An informative meeting of interest to landlords, farmers and agri-business professionals will be held from 10 a.m. to noon Tuesday, Nov. 5 at Northwoods Bank in Park Rapids.

Free and open to the public, this class is sponsored and provided by the University of Minnesota Extension.

Farm land rental rates have started to lower, as corn and soybean prices continue to decline. Determining a fair farm rent agreement is a challenge in today’s economy, with current corn and soybean prices significantly lower compared to recent record prices and land values.

Negotiating a fair rental agreement that satisfies both the landowner and the farmer is a challenge. Nathan Hulinsky, U of M Extension educator in ag business management, will provide examples, factsheets and worksheets to determine a fair farm land rental rate for both parties.

Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farmland values and sales and a worksheet to help determine a fair rental agreement.

Input costs for 2020 will be presented along with current 2019 corn and soybean prices. Worksheets will examine 2020 costs and the rent a farmer will be able to pay in 2020, the rate of return to the landlord at current market values and flexible rental agreements.

To register, contact the Hubbard County Extension office at 732-3391 or email sshearer@umn.edu.