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Farmland Rent-Past, Present and Future

Dennis Pennington and, Dennis Stein (April, 2015)

Summary

Farmers rely on renting farmland in order to maintain and/or expand their land base which is key to a farms overall viability. Over the past ten years farmland rental rate have risen to record levels that where for the most part supported by increases in commodity prices. As commodity prices are now trending lower farm producers are faced with less income to support the rents paid over the past few years. Making adjustments to current crop costs of production are vital for a farms overall success.