Cash Lease/Share Lease

From the Farm News:

"An unprecedented raise in corn prices last fall brought with it gross revenue increases for Iowa farmers that in many cases were double from the year before. For landowners who cash rent their land, revenues were unchanged.

‘‘We have had a lot of calls from landowners and farmers, especially when they see prices this high for corn,’’ said William Edwards, Iowa State University Extension economist. ‘‘They want to know how they can make the cash rent scenario more equitable on both sides.’’"

The article goes on to point out that Farm Service Agency has concerns whenever a lease is changed, because it can impact eligibility for payments. A larger point is that any dramatic change in economic conditions causes people to try to adjust, which can then undermine the assumptions upon which a given piece of legislation was written.