News 16 May 2018

Rental rates increase for the first time since 2013

Rental rates for Iowa farmland increased for the first time since 2013, according to the results of the Cash Rental Rates for Iowa 2018 Survey conducted by Iowa State University Extension and Outreach.“Cash rents seem to be following land values instead of expected farm profitability,” said Alejandro Plastina, assistant professor in economics and extension economist at Iowa State University.“If current prospects for corn and soybean prices don’t improve in the short run, the observed increase in cash rents for 2018 might be short-lived and I would expect further declines in rental rates in the coming years.”In 2018, rental rates increased from $219 to $222 per acre statewide for tillable corn and soy, with increases in prices shown in all regions but the south-central and southeast regions.In District 3, which is northeast Iowa starting at the Chickasaw County vertical tier east and south through Black Hawk County, rents rose $3 an acre from $241 to $244. — For more on this story, see the May 15 New Hampton Tribune.

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