ISU Releases Annual Cash Rental Rate Survey For Cropland

ISU Releases Annual Cash Rental Rate Survey For Cropland

On statewide basis there isn't much change in cash rents for 2010 compared to 2009, but some counties have had significant changes.

Iowa State University Extension's annual survey of cash rental rates shows that on a statewide average, the 2010 rate for cropland isn't much different than it was for 2009. However, some counties had significant changes from May 2009 to May 2010.

These cash rental rates are the result of a survey of farmers, landowners, lenders, real estate brokers and professional farm managers, explains William Edwards, ISU Extension economist.  They supplied information based on their best judgments regarding typical cash rental rates for high, medium and low quality cropland in their counties, as well as for land devoted to production of hay, oats and pasture.

Information about rents for individual farms was not collected, he says. Also, the rental rates summarized do not reflect the value of any buildings or storage structures on the land, nor do they reflect manure application contracts or seed production contracts.

Click on these links to see map, and more information on rental rates

The May 2010 Iowa Cash Rental Rate Survey summary just released, and can be found at:  http://www.extension.iastate.edu/agdm/wholefarm/pdf/c2-10.pdf . This link will also give you the cash rental average rates by county in each crop reporting district in Iowa. In addition, you can check ISU's Ag Decision Maker site for other farm management information regarding this survey as well http://www.extension.iastate.edu/agdm/?src=text.

Edwards says the survey had 1,249 responses this year. Of those 45% were farmers, 31% landowners, 9% professional managers, 11% lenders and 4% other professions. Circumstances such as the following factors may have been responsible for a higher or lower rent in specific cases.

Average cash rents per year for each district in Iowa.

Sometimes you see small size or unusual shape of fields; presence of terraces or creeks that affect the time it takes to plant and harvest; difficult or restricted access to fields; high or low fertility levels or pH index; existence of contracts for growing seed or specialty grains, or application of manure; above-average local grain prices due to proximity to biofuel plants or feed mills; USDA farm program variables, such as crop bases and assigned yields; longevity of the lease, and other services that may be performed by the tenant such as keeping waterways and ditches mowed, etc.

TAGS: USDA
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