|
|
Post by kl9 on Apr 19, 2021 19:18:21 GMT -6
Looking at a tract of land I'd like to buy. 85-90 acres tillable plus some wooded acreage. Whole purchase is on the expensive side for me, but would like to pull it off if possible. I need to talk to a couple local farmers still, but I believe local ag rental rates are $140-$200/acre... I'm likely in the $150-$175/acre range. I don't want to put the tillable into CRP, but if it helps me be able to purchase the farm overall I would strongly consider it. Anyone look into this lately or have any idea what the current rates /acre are for CRP? This would be in MN (not sure if it varies state to state).
|
|
|
|
Post by benmnwi on Apr 19, 2021 19:30:39 GMT -6
My Olmsted county mn tillable is going into crp this spring at $111/acre per year. Better soil would bring a higher rate, but all are lower than prior years.
|
|
|
|
Post by kl9 on Apr 19, 2021 19:32:21 GMT -6
My Olmsted county mn tillable is going into crp this spring at $111/acre per year. Better soil would bring a higher rate, but all are lower than prior years. Oh man! I was hoping for more like $180-200/acre. Could you have rented that ground out to a farmer for more or was it harder ground to rent? |
|
|
|
Post by benmnwi on Apr 19, 2021 19:45:53 GMT -6
My fields here are small, so most farmers aren't interested. I'm more worried about a farmer accidentally spraying my fruit trees or plots, so crp worked better for me.
A few years back when crp prices were high a neighbor got $325/acre but that was with old rules and higher corn prices that determine rates.
The new crp rates are a max of 85% the going rental rate I believe and they are also based on the recent lower corn prices. I think $200 would be pretty good.
|
|
|
|
Post by Bwoods11 on Apr 20, 2021 5:28:45 GMT -6
CRP in Swift County/MN (good soil) was $168 an acre.
|
|
|
|
Post by kl9 on Apr 24, 2021 15:08:24 GMT -6
My fields here are small, so most farmers aren't interested. I'm more worried about a farmer accidentally spraying my fruit trees or plots, so crp worked better for me. A few years back when crp prices were high a neighbor got $325/acre but that was with old rules and higher corn prices that determine rates. The new crp rates are a max of 85% the going rental rate I believe and they are also based on the recent lower corn prices. I think $200 would be pretty good. They told me around $160 was best case scenario right now. I could prob get that with corn so that would be the plan |
|
|
|
Post by benmnwi on Apr 24, 2021 16:05:41 GMT -6
The crp rates should go up in a few years when they use today's higher crop prices in their calculations.
|
|
|
|
Post by MoBuckChaser on Apr 24, 2021 16:59:39 GMT -6
Best I saw last time $8 corn was around was just over $170/acre for one of our MO farms. Rent was $275/acre so we never put that farm into CRP.
|
|
