An increase in rent for cropland in Wisconsin is strapping grain farmers who are dealing with plummeting prices for corn.
Analysts say competition among farmers for land to grow crops or dump manure helped lead to an increase of about 8 percent for rented cropland this year compared to 2013.
The average cost to rent non-irrigated cropland was $130 per acre this year, an increase of $10 from last year. The National Agricultural Statistics Service report shows rent is highest in Layfayette County, which has a 9 percent increase to $231 an acre.
The State Journal says grain farmers saw corn prices drop 40 percent to around $4 a bushel in 2013. Experts say farmers need to get around $5 a bushel for their corn in order to meet 2014 rent prices.
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