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NW Missouri | Yep. The difference between the two is that there is no way to get around the $300 limit. Lots of ways to get around the $50k. Admittedly, that limit should go up some. I think it was $50k when CRP started in '86. At that time, ground around here went in for $60. Now it's $100 more than that.
I remember that when the 2018 farm bill came out congress was trying to cut spending, and they put a 15% reduction onto CRP rates, which dropped them in our area from $160s to $130s. I decided against putting some in during that time. Then when this administration got into power, they found some loopholes to provide incentives and get most of that 15% reduction back. So then I did put some in. Other than those couple of years with lower rates, our rates have stayed in the $150s-$160s for probably 10 years. I really think they're about right. They're lower than you can get for cash rent, so they aren't driving out the young farmers, but they are high enough to be a viable option on ground that really shouldn't be farmed continuously anyway. They do set a floor for cash rent, but it's a pretty low floor. | |
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CRP and inflation , renting to the government.
