Land Rent Meetings
What's a Fair Rental Rate? That is a question farmers, landowners, Ag Bankers and other Ag Business ask at this time of year. Land rent is the biggest cost that a farmer has and with low corn and bean prices it is a tough topic. It sure has helped that in the last month or so we have seen a nice rally in corn and beans plus, for the most part very good yields too! Again this year the University of Minnesota Extension Service will be holding Land Rent Meetings.
Extension Educator in Rice and Steele County Claire LaCanne told me there will be an in person Land Rent Meeting in Owatonna on November 19, 2020. Typically Claire would have one in Northfield too but not this year because of the pandemic. If you would like to attend the in person Land Rent meeting let Claire know at the Rice and Steele County Extension office. Due to social distancing requirements there are strict limits on the number that can be at the meeting.
The University of Minnesota Extension Service will also be hosting a number of virtual Land Rent Meetings. Go to the Rice and Steele County Extension website for the dates and times of those meetings. Claire also had on the website the average cash rent per county in Minnesota for the past few years. You have to take cash rents that you hear with a "gain of salt."
When you hear of a land rental agreement there are many things you do not know. Was it highly productive land that was well tiled or more marginal land? Did the rent include the use of grain bins, machine shed or livestock buildings? There are many factors in the contract that you may not know!
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