Determining a fair farm rent agreement is a challenge in today’s turbulent farm economy. Landlords, farmers, and their advisors from the area should make plans to attend a free workshop from 9-11:30 a.m. on Nov. 23 at the North Pine Government Center in Sandstone.
Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. Extension Educators in UM Extension’s 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, and a worksheet that will help determine a fair rental agreement. Input costs for 2022 will be presented along with projected 2022 corn and soybean prices. Worksheets will examine costs and what is an affordable rent that a farmer will be able to pay in 2022, the rate of return to the landlord at current market values and examine flexible rental agreements.
Contact the Pine County Extension office at 320-591-1650 or email firstname.lastname@example.org for more information.