Free courses on farmland rental rates to be held this fall – Perham Focus

PERHAM — The University of Minnesota Extension will host several freefall meetings across the state regarding farmland leasing information. Determining a fair agricultural lease agreement is a challenge in today’s economy with the current high corn and soybean prices in 2022.

Negotiating a fair lease that satisfies landowner and farmer can be a challenge. Farm Business Management Extension Educators David Bau and Nathan Hulinsky will provide several ways, including examples, fact sheets and worksheets, to determine a fair farmland rental rate for both parties. .

Topics covered at the meetings will include historical and projected local trends in farmland rental rates, current farmland values ​​and sales, and a worksheet that will help determine a fair rental agreement. Input costs for 2022 will be presented with current corn and soybean prices in 2022. Worksheets will look at 2023 costs, affordable rental rates for farmers, rate of return to owner at current market values and review flexible tenancy arrangements.

The workshop program is available in October at extension.umn.edu. After the in-person workshops on farmland rental rates, there will be several online sessions. Starting in January 2023, there will be multiple virtual sessions across the state.

The majority of the papers presented at the workshops can be found at extension.umn.edu/business/farmland-rent-and-economics.

FINBIN database trends show Minnesota rental costs increased 4.6% from 2020 to 2021. Average USDA Minnesota statewide farmland rents increased 4.5% from 2021 to 2022. This data could be a way to plot a trend for 2023 rents.

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