market are primarily cash buyers. So interest rates are irrelevant to a totally cash buyer as far as borrowing funds whatsoever.”