Purchasing farmland is a personal decision based on your net worth and what you want to do with your money. Near-term economics have little to do with the sharp rise in land values.

This investment has proven to be a very solid one over the past 50 years and while there could be some minor softening, land investments will continue to be a good way to build wealth.

To expect a continued rise in land value similar to the past three years, however, might be a little optimistic. And if you want to be conservative in estimating cash flows on Corn Belt farmland, assume $5 corn and $10 soybeans. That will be more realistic.