The 2016 NASS results of their Cash Rent surveys have been released. The results are obtained by a survey of farmers conducted by the United States Department of Agricultural National Agricultural Statistics Service. Every year, NASS collects cash rent data by state for irrigated cropland, non-irrigated cropland, and pastureland.  In even numbered years, they break this data down by county.  The county-level reports should be out in September.  For now, we have the national and state-by-state results. Nationwide, cash rental rates have dropped in the last year.  Here… Read More →

Every year, the Texas Chapter of the American Society of Farm Managers and Rural Appraisers publishes the Texas Rural Land Value Trends Report.  This publication, which comes out each April, looks at land prices across Texas, broken down into 7 regions and then into several sub-regions.  It reports average rates for land sales as well as land rentals.  The publication also looks at how these rates have changed since the prior year, factors driving land prices, such as commodity prices and water availability, and reports on the most commonly planted… Read More →

A recent decision by the Iowa Court of Appeals offers some important lessons when thinking about farm estate planning and farm leases.  The court’s opinion in Hope K. Farms, LLC v. Gumm, No. 14-1371 (Iowa Ct. App. June 29, 2016), may be found here. Background This case involves Iowa farmland that was owned by Mr. Gumm’s mother.  During her life, Mr. Gumm had a lease agreement with her that allowed him to farm the land.  Upon her death, ownership of the land passed to the Gumm Family Trust.  The… Read More →