Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held across Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farm land rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is a challenge in today’s economy with current low corn and soybeans prices in 2019.
Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. David Bau and Nathan Hulinsky, Extension Educators in Ag Business Management, will provide several ways; by examples, factsheets and worksheets to determine a fair farm land rental rate for both parties.
Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farm land values and sales, a worksheet that will help determine a fair rental agreement. Input costs for 2019 will be presented along with current 2019 corn and soybean prices. Worksheets will examine 2020 costs and what is affordable rent that a farmer will be able to pay in 2020, the rate of return to the landlord at current market values and examine flexible rental agreements.
Make plans to attend one of these meetings now. Attendees will receive several informative worksheets and factsheets that will help to determine what is a fair 2020 farm land rental rate is.
Meetings in Polk and Red Lake County will be held on Tuesday, December 17, 2019. We will start in Polk County at the NWROC Youngquist Auditoriom on UMC Campus at 2:30pm on Dec 17, and then move to Red Lake Falls at Joe DiMaggio’s for a 5pm meeting on Dec 17.
Questions contact: Nathan J Hulinsky, Extension Educator, Ag Business Management, U of M Extension Regional Office, St Cloud, 320-203-6104, huli0013@umn.edu
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