How Will New Farmers Control Farmland
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The U.S. will soon see many farmers retire and younger farmers taking their
place. These younger farmers would prefer to purchase the land rather than
rent because of the advantages associated with ownership. However, these
farmers need to determine how many acres they need to rent in order to
support their purchased land and still provide funds for family living. The
model developed here is applied to a typical farm in the Midwest. The results
indicate that cash rent is a key element of the model.