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CASH RENTS FELL AN AVERAGE OF 10% IN 2015, SIMILAR DROP EXPECTED
Aug. 5, 2015
BrownfieldAgNews reports:
On average, crop land rental rates across the Midwest were down about ten percent in 2015.
Jim Farrell, CEO of Farmers National Company, the nation's largest farm management firm, foresees a similar scenario in 2016.
"We're probably looking at either steady or perhaps as much as ten percent down again," Farrell says. "It will depend on the area and it will depend on how high that rent is today compared to what the average is in the market."
Farrell doesn't anticipate a quick turnaround in the current "low margin" environment.
"Unless we see some sort of a crop issue that suddenly gives us a burst in grain prices, looking ahead, I think it will be a couple of years of slow profits or low profits."
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