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Jan. 27, 2010 By Jim Farrell, CEO, Farmers National Co., Omaha, NE Despite the volatile grain markets and tough harvest, there is still strong demand from farm operators to rent more land for the coming year. Part of the reason the market has remained strong is that many farmers had good income in 2009, especially if they bought their inputs at the right time and if they were aggressive grain marketers. Continued strong land values have also helped to hold rental terms steady to stronger in much of the Midwest. Nebraska: steady rents. Top pivot ground in northeast and east-central Nebraska is renting for $220 to $240 per acre. Kansas/Missouri: Rents are steady to up 5% to 10%. Iowa/Minnesota: steady rents ranging from $225 to $275 per acre. Northern MN, SD eastern ND average between $100 and $150 per acre. Illinois: steady rents. Some high-end may decline 5%. Average rents are from $275 to $300 per acre. Indiana: steady rents. Average rents are from $250 to $275 per acre. Mid South: steady rents. Better farms may have a 5% increase. Irrigated land cash rents are running around $190 per acre. Tweet |
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