More than 800 acres of prime farmland in Delaware and Madison counties in Indiana sold for $7.9 million in open bidding on April 8th. The land consisted of 14 tracts in Delaware country totaling 557 acres and one tract in Madison county. Purdue University’s latest farmland value survey found that the highest quality farmland in the state increase 19% in value between 2012 and 2013 to $9,177 per acre – the land sold in this auction exceeded this value bringing $9,482 per acre. The next farmland values survey will be published in August. High net farm incomes, favorable interest rates, strong farmland demand and limited supply for sale, and growing demand for corn from China have all had a driving effect on the values of farmland.
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