Farmland rental rates are among the most important factors Minnesota farmers must take into account as they determine what side of the ledger they’ll end come out on in any given year.
University of Minnesota Extension has released a five-year analysis of farmland rental rates, indicating small drops in rental prices in most parts of the state.
“However, rental rates are staying strong compared to prices for corn and soybeans,” noted Extension ag business management educator David Bau.
Rates were highest across the southern third of the state, with rent reaching $290 per acre at the high end. More detail, by county, is in the full report.
Extension’s analysis was carried out using data from FINBIN, a tool developed and maintained at the University of Minnesota. FINBIN is one of the world’s largest and most accessible sources of farm financial and production benchmark information. The database makes detailed reports on whole farm, crop and livestock financial data available to the public.
Source : umn.edu