Leasing Farm Land - KXNet - Bismarck/Minot/Williston/Dickinson

Leasing Farm Land

About two-thirds of the farm land in North Dakota is leased by the farmer who's doing the work.

That's according to NDSU Extension officials.

And that high percentage of leased farmland is one reason

NDSU is holding dozens of meetings around the state this winter, to go over the best strategies for land leases - both by the landowner and the operator.

Andrew Swenson, a farm management specialist based in Fargo, says operators and owners are being urged to set up flexible agreements that are based on production and prices - as a way to protect both parties to the deal.

He says the price being paid for leases is up quite a bit in recent years - following price trends for land values and farm commodities.

(Andrew Swenson, NDSU Farm Management Specialist) "Profitability for farm production the past few years has been very strong for the past six years and crop prices remain on the high side going forward for 2013 and that profit has increased the ability of operators to bid for land and that's been the primary reason."

Swenson says another major factor in higher lease rates is the continued low interest rates in financial markets.

Farmland lease workshops are scheduled for next Tuesday in Carrington, Wednesday in Bowbells, and Thursday in Rugby.