Farmland prices remain strong and that’s good for the seller, but can be a challenge for the cash renter. Terry Sturgell is the president of the Edgar County Farm Bureau in Paris, Illinois.
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Sturgell says there is no better investment than farmland right now.
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On July 1st, farmland prices in Illinois averaged $11,200 per acre for excellent quality farmland, $9,200 for good quality farmland, $7,800 for average quality farmland, and $5,900 for fair quality farmland. A year ago, the 2011 Mid-Year survey indicated the value of the best quality land surpassed $10,000 for the first time.