OWATONNA, Minn. — Landlords, farmers, and agribusiness professionals are invited to attend one of the informative land rent meetings being held across Minnesota. These free meetings are provided by the University of Minnesota Extension Agriculture Business Management Team.
Farm land rental is one of the largest input costs a farmer has, and determining a fair and profitable farm rent agreement which satisfies both the landowner and the farmer can be challenging. University of Minnesota Extension’s Land Rent Meeting can help guide your decisions.
David Bau, Extension Educator in Ag Business Management, will provide guidance for determining a fair rental agreement through examples, factsheets, county and statewide rental averages, and worksheets.
Topics covered at the meetings will include historic and projected farmland rental rate trends, current farm land values and sales, input costs, corn and soybean prices, and personalized worksheets. Input costs for 2021 will be presented along with current 2021 corn and soybean prices. Worksheets will examine 2022 costs, determine affordable rent that farmers will be able to pay in 2022, the rate of return to the landlord at current market values, and examine flexible rental agreements.
Make plans to attend one of these informative meetings. Attendees will receive several educational worksheets and factsheets that will help determine a fair farm land rental rate for 2022.
The free meetings will be held locally at:
Rice County 4-H Building, 1900 Fairgrounds Dr. #17, Faribault, MN
Monday, November 22, 9:30- 11:30 am
Steele County Community Center, 1380 S. Elm Street, Owatonna, MN
Monday, November 22, 1:30- 3:30 pm.
Please register ahead of time. You can register for the Faribault location at z.umn.edu/LandRentRiceCo, Owatonna location at z.umn.edu/LandRentSteeleCo, or contact Claire LaCanne at firstname.lastname@example.org or 507-330-0447.
— University of Minnesota Extension