WORTHINGTON — Landlords, farmers and agribusiness professionals are invited to attend an upcoming session on farmland rental rates. The free meetings, provided by University of Minnesota Extension, are planned across Minnesota with opportunities to participate in-person or virtually.
Farmland rental rates are the largest input cost the farmer has. Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau, Nathan Hulinsky and Amber Roberts, Extension Educators in Ag Business Management, will present several examples, fact sheets and worksheets to determine a fair farmland rental rate for both parties.
The meetings will cover local historic and projected farmland rental rate trends, current farmland values and sales, and a worksheet to help determine a fair rental agreement. Input costs for 2020 will be presented along with the current 2020 corn and soybean prices. Worksheets will examine 2021 costs, affordable rents for farmers in 2021, the rate of return to the landlord at current market values and flexible rental agreements.
This year, in-person meetings are offered Nov. 18 and Dec. 16 in Slayton, and Dec. 3 in Worthington, while a regionally focused online Zoom meeting is planned at 10 a.m. Dec. 15 from Worthington. Pre-registration is required, as there will be limited seating for the in-person meetings, and facemasks will be required to be worn.
To register, or to view a complete schedule of meeting locations, dates and times, visit https://z.umn.edu/LandRentRegistration.