Farm operators bidding on new land parcels available for cash rent need to check costs and projected breakeven yields and prices carefully. So says Kent Thiesse, Blue Earth County, MN, extension educator.
“It's important to account for all cash and overhead costs of renting the extra land. There may be times when a farm operator is better off to let someone else rent the land rather than pay a high cash rent,” says Thiesse.
Average land rental rates for 2002 are likely to stay steady with 2001 rates, according to the annual land rental survey in south-central Minnesota, conducted by the University of Minnesota Extension Service.