undefined Agriculture Overview

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As South Dakota's number 1 industry, agriculture plays a vitally important role in the lives of many of its citizens. South Dakota farmland is made up of productive prairie derived soils on glacial till and its favorable climate promotes the growth of a wide variety of crops. South Dakota's agricultural impact is felt across the country as they commonly rank in the top 10 for the production of: Corn, Soybeans, Spring Wheat, Winter Wheat, Oats, Sorghum, Hay, Sunflower Seed, Barley, Rye, Millet, and Flaxseed. As of 2017, 89% of South Dakota's land area was farmland, totaling 43.2 million acres. There were a total of 29,968 farms with an average size of 1,443 acres.

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Farmland Rental Rates

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south dakota Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the south dakota have risen from an average of $94 per acre in 2008 to $119 per acre in 2019. This represents an increase of $25 over this time period with an average implied capitalization rate of 4.1%.

$119

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.0200820092010201120122013201420152016201720182019$ 0$ 30$ 60$ 90$ 120$ 150Highcharts.com

4.1%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.02008200920102011201220132014201520162017201820190 %1.2 %2.4 %3.6 %4.8 %6 %Highcharts.com

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