|
Farmland Leasing 2017
BENTON, ILL.
November 1 is the traditional deadline for making changes to farmland leases for 2017. In light of declining farm incomes, landowners and farmers will be evaluating their leases for 2017. According to information from the Illinois Ag Statistic Service and University of Illinois Extension, about half the leases in Illinois are cash leases. The other half of leases are made up of crop share, custom, and hybrid combinations. Of the cash leases about one in five have a bonus feature that adjusts lease payments based on selected parameters.
“There is a lot to look at this year” says Ruth Hambleton, Farm Management Instructor for Southern Illinois University, Carbondale. “Those with cash leases will need to evaluate the payments, especially since lower revenues means possible lower cash rents.” “Crop share leases will need to be evaluated for lower revenues overall as prices decline and input costs are slower to adjust.”
“I receive various calls involving cash lease agreements regarding disputes between landowners and tenants. We will try to address some of these examples and what suggestions I made”, says Marc Lamczyk, U of I Extension Program Coordinator, Unit 26.
In order to assist landowners and farmers make solid decisions about their future agreements a coalition of Jackson County Farm Bureau, Southern Illinois University Carbondale(SIU-C), University of Illinois Extension, Franklin/Jacks on/Perry/Randolph/W illiamson Unit, and Annie’s Project – Education for Farm Women is hosting a 90-minute program, Farmland Leasing 2017 on October 25, 2016 starting at 6:00 p.m. at the SIUC campus Ag building in Carbondale. Topics that will be covered include a review of the economic conditions for 2017; budgets for crops and livestock; general leasing trends for crops, pastures, buildings and grain storage, and methods to adjust cash leases for current economic conditions. Presenters will be Ruth Hambleton, Farm Management Instructor for SIUC, and Marc Lamczyk, Illinois Extension Program Coordinator, Small Farms and Local Food Systems for Franklin/Jackson/Perry/Randolph/Williamson Unit.
SIU students attend free; a five-dollar cover charge per farm will be collected at the door and go to the students’ Agribusiness Club to support their activities for the year. Please register by calling the Jackson County Farm Bureau, (618) 684 3129 or go online http://tinyurl.com/farmland-leasing-2017
This event is open to everyone interested in the topics offered. ∆
|
|