What is Fair Farm Rental Rate for 2019?
What is a fair farm rental rate for 2019? That is a tough question to answer especially in a time of low commodity prices. It seems when corn and bean prices are high farm rental rates go up quickly. Prices can drop quickly but it seems farm rental rates go down much slower. The University of Minnesota Extension service will be hosting a number of workshops to help farmers and landlords determine a fair rental agreement.
The workshops will be held weekly on Wednesdays beginning on January 16th in Rochester followed by Waseca, Worthington, Wilmar, Morris, Farmington and Lamberton. There will be two workshops each day at each location. The first will be at 9:30 am and the second at 1:30 pm. David Bau, Extension Educator in Ag Business Management will provide several ways to determine what is a fair land rental rate for the farmer and land owner.
David does a good job of using examples, historical trends, land values, worksheets, corn and soybean input costs and current prices. You do not have to pre-register and the workshops are free. For more information go to the web site: https://extension.umn.edu/business/ag-business-management-event-offerings.