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North Central Illinois | Yeah Mark that 2008 yield was a once in a lifetime deal. We had the record breaking yields and really, really good prices to go with it. Probably never happen like that again. Unfortunately it emboldened a lot of guys to bid outrageous cash rents that are still hurting everyone. We needed another year of corn at $3.50 and just average yields to trim the horns of some of the BTO's that have been swinging the big rents. There were several that bid over $300 for rents last fall and winter and had to let the ground go come spring because they couldn't get financing for inputs with the kind of rent they were paying. Those same guys are doing it again now bidding $300 and over just to secure the ground and then come spring they will hope to talk the landlord down on the rent. Thats the only thing I can figure is going on. Their pencil works the same as mine and mine don't work with those kinds of numbers. Very scary times in this area. I will add that after 2008 with big yields and prices it wasn't just the BTO's that were bidding crazy rents. A lot of smaller farmers went after land and got it only to find out that they are losing money with it now. I guess we are all our own worst enemy. | |
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4.39 in dec corn
