Farm land rental rates have started to lower as corn and soybean prices stagnate. Determining a fair farm rent agreement is a challenge in today’s economy.
University of Minnesota Extension educators will offer free meetings to help landlords, farmers and agri-business professionals set prices.
The East Central Minnesota Land Rent meeting will be held on Monday, Dec. 9, from 1:30-3:30 p.m. at Rock Creek City Hall, 7080 MN-70, Pine City.
Attendees will receive several informative worksheets and factsheets to help to determine what is a fair 2020 farm land rental rate.
RSVP to Rod Greder at 763-689- 8254 or email@example.com.
Nathan Hulinsky, Extension Educator in Ag Business Management, will cover 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 2019 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 will be examined.