CHICAGO (Reuters) - As the Midwest struggles with the ripple effects of this year's devastating drought, farmland prices in Iowa hit a new record high on Thursday when an 80.47-acre parcel sold for $21,900 an acre, the auction firm that handled the sale said Friday. The parcel is located in Sioux County near Boyden, Iowa, about 42 miles southeast of Sioux Falls, South Dakota. The sale soared past last year's record price tag of $20,000 per acre which was set in an auction for a 74-acre parcel held in the same county in northwest Iowa. ...

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