The good news is land prices seem to have peaked, and may have dropped a bit in the past year. The bad news is commodity prices and interest rates are low. If commodity prices continue to stay low, farmland prices will decline. If interest rates go up (and they have nowhere else to go), land prices are going to drop.
You need to think long and hard about what that land might go for, and what's the absolute most you're willing to pay. Understand that it's quite unlikely you will be able to purchase the property at a price where it will generate a positive cash flow at today's commodity prices. Are there enough good reasons to buy it even if you'll lose money on it in the short term?
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Today's Featured Article - Harvestin Corn in Southern Wisconsin: The Early Years - by Pat Browning. In this area of Wisconsin, most crops are raised to support livestock production or dairy herds in various forms. Corn products were harvested for grain, and for ensilage (we always just called it 'silage'). Silo Filling Time On dairy farms back in the 30's and into the first half of the 40's, making of corn silage was done with horses pulling a corn binder producing tied bundles of fresh, sweet-smelling corn plants, nice green leaves with ear; the
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