November 5, 2012
Landlords, farmers, agri-business professionals should make plans to attend one of the informative meetings being held across central and southern Minnesota that will focus on farm rental agreements.
The University of Minnesota Extension is hosting the free meetings.
Farm land rental rates have never been higher and determining a fair and profitable farm rent agreement is a challenge in today's economy with near record corn and soybean prices and record farm land values.
What Is A Fair And Profitable Farm Rental Agreement?
Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge, says David Bau, Extension Educator in Ag Business Management. He will present information that 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 farm land values and sales, a worksheet that will help determine a fair and profitable rental agreement. Input costs for 2013 will be presented along with current 2013 corn and soybean prices. Worksheets will examine 2013 costs and what is affordable rent that a farmer will be able to pay in 2013, the rate of return to the landlord at current market values and examine flexible rental agreements.
Attendees will receive several informative worksheets and fact sheets that will help to determine what is a fair and profitable 2013 farm land rental rate is.
The meetings will be held at several locations throughout Southern and Central Minnesota:
-Blooming Prairie, Nov. 8, 10:00 AM, Blooming Prairie City Center, 138 Highway Avenue South
-Northfield, Nov. 8, 2:00 & 3:30 PM, Northfield Public Library, 210 Washington Street
-North Mankato, Nov. 9, 9:30 AM, Police Annex, 1001 Belgrade Ave.
-Lafayette, Nov. 9, 2:00 PM, Lafayette Community Center, 540 7th St.
-Hutchinson, Nov. 14, 9:30 AM, McLeod County Fairgrounds Commercial Building, 840 Century Ave. SW.
-Buffalo, Nov. 14, 1:30 PM, Wright County Courthouse, 10 2nd St. NW Room 402
-Cologne, Nov. 15, 10:00 AM, Carver County Extension Office, 11360 Highway 212 West
-Jordan, Nov. 15, 1:00 PM, Scott County Extension Office, 7151 190th Street West
-Litchfield, Nov. 16, 10:00 AM, Meeker County Courthouse Community Room A & B, 325 Sibley Avenue North
-LeCenter, Nov. 28, 10:30 AM, 4-H Building Le Sueur County Fairgrounds, Hwy 99
-Lake Crystal, Nov. 28, 2:00 PM, American Legion Post 294, County Road 20 South
-Slayton, Dec. 11, 1:00 PM, Courthouse Meeting Room, 2848 Broadway Ave.
-Pipestone, Dec. 13, 10:00 AM, Minnesota West Room 127, 1314 North Hiawatha
The meetings are designed to assist land owners, farmers, and agri-business professionals with farm financial issues related to farmland rental rates, ownership, management, leasing agreements, and related issues.
The meetings, with presentations given by Bau, will last approximately two hours. For more information, please contact him at 507-360-0664 or email [email protected]
In case of inclement weather, please call the Farm Information Line at 1-800-232-9077.
Source: U-M Extension
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