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NWMO | That number is from a cash rent auction. Originally bid up to $490/ac, that deal fell through, and the second place guy wound up getting it for that.
Raised a bunch of eyebrows, but is uncommon for this area. It was a large tract ~500 acres or so
Most rents in this area range from $150/acres for poor dirt up to $400/acre for the very best of the best. Most falling in the $200-$300/ac area across the board
Definitely would not like to be locked into a $400/ac contract this year, that would be very painful with what average yields are in our area. We grow good crops, but we’re not central Illinois by any stretch | |
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Undermarket cash rents still going up
