A National Agricultural Statistics Service survey shows farmland rental rates in Iowa are on the rise. Iowa State University Extension Economist and crop marketing specialist Chad Hart says there was a slight increase over last year of $5 dollars an acre to $ 260 this year.
Hart says grain prices over the last few years have been fairly strong which affected the rental rates.
Hart says in the future with the recent drop in grain prices, there’s likely to be some rental rates renegotiated between farmers and landlords.
Three counties, two in Northwest Iowa had average rental rates this year of more than $ 300 per acre and those were Sioux and Ida. The third county was Grundy.