Statewide Iowa — Iowa State University Extension is hosting a series of seminars across the state about renting or owning farmland.
The first two will be held in Mitchell and Mahaska Counties on July 26th. Gary Wright is a farm management specialist with ISU Extension who’s based in Spirit Lake.
More than half of Iowa cropland is rented. Under state law, September 1st is the date by which a tenant or landlord has to notify the other party if they want to terminate a lease or rental agreement. Wright says at each seminar, ISU Extension staff review market prices and the factors influencing 2023 cash rental rates for farmland.
According to ISU Extension, many farmland rental agreements have a flat, per acre rate. They also say that flexible leases calculate the rental rate based on the costs of inputs like seeds, diesel and fertilizer as well as yields and the actual price for the crop once it’s sold.
A survey of farmers, landowners, realtors, bankers and professional farm managers found cash rent for high quality corn and soybean ground in Iowa averaged in the range of 250 dollars per acre for the current growing season. An average acre of Iowa farmland was valued at about 98-hundred dollars last fall. In May, a farm in Plymouth County even sold for 25-thousand dollars an acre.
Find a link at www.radioiowa.com for the seminar in your county. Registration is required.
