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Opinion
Adam Minter

US Farmland Is a Hot Commodity. That’s Not Great for Farms.

The surging cost of Midwestern acreage hinders the kind of agricultural innovation favored by a new generation of resilient and experimental farmers.

Something to make a real-estate broker smile.

Something to make a real-estate broker smile.

Photographer: Daniel Acker/Bloomberg

Looking for a hedge against inflation? Midwestern farmland might be for you.

Across the Midwest, values are up 23% from a year ago, fueled by surging commodity prices. Rents on Iowa farmland have surged 10.22% so far in 2022. And more opportunity is on the way. More than 40% of US farmland is owned by people older than 65, so hundreds of millions of their acres will transfer to new owners in the coming years.