Meetings to be held from Nov. 7-Dec. 16

Landlords, farmers and agri-business professionals should make plans to attend one of the informative meetings being held across Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farmland rental rates are the largest input cost to the farmer. Determining a fair farmland rental agreement is always challenging.

Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau and Nathan Hulinsky, Extension educators in Ag Business Management, will provide several ways to determine a fair farmland rental rate for both parties; by examples, factsheets and worksheets.

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 rental agreement. Input costs for 2024 will be presented, along with current 2024 corn and soybean prices.  Worksheets will examine 2025 costs and what is affordable rent to pay in 2025, the rate of return to the landlord at current market values and examine flexible rental agreements.

Make plans to attend one of these meetings now. No pre-registration is required.  Attendees will receive several informative worksheets and factsheets.

The meetings will be held from Nov. 7 through Dec. 16, in Pipestone, Sandstone, Litchfield, Hutchinson, Melrose, Little Falls, Mankato, Alexandria, Preston, Caledonia, Buffalo, Owatonna, Faribault, Thief River Falls, Sleepy Eye, Madison, Olivia, Rochester, Albert Lea, Blue Earth, Gaylord, Slayton, Cologne, Jordan and St. Peter. 

For a complete listing of workshops, go to: extension.umn.edu/courses-and-events/farmland-rental-workshop.

Article contributed by University of Minnesota Extension