Nebraska ranks sixth in the nation in average cash rental rates at $196 per acre. Data from USDA’s National Ag Statistics Service shows the northeast part of the state had the highest rate. Cedar County topped the list for irrigated land at $324 an acre and Dakota County led the way for non-irrigated land at $271 per acre. Nebraska Farm Bureau Senior Economist Jay Rempe says he was surprised northeast Nebraska had the highest levels.
He says those cash rents are pretty tough on farmers who are facing lower commodity prices. Rempe expects some renegotiation on cash rents will have to occur going forward.
Rempe says the ag economy has been tough on both landowners and the farmers renting the ground, but he’s hopeful they’ll be able to work out a rental agreement.
Iowa ranked second in the nation in average cash rents. The nationwide average was $136 per acre, which is down 6-percent from 2015.
