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U.S. farm real estate values are seeing a rapid rise in 2021, with the Western Corn Belt seeing values rise at a faster pace than the East, but the storyline could change, according to Jackson Takach of Farmer Mac.

How much does it cost to rent cropland this year? According to NASS, the average price is $141 per acre. That’s $2 higher than last year, and up $7 from five years ago.

The start to 2021 is showing an increase in commodity prices. From fertilizer prices to seed prices, farm inputs are also on the rise, which could include the prices farmers may pay for cash rents next year.

For 2020, the national average for cash rents on cropland is $139 per acre, which is down $1 from 2019.

Key forces are converging to send farmland values higher — maybe even to historic levels.

Understand how this option fits into a rental agreement.

Farmland remains in a delicate supply-versus-demand balance.

The 2022 increase in values marks the largest increase state since 2014 and is the highest non-inflation-adjusted statewide land value in the history of the survey.

High prices cure high prices, but will that be the case with the record-breaking farmland prices seen in 2021 and early 2022?

Farmland sales continue to raise eyebrows and challenge—or set—records. Just look at these farmland sales results.