$150 rent and $1.50 corn- remember to add in $25/A for direct payment, and upward of $100/a LDP was possible some years. Now, I wouldn't want to have bet on it--you could only LDP a high dollar amt per acre IF you raised a big crop-- but for some years, the direct payment and the LDP about paid the rent.
In your 2008 "budget" you left out the $50.00 plus per Acre it will cost to insure a crop in such a way as to try these $400 rents. $30/A drying is also possible--half that is more than likely.
I'll take $150 rent and $1.50 corn with our old farm program before I'll take $400 rent and $5 corn WITHOUT any gov't safety net.Remember you can't fwd sell more than your insurance guarantee, so with decent weather you still will have unpriced bushels at the mercy of the market
Of course I'll take todays market and todays AVERAGE rent over either above scenerio.
BIG numbers mean BIG risk--much more likely to loose everything if things go bad compared to a few years ago.
I know your statement was only trying to prove a point, but I think it may have been said a little hastily
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