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"If it becomes obvious that corn prices are going to shakeout below $4 in the $3 range, we're at a peak," Gloy said. "Thelower commodity prices are hard to justify the really high landprices we've been seeing. If you take high quality farmland inIndiana, if you get much over $10,000 an acre, you've got tohave cash rents over $300 an acre, in some cases $400 or $500.If corn prices are below $5, it's going to be hard to pay thoserents." |
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