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Fair farm rental agreements discussed at upcoming informational meetings [UPDATED]
Published 9:35am Friday, November 16, 2012 Updated 11:42am Friday, November 16, 2012Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held across Central and Southern Minnesota. These free meetings are being provided by the University of Minnesota Extension. 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.
Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. David Bau, Extension Educator in Ag Business Management, will provide several ways; by examples, factsheets 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 factsheets that will help to determine what is a fair and profitable 2013 farm land rental rate is.
There is no charge for this one to one and a half hour meeting. The meeting will be held at 10:30 a.m. Thursday, Nov. 29, at the Otter Tail Power Company, 216 S Cascade Ave., Fergus Falls (park in Shopko/old Pamida parking lot or on street). No pre-registration necessary.
The same presentation will be given the same day in Alexandria at 2 p.m., Douglas County Public Works Building, 526 Willow Dr.
Questions may be directed to Jan at the county Extension Office, Fergus Falls, 218-998-8760 or email: broob001@umn.edu
