The past 3 years had some good crop prices, in a typical grain growing location rents should have gone up. Last year I put prices were crazy high, fuel fertilizer iron.... last year was a struggle to stay in the black.
Next year some costs are lower, but grain prices have fallen as well so looking for a big increase in rent for 2024 is unrealistic.
Now we come to the local factor..... what crops are grown there, what is the quality of your dirt, what is the shape and size of your fields. And what is the demand and supply of farm land.....
We can talk generally, but it comes down to selling or buying a used car. What condition is it, what model is it, does it have the features buyers want.
One used car will sell for $4000, another will sell for $21,000.
Good dirt will always bring good prices. Poor stuff will rise and fall as markets and demand ebb and flow.
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Today's Featured Article - Running Beans in East Central Indiana - by The Red, John Fritz. Fall is my second favorite season behind the long days of summer. The calendar reads late September and it�s time to start running beans. This article is about my experiences helping my farm neighbor Ernie Swoveland, along with his grandsons Jeff and Craig Ring, with the soybean harvest in East Central Indiana for the 1999 season.
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