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Showing posts from January, 2018

Comparing Corn and Soybean Cash Prices with Average Southern Minnesota Farmland Rental Rates

By David Bau, Extension Educator

The average cash price for corn and soybeans each calendar year since 2000 is listed in Table 1 below.  Columns 2 and 3 list the average cash prices each year in Worthington for corn and soybeans.  The Column 4 lists the average percent change in corn and soybean prices from the prior year.  Column 5 lists the average rent paid by 1200 farmers in Southern Minnesota who are part of an Adult Farm Management Programs.  Column 5 multiplies the price percent change by previous year’s actual average rents to determine the farmland rent each year.  Column 7 starts with the average rent $98.31 in 2000 and then multiplies this by the corn and soybean price change (-3.21) to determine a rental rate of $95.16 for 2001.  To determine the 2002 rental rate, start with the 2001 rate of $95.16 and multiply this by the price change (15.06) and to determine an average rent of $109.49 for 2002.  This process was repeated to determine rentals rate through 2017. There are …

Farm Resource Guide Available

By David Bau, Extension Educator

The Farm Resource Guide for 2018 is now available at many University of Minnesota Extension County offices across the state.  This resource guide includes a wide variety of useful farm business management information including the following items:

Custom ratesAverage farmland rental rates by countyFlexible Rental Agreements It includes lease forms for Cash Rent and Share Rent arrangementsFarmland sales information for all counties in MinnesotaInformation on charges for custom feeding, commodity storage, leasing buildings and various bin rental rates Current information on pasture rental rates, tree timber valuesMarketing information along with recent cost trends for MinnesotaCommodity price probabilities for corn, soybeans, alfalfa hay, straw, grass hay, hogs and cattleCorn and soybean yields by county Feedlot Rule Highlights and information on Manure Agreement and Easements Examples of Manure Spreading Lease and Land Application Agreement forms
This Re…