Surging US crop prices reverse fortunes in Iowa


Source: bworldonline.com bworldonline.com

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REUTERS US FARMER ROB ARKFELD was vacationing on a sandy beach in Mexico’s Riviera Maya when he won an online auction to rent 535 acres of cropland back home in Iowa by bidding nearly double the local average for each acre. While sipping a drink and swiping his smartphone, the 48-year-old agreed to pay an annual rent of $417.50 per acre for the next two years for the ground in Mills County. That amount is big enough not just to rent, but to buy land in some parts of the United States. A surge to eight-year highs in US corn...