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WC MN | No, I have no intentions of going broke. Have let several thousand acres go over the last 5+ years over too high of rent for the land.
I never stated the young guns that will rent anything at any price. I never stated the old money was chasing rents, I said they were growing still.
I have no top end rents for the most part. 1 landlord had an offer for 20% more than I was currently paying but they stayed with me at the old rate which I am very fortunate and thankful for. I offered 2 others lower amounts and will no longer be operating those parcels due to that. I have no hard feelings about it and do not blame them.
The watershed land you use as an example is not insurable if I understand it correctly so I'm not sure your example is a good one. I do see the drop in price obviously but I bet the drop would be considerably less if it was insurable and not possibly flooded in June. Like I said, the super high rents and marginal land will drop the first and hardest.
I never stated the young guys have cash, I did state many believe more acres will equal more money in their pocket which is a fallacy.
I am not worried about 15' have a good chunk of the crop hedged. After this year I will look at dropping some more ground if commodity prices are still low.
Glad you don't have to rent land at auction, glad you have all loyal owners who are friends or family. Again, you are the exception not the rule. If I offered a 30% reduction in rents I would probably have lost at least 50% of my rented land. I can and most likely will make money at rents that were close to equal to last years.
Congrats on the drop you got, we are all happy for you.
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I have been told by a bunch of different posters
