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| Got the new rent contract for next year from a landlord today - she's upping it $25/acre. Told her that grain prices are down, she says, "It doesn't matter, I know what land rent goes for around here". My family has been farming it for 30 years now. We'd hate to let it go. It's not the best ground, either, but we've made it work this long.
At the rent level she wants, if we get the county T yield of beans at current local cash price of $9.00 we'd be losing $20/acre if we count our time, equipment take home pay at 0. That's losing $20 just figuring rent, seed, spraying with roundup twice, and diesel. We normally fertilize beans but won't be able to afford it in this case, so counting that as 0.
It's a one year contract. She's always going to want top dollar, so we don't have a lot of hope of getting the rent back down to earth next year. So we'll need a bumper crop or a dramatic comeback in prices to make a buck on this.
Anyone have any advice on this? | |
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Land Rent Advice
