Who would have thought that farmers would have drummed up so much interest from private equity firms and even some hedge funds? So far, only a handful of deals to buy farm and ranch land have closed, but soaring land prices and interest in ethanol have a lot of firms taking a good look. The time may be now. In some areas, such as Iowa, land prices have soared up to 30 percent in the last year and a half. Obviously, the big issue is how long can this last. Corn farmers may be in the the best position, and their fortunes seem to be tied to the ethanol market. Unfortunately, there are some signs of oversupply already. Some say the production may outstrip demand as early as this year. Then again, it could be a blip.

For more:
- here's an AP article
- more private equity news