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Iowa | I know what you're getting at as we experienced it first hand during the ethanol boom.
Several years in a row every august we received a termination notice wanting more rent for the next year witch was fine when the prices supported it but when the prices collapsed there was no chance of getting the rent to come down. We stuck it out for a couple of years before we let it go and didn't renew the lease. Another man farmed it for a couple of years before he let it go because he couldn't make any money so it was then put in CRP for more than anyone was willing to rent it for at the time.
I feel it was a good learning experience for me at a young age. Before this all took place I was envious of the guys running new machinery and after I was envious of the guys that are able to make a go of it farming just what they own regardless of their machinery. It really changed the way my father and I looked at upgrading machinery etc. vs. saving up to buy ground.
So I think it really depends on one's situation as to how good things are going to get for them. | |
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Am I the only one?
