Land rents?

[dnach]

Land rents in our area are now all over the map. The land owners are confused, renters are confused and the bankers are gigling. We have had three dry years: 2000 @ 80% of precip. 2001 @ 60% and 2002 @ 40% ( growing season moisture ).
The latest land rent was for about 1700 acres @ $43.5/ac. When most of the land is going for about $30-$35/ac, nobody can figure this one out.
Two years ago we rented land for $31/ac and some for $15/ac 10% crop share.
We are still very dry and all the land mentioned above produces about the same.

My Question is what is going on in other parts of Sask. and Alberta, as far as land rents? (dryland acres)

[rookie]

I have a friend in South Dakota who farms. He recently told me that at an auction, land was rented out for $170/acre. No b.s. here either.

[dnach]

Goes to show that U.S. subsidies are doing nothing for the actual producers.

[ianben]

Thats about right. Here in UK subsidy equals rent so just subsidises land values. Low prices and producers go bust.

[ianben]

That price in SD is likely being paid by a GMO company to use the land as a test site for GMO wheat. After that, the land won't be worth crap. Just a though <grin>

[ianben]

That price in SD is likely being paid by a GMO company to use the land as a test site for GMO wheat. After that, the land won't be worth crap. Just a though <grin>