Statewide Iowa — A survey finds Iowa had the highest cash rent average for cropland this year at 233-dollars an acre, three dollars an acre higher than last year.
Farmers across the country are paying an average of 141-dollars per acre to rent cropland. That’s up two dollars from last year. Iowa State University Extension ag economist Wendong Zhang says cash rents closely follow farmland values.
He says having cash rents follow farmland values is supported by their recent survey of farm managers and ag lenders.
Zhang expects the farmland values and cash rents to remain high.
Of the top five states, Iowa had the highest cash rent average followed by Illinois, Indiana, Nebraska and Minnesota.
