By David Bau, Extension Educator The average cash price for corn and soybeans each calendar year since 2000 is listed in Table 1 below. Columns 2 and 3 list the average cash prices each year in Worthington for corn and soybeans. The Column 4 lists the average percent change in corn and soybean prices from the prior year. Column 5 lists the average rent paid by 1200 farmers in Southern Minnesota who are part of an Adult Farm Management Programs. Column 5 multiplies the price percent change by previous year’s actual average rents to determine the farmland rent each year. Column 7 starts with the average rent $98.31 in 2000 and then multiplies this by the corn and soybean price change (-3.21) to determine a rental rate of $95.16 for 2001. To determine the 2002 rental rate, start with the 2001 rate of $95.16 and multiply this by the price change (15.06) and to determine an average rent of $109.49 for 2002. This process was repeated to determine rentals rate through 2017. There ar
