When viewed regionally, much wider swings were observed in which the northwestern region appeared to have cropland rents fall 5.2% from 2017, then increase 7.38% in 2019, then fall again 6.6% in 2020. Much of that movement likely is related to the average quality of the cropland rented or negotiated in any given year and survey measurement error. “However, when movements that small are put into context over time, it shows North Dakota cropland values and rents are not moving,” Parman notes.įor instance, from 2017 to 2018, rents statewide were down 4.6%, then from 2018 to 2019, they were up 3.6%, then down slightly again in 2020 by. 5% in 2020, while land values were up slightly at 1.73%. Parman used data from the 2020 North Dakota Department of Trust Lands survey to determine that state average cash rents were down. “Despite the lower commodity prices of the last several years, the longer-term averages have been aided by low interest rates, farm programs and ad hoc payment programs designed to help farmers meet cash flow obligations,” Parman says. North Dakota cropland values and cash rents remain flat, says Bryon Parman, North Dakota State University Extension agricultural finance specialist.
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