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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.
"All the stories about big rent and high land prices cause me to worry...I have some ground we have farmed for over 30 years and remember the years we were not able to plant anything until June...the year(s) harvest price was so much lower than planting season prices."
New land highs
A young farmer says an 80-acre field sold in his area for an "astounding" price. It was a beginning farmer "with family help," which is a sign of new blood in the area, but he's quick to point out "he will not make money on that farm for a while.
"Everyone at the auction thought it was insane to spend that much on land."