The new cash rental rate survey is out for 2014 for those who rent farmland in the state.

Greene County ISU Extension Coordinator Michael Cooley says overall, Greene County saw a six percent drop in its average cash rental rate compared to the statewide average which had a slight decrease of four percent.

He comments that for the last couple of years, the prices of corn and soybean have been on the rise, and this year, there’s been a drop in price which in turn means Greene County will see a decrease in its cash rental rate.

“So it’s all kind of associated with corn prices since we tend to get a little more bushel per acre yield that makes the land just a little more valuable which in turn bumps up cash rental rates just a little bit more.  So when we see a drop in price, we’re going to see a little bit more of a drop than the statewide average.”

Cooley points out that the survey is split up into three categories ranging from the lowest third to the highest third.  Greene County’s lowest third was $241 per acre, the middle third was $282 and the highest third came in at $324 per acre.  In 2013, the average rate for the county was $300 per acre.

The survey was conducted by ISU Extension and there were 13 participants from Greene County who knew about the average prices of cash rental farm property in the area.

For the complete survey, click here.