Renting rather than purchasing land can be a smart short- and long-term farming strategy. While it makes especially good economic sense for young, cash-strapped farmers starting out, land prices in the $3,500 to $6,000 per acre range make renting a sound strategy for established farmers as well.
The tight farm financial picture that has evolved over the last three crop years has many farmers adjusting capital, operational and agronomic practices. The aim is to push up the profit margin while cutting costs. GrainsWest spoke with three agricultural advisors about such dollar-saving tactics.