Results from the most recent survey of farmland rental rates conducted by Iowa State University Extension and Outreach showed that the average estimated cash rent for corn and soybean land in the state for 2013 was $270 per acre, an increase of $18 per acre or 7 percent from last year.
The 2013 Iowa Farm Custom Rate Survey is now available to download from the Extension Online Store or the Ag Decision Maker website as Information File A3-10, Iowa Farm Custom Rate Survey. Print copies will be available at county extension offices.
Livestock producers who established a cover crop after corn harvest last fall are wondering how this will affect their crop insurance coverage for 2013, according to William Edwards, economist with Iowa State University Extension and Outreach.
Drought damage is an insurable loss under multiple peril crop insurance, which covers nearly 90 percent of the corn and soybean acres in Iowa. Producers should consult with their crop insurance agents before harvesting or destroying any drought-damaged crops.
Anyone who is involved with the rental market for Iowa farmland knows that rental rates have been pushed significantly higher by the favorable corn and soybean prices that farmers have enjoyed since 2010. This trend continued in 2012.
The Risk Management Agency (USDA) has some specific rules about early planted crops with regard to crop insurance coverage. For each insurable crop RMA has set an “early planting date.” Acres planted before these dates are no longer eligible for replant coverage payments should it be necessary to replant them.
Iowa State University Extension and Outreach and Iowa Farm Bureau Federation will address crop insurance and marketing decisions for farmers during a one-hour webinar Wednesday, Feb. 8.
Ag Decision Maker has a leasing Web page that is a portal to all Iowa State resources on improving farm lease contracts. The tools and information files will be helpful as landlords and tenants negotiate lease rates and conditions after harvest and into the winter .
The ISU Extension 2011 cash rental rate survey for Iowa found that the average cash rent for corn and soybean land in the state for 2011 is $214 per acre, an increase of $30 per acre or 16 percent from a year ago.
Iowa State University Extension will offer a workshop at Letts, Iowa, on owning, leasing and renting farm equipment, and strategies for sharing machinery and labor in farming operations.