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CASH RENTS GOING UP, WAY UP
Nov. 15, 2011
Source: Agri Marketing magazine
At last week's National Association of Farm Broadcasting's Trade Talk, exhibitor Jim Farrell, President/CEO of Farmers National Co. told attendees he expects cash rents in the Midwest will go up an average of 25% to 35%.
"Last year's rent negotiations were being completed when we were looking at corn prices that appeared to be headed for $3.50," he explains. "They are now in the mid-$6 range."
Seperately, another professional farm manager reported on two cash rent auctions which recently occured:
1. 136 acres near Hubbard in Hardin County, Iowa...135.7 cropland. 78 CSR rented for $515/ per gross acre. 12 registered bidders. 4 bidders still in at $500 per acre.
2. 80 acres south of Algona in Kossuth County, Iowa...78.9 cropland acres. 70.5 CSR rented for $475/acre. 5 registered bidders. 4 bidders still in at $400
Farmers National, headquartered in Omaha, is the nation's largest professional farm management and ag land realty firm. It manages over 2,500,000 acres on over 5,300 farms and ranches throughout the Midwest and Delta.
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