Posted by paul on October 15, 2008 at 10:40:36 from (66.60.197.26):
In Reply to: OT land prices posted by MoMike on October 15, 2008 at 09:33:15:
Land rent around here used to be $150 an acre, pretty steady. Land cost either side of $2000 for farming land.
The past 18 months, went to $200 to $340 an acre rent. Typical farm land is in the $4500 range, tad more of late again.
Will see what happens in another year.
But, if you contracted for selling corn into 2009/10 at over $5 a bu, at 200 bu an acre, you can come out. For now.
Lot of cash here in MN from the past couple of years, builders are overbooked, housing is still at a record pace, machinery dealers can't get new machines. It's been a good time to be farming in these parts. If you can put 30-50% down, the payments are a lot less than land rent right now.
For now. The future is a bit murkier. ;)
Think I saw that 140 in the papers, thanks for saying what it brought. Was currious if the ecconomic issues & lowering crop prices have affected things - not yet I see.
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