How Much Rent Should You Charge for Southern Minnesota Farmland?
Farmers who rent land and those who rent out their farmland are often in a quandary as to what a fair rental rate should be. There will be a meeting on Tuesday, November 29, at 1PM at the Steele County Community Center in Owatonna to address this question. The meeting should last about two hours. This is a free meeting provided by the University of Minnesota Extension. Recently, farm land rental rates have started to drop as corn and soybean prices continue to fall in 2016.
Present will be Extension educators David Bau, Pauline Van Nurden, Gary Hachfeld and Nathan Hulinsky.
Topics to be addressed include local historic and projected farmland rental rate trends along with current farm land values and sales. There will also be a worksheet that will help determine a fair rental agreement. Input costs for 2017 will be presented along with current 2017 corn and bean prices.