Big picture agriculture has the whole story.

The farmland acquisition mania is spreading like wildfire. People who don't know one thing about the business of farming are idealizing it as a safe haven during this time of economic uncertainty. They are looking for something that is real. They are tired of being on the receiving end of "punish the saver" policies.

Farming is and always has been risky. It carries risks of illiquidity, weather, commodity price volatility, and most importantly, the risk of political pen-strokes. Even so, just as Deere & Co. is reporting that 2010 and 2011 are to be their most profitable years ever, the large scale farm operator is euphoric with currently high returns and is also enthusiastic to acquire additional land.