2011 Cropland Cash Rents Up 8.8%

USAgNet reports that nationally, cash rents per acre paid to landlords for cropland in 2011, rose $9.00 or 8.8%, while pasture rents also increased 4.5% to $11.50. Cropland cash rents averaged $111.00 per acre, compared with $102.00 per acre for 2010. Pasture cash rents averaged $11.50 per acre, above the 2010 price of $11.00.

The increase in cropland land rental rates are the result of producers receiving strong commodity prices, while pasture cash rent is impacted by increased land values.

The Lake States region had the highest percentage increase for cropland, 11.2% above 2010. Cropland cash rents increased $6.50 per acre to $77.50 in the Northern Plains region and $15.00 per acre to $167.00 in the Corn Belt region. The Corn Belt and Northern Plains regions account for slightly more than one half of cash rented cropland acreage in the U.S.

The major corn and soybean producing states of Illinois, Indiana and Iowa experienced increases in cropland cash rents. Iowa increased 11.4% to $196.00 per acre, while Illinois and Indiana both increased approximately 8% to $183.00 and $152.00 per acre, respectively. ♦