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Extension > Local Extension Offices > Benton > County Agriculture Educator > Articles > UMN Extension to Host Land Rent Meetings in Central Minnesota

UMN Extension to Host Land Rent Meetings in Central Minnesota

University of Minnesota Extension, Stearns County News
October 25, 2017        
           
Source:  Emily Wilmes, Extension Educator-Livestock
University of Minnesota Extension
Stearns, Benton & Morrison Counties


UMN Extension to Host Land Rent Meetings in Central Minnesota
By Dave Bau and Emily Wilmes, University of Minnesota Extension

ST. CLOUD, Minn. (10/25/2017) — Landlords, farmers, and agribusiness 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.  Farmer profits are low or negative and farmland rental rates have declined slightly while commodity prices have decreased significantly. Determining a fair, profitable farm rental agreement is a challenge in today’s economy.

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 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 farm land values and sales, and a worksheet that will help determine a fair rental agreement.  Input costs for 2018 will be presented along with current 2018 corn and soybean prices.  Worksheets will examine 2018 costs and what is affordable rent that a farmer will be able to pay in 2018 and the rate of return to the landlord at current market values.  Flexible rental agreements will also be examined. 

Make plans to attend one of these free meetings.  Attendees will receive the above-mentioned informative worksheets and factsheets that will help determine a fair 2018 farmland rental rate.

Area meetings will be held at the following locations:
Long Prairie on Thursday, November 16th at 9:30am at MN National Bank; 706 Lake St. S, Long Prairie

Little Falls on Thursday, November 16th at 1:30pm at the Initiative Foundation; 405 1st St. SE, Little Falls

Cold Spring on Friday, December 8th at 9:30am at the District Education Facility; 527 Main St, Cold Spring

Foley on Friday, December 8th at 1:30pm at Foley City Hall; 251 4th Ave N, Foley

For dates and times of additional meetings throughout the state, check out the Agricultural Business Management calendar on the web at: www.extension.umn.edu/agriculture/business/.

Contacts

Emily Wilmes
Extension Educator, Ag Production Systems - Livestock
(320) 255-6169
krek0033@umn.edu
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