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Land Resources / News / Illinois
Record high farmland values bitter for tenant farmers sweet for landowners
Source: Medill Reports Chicago, by Kimberly Wilson
June 08, 2011 
With farmland selling at record high prices and the value of crops soaring, it should be the best of times in the farm belt. But farmers are seeing the cost of doing business jump as well, with high energy costs and, for tenant farmers, record-high rents for land.
Tom Nugent, 51, a farmer in Will County who operates 1,000 acres of mostly corn and soybeans, said he rents most of the land he cultivates. With commodity prices rising rapidly – both corn and soybean futures prices are at or near record highs -- he said it’s “amazing” how fast the rent increases have followed.
Read the complete article from Medill Reports Chicago » |
