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Showing posts from December, 2017

Revised version of "Ag Income Tax Update for Farm Families" is now available

By Rob Holcomb A revised version of Ag Income Tax Update for Farm Families  is now posted on the University of Minnesota Extension website. This revised version addresses farm tax issues that will impact producers for the 2017 income tax year. The recently passed tax reform has a very limited effect on a producer’s 2017 tax return. I’ve confined the discussion in this document to what matters for 2017. I will address the components of the new tax reform legislation later in the spring. Please feel free to contact me via email if you have any questions. My email address is: I wish everyone a safe and prosperous new year!

Cropland Rental Rates Compared to Corn and Soybean Price Change

By David Bau, Extension Educator In Table 1 below I compare the changes in average farmland rental rates to the annual changes in corn and soybean prices. I did to determine how closely farmland rental rates follow the changes in corn and soybean prices. Column 1 lists the years used for comparison starting in 2000 going through 2016.  Column 2 lists the average cash corn price each year in Worthington Minnesota. Column 3 lists the average cash soybean price in Worthington. Column 4 lists the change in the average corn and bean prices from the previous year. Column 5 is the average rents paid by roughly 1200 farmers each year who participate in adult farm management programs across southern Minnesota. Column 6 uses the previous year’s average rent in column 5 multiplied by the following year’s change in corn and soybean prices to compute a projected rent and does that for each year. Column 7 starts with the average rent in 2000 in Column 5 of $98.31 and multiplies this number by