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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 31, 1978
Page
7
On this date in 1944 a report notes defeat of Soviet forces by German troops at the World War I battle site of Tannenberg in Poland.
Forecasts of a record corn crop temper landlord demand as tenants push back on cash rents. Joel Hertz notes rents are not as high as rumored and cites a $150 per acre listing that he found to be $125. Eldon Olsen says buyers expect low prices with possible $1.50 per bushel corn, reducing willingness to pay premium rents.
Olsen notes growing interest in cash rents amid low prices with the Sept 1 lease termination deadline ahead. Hertz says some farmers bid above market to secure land, though they are the exception. With corn at $2 a bushel and $200 per acre gross, $100 per acre cash rent is the break-even point, prompting moves to variable cash rents or crop-share leases due to price uncertainty.
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