More than half of Iowa farmland is rented, and the percentage of farmland rented has increased over time due to the changing demographics of farmland owners. Iowa farmland cash rental rates decreased by $10 an acre from 2013 to 2014; east central Iowa cash rental rates decreased by 3.9 percent in 2014. Additionally, farmland values have increased by 10.8 percent in east central Iowa from 2012 to 2013, but have leveled off in the first quarter of 2014.
Iowa State University Extension and Outreach offices across east central Iowa are hosting farmland leasing meetings from August 6 through August 21 at selected locations. These meetings will address questions that land owners, tenants, or other interested individuals have about farmland leasing. Locations include Welton at 1:30 p.m. on August 6, Muscatine at 1 p.m. on Aug. 18 and Tipton at 6 p.m. on Aug. 20. Meetings are approximately 2 ½ hours in length.
Attendees will gain understanding of current cash rental rate surveys and factors driving next year's rents such as market trends and input costs. They will learn about types of leases and results of farmland value surveys. Additionally, information on 2012 Census of Agriculture, 2014 Farm Bill, CSR2, and Nutrient Reduction Strategy will be presented. A 100-page workbook will be included with registration that includes land leasing information such as surveys, sample written lease agreement and termination forms, and many other publications.
"Due to changes in commodity markets, cash rent values, and government programs farmland owners and tenants may have more decisions over the next year than in previous years, and this meeting provides information to stay up to date on farmland lease issues", says Ryan Drollette, ISU Extension and Outreach Farm and Ag Business Management Specialist. Drollette will be the presenter at the meeting.
Registration is $25 per individual and $40 per couple. A $5 late registration fee will be charged if registering less than two calendar days before the workshop. Pre-register and find out additional meeting and location details by calling the corresponding local county extension office for the desired meeting location.
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