Land values surge; Time to buy iron?

The farm land market was front-and-center this week, as new estimates show continued sharp value gains in major crop areas. It's just one of the big stories in ag this week.

Iowa land values shot higher by over 32% in the last year, according to an annual report issued this week. That's a record-high rate of growth, one ISU ag economist Mike Duffy calls "remarkable." But, it doesn't make a bubble ready to burst, he says.

• - Also: 'No time to panic' on land value collapse
• - Read more: Iowa prices rise at record pace

Prices like those have investors flooding the marketplace. But, they're not always the most informed when it comes to the farm land sector. See some ways this could change the market and how you can be a good land investor.

• - Tips for investing in farm land

Since grain prices have fallen lately, why hasn't the land market followed? Most say it's because the land market's simply slow to react to changes in grain prices, though some say the supply of land isn't keeping up with demand. What do you think?

• - Poll: Why haven't land values fallen yet?
• - Also: Making 5-figure land prices work

Land's not the only hot marketplace right now. Between healthy profits and now, year-end tax implications, the farm machinery and equipment marketplace is heating up. But, the clock is ticking, says Greg "Machinery Pete" Peterson. See some year-end buying tips from Pete.

• - Tax buyers spending big

So, is it time to buy a new tractor for your farm? If you're on the fence about it, how should you decide? See what other farmers say goes into their tractor-buying decisions. What's high on your list?

• - Read more: Time to buy a new tractor?

Elsewhere this week, former leaders from the now-defunct brokerage firm MF Global were grilled by Senate Ag Committee members after farmers and others testified about their losses stemming from the firm's bankruptcy and alleged commingling of customer funds.

• - Read more: MF Global back on the hot seat

Another hot topic out of Washington, D.C., came this week in the recommendation by the National Transportation Safety Board (NTSB) that cell phones be banned from all use by drivers, even with hands-free devices. The move could have a lot of implications for life and work on the farm. What do you think of the recommendation?

• - Talk: NTSB wants to ban cell phones for drivers

Meanwhile, the markets have been on a roller coaster ride the last few days as the trade turns its focus to factors like crop weather in South America, where it's turning dry. And, cash grain basis levels at home are weakening on higher domestic grain supply projections.

• - Markets eye South American weather
• - Also: Cash basis weakens as supply fears wane

Those wild up-and-down grain markets are just one of the biggest stories of the year in agriculture. This time of year, we like to take stock of what's been big in ag. Is it markets, weather or global economic problems? Chime in and add your 2 cents' worth!

• - Poll: How will you remember 2011?

While we're looking back, check out some of our favorite photos of the year from farmers around the country!

• - The ag year in pictures: 2011