Skyrocketing farmland values attract hedge funds

Farmland prices are rising so fast globally that hedge funds and investment brokers are buying into the traditionally pokey investment, according to Bloomberg. U.S. farmland rose an average of 15 percent in 2006, Bloomberg reported, citing government figures.

The soaring prices are mostly driven by rising demand for corn from ethanol fuel distillers, but also by degradation of land through development and lack of irrigation.