FARIBAULT -- The University of Minnesota Extension agriculture business management team will conduct two information meetings on Nov. 22 about farm land rental.
Landlords, farmers, and agribusiness professionals are invited.
Farm land rental is one of the largest input costs a farmer has, and determining a fair and profitable rent agreement which satisfies both the landowner and the farmer can be challenging.
David Bau, Extension educator in ag business management, will have examples, fact sheets, county and statewide rental averages, and worksheets that can help come to a fair rental agreement.
The meetings also will cover historic and projected farmland rental rate trends, current farm land values and sales, input costs,and corn and soybean prices. Worksheets will examine 2020 costs, determine affordable rent that farmers will be able to pay in 2020, the rate of return to the landlord at current market values, and examine flexible rental agreements.
In Faribault, the meeting will be from 9:30 to 11:30 a.m. Nov. 22 at the Rice County 4-H Building, 1900 Fairgrounds Drive. In Owatonna, the meeting will be from 1:30 to 3:30 p.m. at the Steele County Community Center, 1380 S. Elm St.
RSVPs are appreciated, but walk-ins are welcome. Contact Madison Tebay at firstname.lastname@example.org or (507) 444-7686 if you plan to attend either meeting.