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Showing posts from January, 2019

Southwestern Minnesota Farmland Values Increase 3.0 percent in 2018

By David Bau, Extension Educator

At the end of each year for the last twenty-four years, a survey has been conducted of farm land sales in fourteen southwestern Minnesota counties. The survey reports bare farm land sales to non-related parties for the first six months of each year. Land values had been steadily increasing until 2014.  After reaching record high prices in 2013, the upward trend was broken as prices declined in 2014 and continued down through 2017.  The trend changed to an increased in 2018.  The summary report for this survey is available at the county extension offices in Chippewa, Cottonwood, Jackson, Lac qui Parle, Lincoln, Lyon, Martin, Murray, Nobles, Pipestone, Redwood, Rock, Watonwan and Yellow Medicine Counties.  This year the increase across the fourteen counties averaged 3.9%.  Average land values had not increased since 2013 when the average SW Minnesota land prices peaked at $8,466 per acre then declined in through 2017 to $6,340 until increasing in 2018 to…

Farm Resource Guide Available

By David Bau, Extension Educator

The Farm Resource Guide for 2019 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 rates: What to charge for planting etc.Average farmland rental rates by county: From two sources with projections for 2019.Flexible Rental Agreements: Examples of how they work and how they have worked in past.Lease forms for Cash Rent and Share Rent arrangements: Which you can fill in the blanks.Farmland sales information for all counties in Minnesota: Lists current average ag sales.Information on charges for custom feeding, commodity storage, leasing buildings and various bin rental rates: List various costs like leasing a dairy barn and machine storage. Current information on pasture rental rates, tree timber values: List pasture rates and timber sales.Marketing information along with recent cost tre…

Today's Challenge is to Determine what is a Fair Farm Rental Rate for 2019

By David Bau, Extension Educator

Farmland rental rates are slow to go up in good times and slow to go down in poor times.
Based on corn and soybean prices the farm economy is in a poor time. Extension is hosting a set of workshops to help farmer and landlord determine a fair farmland rental agreement for 2019.

Landlords, farmers, and agri-business professionals should make plans to attend one of the informative meetings in January and February across Central and Southern Minnesota. These free meetings are being provided by University of Minnesota Extension. The workshops will be held weekly on Wednesdays starting January 16th in Rochester followed by Waseca, Worthington, Willmar, Morris, Farmington and finishing in Lamberton, February 27, 2019.

There will be two workshops each day at each location. The first session will start at 9:30 am followed by an afternoon session starting at 1:30 pm.  In case of bad weather, the following Thursday is the snow date for each location.  Call the f…