Landlords, farmers, and 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 have started to lower as corn and soybean prices continue lower in 2017. Determining a fair farm rent agreement is a challenge in today’s economy with current significantly lower corn and soybeans prices in 2017 compared to recent record corn and soybean prices and record farm land values.
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 2018 will be presented along with current 2018 corn and soybean prices. Worksheets will examine 2018 costs and what is affordable rent that a farmer will be able to pay in 2018, the rate of return to the landlord at current market values and examine flexible rental agreements.
The meeting last two hours and will be held in the following locations;
• St. Charles: City Hall, 830 Whitewater Ave at 9:30 am on November 15
• Rochester: Heintz Center, 1926 College View Road SE, room HB117 at 1:30 p.m. on November 15
• Caledonia: Criminal Justice Center, 306 South Marshall St. at 9:30 a.m. on November 16
• Preston: Fillmore County Office Building, 902 Houston St. NW at 1:30 p.m. on November 16
If you have any questions about these programs, contact Mike Cruse, Extension Educator in Houston County (507) 725-5807 and Fillmore County (507) 765-3896), or Jake Overgaard, Winona County Extention Educator at (507) 457-6440).