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Post-harvest makes prime time for farmland rental negotiations
Farmland rental rate negotiations are picking up as harvest winds down across the Midwest.
University of Minnesota Extension educator Nathan Hulinksy says many farmers like to wait until harvest is complete to negotiate rents for the following year.
“To get a more accurate representation of what the current crop year will look like in terms of yield (and) expected profit by the farmer.”
He tells Brownfield others want to settle terms as quickly as possible.
“Because I know I want this field next year no matter what this year will look like with weather and yield.”
Hulinksy says using accurate and reliable data is very important when determining fair rental agreements. He uses information from the university as well as USDA.
Minnesota Extension is providing free workshops on negotiating rental rates in November and December.
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