Big rents & high land
If Yogi Berra followed the land rental market instead of baseball, he might be saying, “It’s déjà vu all over again.”
Think back to February 2007. Grain prices were higher; the 2007 crop could be priced at relatively high levels, but producers were reluctant to sell a large percentage of that crop in advance. Input costs were going up. And the land rental market was in turmoil. And now, that's all happening again.