ST. CLOUD, Minn. — Landlords, Farmers, and Agri-Business Professionals should make plans to attend one of the informative land rent meetings being held across Central Minnesota. These free meetings are offered by University of Minnesota Extension. Farm land rental rates are the largest input cost and a fair farm rent agreement is a challenge in today’s economy with current corn and soybeans prices in 2019.
Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. Nathan Hulinsky, Extension Educator in Ag Business Management, will provide several ways, by examples, factsheets and worksheets to determine a fair farmland 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, 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 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 a fair 2020 farm land rental rate is.
Area meetings will be held at the following locations:
— Long Prairie on November 12th at 9:30am at Long Prairie City Hall; 615 Lake St S, Long Prairie, MN 56347
–Little Falls on November 12th at 1:30pm at the Little Falls City Hall; 100 7th Ave NE, Little Falls, MN 56345
–Cold Spring on November 26th at 9:30am at Granite Community Bank; 202 2nd Ave S, Cold Spring, MN 56320
–Foley on November 26th at 1:30pm at Foley City Hall; 251 4th Ave N, Foley, MN 56329
— Emily Wilmes, University of Minnesota Extension
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