https://www.stltoday.com/news/national/north-dakota-farmland…
Bill Gates trust (the largest US land owner) bought 2100 acres for $13.5MM or $6428.57/acre.
Land is one of the best inflation hedges. There is only so much land they say. Productive farm land has to be prime. Especially when grain prices are up.
North Dakota is one of those that seeks to protect the family farm by placing limits on corporate purchases. But of course, sellers still want top dollar.