Posted by 1206SWMO on February 25, 2008 at 14:53:41 from (12.213.112.59):
In Reply to: Cash crop rent posted by seia on February 25, 2008 at 12:47:15:
Your Mothers renter is taking advantage of her..Is 160 bu corn and 52 bu beans the best its ever done or is that a 10 year average?We need to know this.I'm guessing the 10 yr average isnt quite that high as NE MO has had several bad droughts in the past 10 years.
It looks like he should be paying at least $125 acre.Most ground rents for at least 5% of its current value per acre.
Around here in SWMO 120 bu corn,50 bu wheat,and 30 bu soybean ground rents for $70-80 per acre which is on the cheap side.Ground is selling for $1500-2000 per acre here.Lots of places its rents for $1 or more per bushel on the corn x the 5 year average.
Even with high input costs theres lots of money to be made with $5 corn,$13 beans,and $9 wheat.150 bu corn at just $4 per bushel is $600 gross per acre which leaves plenty of room to pay $125 per acre rent..If the current renter doesnt want to pay that many others gladly will.
Some rents in central Illinois are in the $300-400 per acre range on 200 bu corn ground which is high in my opinion.
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