Recent survey results released by Iowa State University Extension and Outreach found that 55 percent of Iowa’s farmland is rented, mostly by cash rent arrangement. The average 2018 cash rental rates have stabilized at $222 per tillable acre after a decline of nearly 19 percent from the 2013 peak. However, determining a fair cash rental rate for 2019 could prove challenging as tenant operators face uncertainty of farm profitability, crop price outlook as well as potential farm bill provisions for next year’s crops.
The Story County Extension office will host a meeting on Friday, Aug. 3, beginning at 9 a.m., with doors open at 8:30 a.m. The location is at the Story County Extension office located at 220 H Ave, in Nevada. The meeting will last approximately three hours and will be facilitated by Steve Johnson, farm and agriculture business management specialist with ISU Extension and Outreach.
Emphasis will be placed on the results of surveys recently released on Iowa Farmland Ownership and Tenure as well as the 2018 Iowa Cash Rental Rates. Participants will increase their understanding of financial challenges with projections of 2018 crop supply/demand and cash prices outlook. The meeting will focus on various methods to determine a fair 2019 cash rental rate and the importance of good tenant/landlord communications.
Preregistration is required at least two days before the meeting and a $20 per individual or $30 per couple fee is payable at the door. Participants will receive a 100-page booklet and meeting handouts designed to assist landowners, tenants and other agri-business professionals with issues related to farmland ownership, management and leasing arrangements.
Contact the Story County Extension office at 515-957-5760 with your questions or to preregister on or before Wednesday, Aug. 1.