By David Bau, Extension Educator The average cash price for corn and soybeans each calendar year since 2003 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 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 $127 in 2003 and then multiplies this by the corn and soybean price change (17.26%) to determine a rental rate of $148.93 for 2004. To determine the 2005 rental rate, start with the 2004 rate of $148.93 and multiply this by the price change (-25.28) and to determine an average rent of $111.28 for 2005. This process was repeated to determine rentals rate through 2018. Comparing Ca
