On my operation, I have a mix of owned and rented land. The benefit of owned land is that you have a lot more stability. You have the ability to use it to finance other things, and once you have some of it paid off, you have some equity there. You also know for sure that you're going to have it 10 or 20 years in the future, so you can do some long-range planning. With rented land, the person you're renting it from could pull it away at any time. That makes it a little more difficult to plan out. To me, it's critical to own at least some of the land. The model it's moving toward is probably more of a combination of owned and rented land, I think.
On May 2nd, 2017. See this statement in context.