Strong commodity prices and high production costs have made it more difficult for operators and landowners to successfully determine appropriate farmland lease arrangements.
Landowners, renters and other agribusiness professionals with an interest in farmland ownership, management and leasing should plan on attending one of nine farmland leasing workshops across North Dakota presented by the North Dakota Extension Service.
The workshops are offered to help landowners and renters identify and manage the risk associated with rental arrangements. Dwight Aakre and Andy Swenson, Extension farm management specialists, and Willie Huot, Grand Forks County Extension agent, will be the main presenters.
The workshops are approximately three hours long. One of the topics is a historical perspective on farmland values and rents, with emphasis on causal factors and future risks. Concepts and practical examples of how to determine equitable rents also will be presented.
The main session will help participants better understand different rental arrangements, such as cash rent, share rent and flexible cash rent.
“There has been increased interest in flexible cash rental arrangements,” Swenson says. “This session will show how a flexible cash rent agreement can be designed to try to meet the desired income and risk levels of both the landowner and renter. Examples of various methods of adjusting the cash rent level will be discussed.”
There will be a session on how producers can improve their land rental negotiations by enhancing the communication process with landowners. This includes the use of resumes, portfolios and frequent communication to keep landowners informed and educated about the operation and vision for a particular tract of land. Some communication pieces will be showcased as examples.
Dates and locations of the workshops are:
- Jan. 30 – Drake, Knights of Columbus Club, 1 to 4 p.m.
- Feb. 13 – Carrington Research Extension Center, 1 to 4 p.m.
- Feb. 15 – Lisbon, Ransom County Courthouse Community Room, 1 to 4 p.m.
- Feb. 17 – Cooperstown, Country Club, 9 a.m. to noon
- Feb 22 – Watford City, McKenzie County Courthouse, 1 to 4 p.m.
- Feb. 23 – Stanley, Mountrail County Extension Office, 9 a.m. to noon
- Feb. 24 – Minot, North Central Research Extension Center, 10 a.m. to 1 p.m.
- Feb. 28 – Bismarck State College Career Academy Building multipurpose room, 9 a.m. to noon
- Feb. 29 – Jamestown, Farmers Union state office, 1 to 4 p.m.
Contact your county NDSU Extension agent for more details.