An interesting report that contrasts well with the current gloomy real estate headlines:

"The annual growth in agricultural land values was 12 percent in 2010 for the Seventh Federal Reserve District—the second-largest increase in the past 30 years." ...   "The 12 percent annual increase in the value of “good” agricultural land for 2010 was in a tie for the second-largest increase of the past 30 years.".

Source:

The Agricultural Newsletter, Number 1951 February 2011
from the Federal Reserve Bank of Chicago

Read the full report