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N D Cropland Rents and Values Increase Modestly

N.D. Cropland Rents and Values Increase Modestly Bryon Parman Despite the recent commodity price rallies and ad hoc government payments to farmers across North Dakota, farmland values and rents have been reluctant to change. Relative to 2020, farmland values across the state are up a modest 1.74% while cropland cash rents are up 0.77%, according to data collected by the North Dakota Department of Trust Lands Survey found online at https://www.land.nd.gov/resources/north-dakota-county-rents-prices-annual-survey. “This comes after 2020’s surveys showed statewide cropland rents had fallen 0.42% while land values went up slightly, 1.73%,” says Bryon Parman, North Dakota State University Extension agricultural finance specialist.

N D Pastureland and Cash Rental Rates Inch Upward

Pastureland rental rates moved upward in the north-central, south-central and southeastern regions while declining modestly in the northwest, southwest and the east-central regions. The biggest increases occurred in the south-central and north-central regions, moving up nearly $2 per acre in the south-central and $1.20 per acre in the north-central region. “The remaining movements in pasture rental rates were more than small enough to be explained by noise in data and smaller sample sizes,” says Bryon Parman, North Dakota State University Extension agricultural finance specialist. “However, statewide average rental rates since 2015 have been pretty steady, from $18.20 per acre to $17.10 per acre. “Additionally, rental rates are not reported for the northeast, northern Red River Valley or southern Red River Valley regions due to sparse data availability in those areas,” he adds.

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