U.S. farmland cash rent rates continue to increase amidst unprecedented inflation. Nationally, farmers pay roughly $148 per acre of cropland, 5% higher than last year, according to USDA data. Cash rents in the most agriculturally productive areas of the country have climbed as much as 25% higher since 2020. Because farmland values and commodity prices have risen, cash rents typically react in tandem. And farmers often have a tough time negotiating rental rates, due to the fact they are established a year in advance.

The highest cash rent rates are in states with specialty crops, such as Arizona and California, coming in at $336 per acre and $331 per acre, respectively. However, Florida rental rates declined, making it the only state to produce cheaper cash rent prices, slipping to $121 per acre. Outside of specialty crops, Iowa maintains the highest cash rent in the Corn Belt, at $256 per acre.

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