Landlords, farmers, agri-business professionals should make plans to attend one of the informative meetings being held across Minnesota and online. These free meetings are being provided by 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.
Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau, Nathan Hulinsky and Amber Roberts, Extension Educators in Ag Business Management, will provide several ways - by examples, fact sheets 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 farmland values and sales and a worksheet that will help determine a fair rental agreement. Input costs for 2020 will be presented along with current 2020 corn and soybean prices. Worksheets will examine 2021 costs and what is affordable rent that a farmer will be able to pay in 2021, the rate of return to the landlord at current market values and examine flexible rental agreements.
This year there will be 14 in-person meetings from Nov. 18 through Dec. 18 in Slayton, Owatonna, Rochester, Holdingford, Little Falls, Benson, Worthington, Buffalo and Sleepy Eye. These sites will have limited seating and facemasks will be required to attend. You will need to preregister for all in-person meetings at https://z.umn.edu/LandRentRegistration.
There will be regionally focused online zoom meetings Dec. 1 St. Cloud, Dec. 2 in Moorhead, Dec. 4 in Farmington, Dec. 7 in Hutchinson, Dec. 8 in Willmar, Dec. 9 in Rochester, Dec. 14 in Mankato and Dec. 15 in Worthington. To register for these events, sign up online at: https://z.umn.edu/LandRentRegistration.
Start times for most meetings is 10 am. For a complete listing and schedule go to https://z.umn.edu/LandRentRegistration.