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Extension > Local Extension Offices > Murray > County Agriculture Educator > Articles > Fair farmland rental agreement workshop in Slayton on November 3

Fair farmland rental agreement workshop in Slayton on November 3

Landlords, farmers, and agri-business professionals should make plans to attend one of the informative meetings being held in southwestern Minnesota.  These free meetings are being provided by the University of Minnesota Extension.  Farmland rental rates have never been higher, and determining a fair farm rental agreement is a challenge in today’s economy when factoring in record corn and soybean prices, record farmland values, and significantly lower commodity prices since 2014.

Negotiating a fair rental agreement that satisfies the landowner and the farmer is challenging.  David Bau, Extension Educator in Agricultural Business Management, will provide several ways to help with rental rate discussions; 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, and a worksheet that will help determine a fair and profitable 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, the rate of return to the landlord at current market values, and examine flexible rental agreements.

Attendees will receive several informative worksheets and factsheets to help determine a fair 2018 farmland rental rate.  First National Banks of Slayton and Fulda are sponsoring morning refreshments at the Slayton meeting on November 3 starting at 9:30 a.m. at the 4-H Building on the fairgrounds in Slayton.  The same program will be held on December 19, 9:30 a.m., at the Emergency Management Building, 811 5th St SE, Pipestone.

Make plans to attend a farmland rental workshop this fall for current numbers.  Check out the Agricultural Business Management calendar for schedule of the all 43 rental workshops at across the state at: http://www.extension.umn.edu/agriculture/business/ for specific times and locations.

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