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Record Farmland Cash Rents

The cost to rent an acre of Iowa farmland increased nine percent last year to a record 279 dollars. Iowa State University’s Alejandro Plastina says the strong farm economy with good profitability and high land values pushed the increase.  He says some input costs came down, and the increase in interest rates has not been a factor after several years of good farm income. Plastina says farmers have built up some cash reserves and are not using credit loans, operating loans as much as in other years in in the past. There was considerable variability across counties depending on the quality of the land  — but only Woodbury, Des Moines, Jefferson, Lucas, Muscatine, Van Buren, Wapello, and Warren counties saw declines in their overall average cash rents.