Cropland prices, on average, increased 10.9 percent from 2021 to 2022. In contrast, statewide cash rent only increased 3.1 percent. North Dakota State University Extension Agricultural Finance Specialist Bryon Parman said there are differences regionally. “The southeast increased just over 22 percent with some areas in the northwest increasing 11 to 12 percent.” Parman expects rental rates to remain steady. “Rental rates didn’t come up as much because of these high production costs. I just don’t think landlords wanted to do a double digit increase in rent because a lot of farmers would probably see that high of an increase and balk at it.”
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