1000 acres for $16,000,000 and produces $800,000 worth of corn sounds pretty good. 5% return to pay the interest.
Please expand your logic and where you find those figures
Iowa land according to hlg posting above goes for $16,000 an acre. Year in and year out about a 200 bushel average is to be expected. 200 bushels at $4 is $800 which is about average more or less a little. $800 on 1000 acres will gross $800,000. If you paid $16,000 per acre just add 3 zeros to that to get your price on 1000 acres. 16,000 x .05 = 800
