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| Rents are going insane in this area. I heard of a farm near us that brought $340 per acre, $700 a ton for spring anhydrous is looking like a bargain, dry fertilizer is ridiculous, crop insurance (with a revenue guarantee) is going to insanely high, triple-stack hybrids are nearing $200 per bag, and they can't settle on a new farm bill... It won't stop. On top of it, the basis levels widen every day the futures rise. I'm afraid to look at the bids today. When prices come back to reality, there will be farm sale after farm sale. High rents, huge inputs, and poor decisions in regards to purchases of new equipment will haunt many. Sorry for the doom and gloom guys, but I don't see flowers everywhere I look. | |
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Someone will stop all of this
