date:Oct 18, 2012
be? Obviously, the price has to be viable for both the farmer and landowner, but how that price is reached depends on the involved parties' risk aversion and willingness to make year-to-year changes.
It is difficult to set cash rents in the current price environment at levels that will not have to be revised in future years. For example, one strategy could be to set cash rents based on long-run prices and then leave those rents unchanged in future years. This strategy would result in cash ren