Farmers Walk Away From Leases Due to Plunging Grain Prices

Mike Shedlock writes that Farmers Walk Away From Leases Due to Plunging Grain Prices.

The price of corn is at a price seen in late 2006, wheat late 2005, and soybeans 2004. Land prices, lease prices, equipment prices, and fertilizer are much higher.

This has put the squeeze on many farmers, especially those who lease land. The result is best described as "walking away farmer style".

Emphasis Mine

This is a clash between the farmer and the rentiers. By refusing to reduce the rents, the landlords are committing economic suicide as farmers decamp.

This is an example of how class interests override class survival.