We had a cash rent auction for 312 acres of cropland with an average CSR of 69.52. It is an unusual way to set rent, but required in this instance because the land is held by an estate with litigating beneficiaries. The auction started at $310 per acre and ended at $334 per acre-- by far the highest rent in my practice. It is even higher when you consider that the 312 acres includes 5.1 acres of required waterways and another 5.5 acres of permanent pasture and hay ground. The crop acres will be planted to corn. High prices, high yields and high crop revenue insurance are required for that kind of rent price to make sense. Good luck to all the farmers out there. This year has the makings of a higher stress growing season than usual.
ISU cash rent survey
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1 comment:
I have to agree with what you have posted. Hope everything is doing great in your place. Keep safe and good luck!
Richard
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