THE best advice for figuring cash rent in light of escalating input costs is also the simplest: Forget generic examples. Forget what your neighbors are saying. Ask yourself what you can afford in your situation. "Things will be tighter in crop budgetsthis year," says Craig Dobbins, a Purdue University ag economist. "The real issue is 'What is your situation? What are you spending per acre? And what are your margins?'" Turn to your records for answers. If they're sketchy, see it as a reminder that good re-cordkeeping is the foundation to good decision-making. Sit down and pencil out costs as accurately as possible.
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