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Indiana farmland auction tops $11,000

A recent land auction near Elkhart, Ind. brought over $11,000 an acre.  According to Schrader Real Estate and Auction Company, a bidder combined two tracts of land to purchase just over 57 acres for $740,000.  R.D. Schrader, president of Schrader’s says over the last year they have seen both farmers and farmland investors recognize the true value of tillable land. 

Schrader says he thinks part of the increase in land prices is being driven by international demand for America’s farm products.

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