Trends and types of current farmland lease models will be the subject of a panel discussion during the 2012 Illinois Land Values Conference to be held March 22 at the Parke Hotel and Conference Center here. The event is being sponsored by the Illinois Society of Professional Farm Managers and Rural Appraisers.
“The continuing rise in the cost of productive farmland, along with the volatility in the prices being paid for commodities, has resulted in some real creativity in the types of farmland rents and leases that are being drawn up between land owners and tenants,” says Don McCabe, AFM, overall chairman of the annual Land Values project put on by the Society. “We know there is a tremendous amount of interest in what’s being paid across the fence and down the road, so we’ve put together a group of professional farm managers who will address the subject during this year’s conference,” he says.
He says the panel will provide a broad overview of lease trends including what is changing, why, and what is coming down in the future. “The three will also represent a spread in geography from around the state,” McCabe notes. Points to be addressed will included important things that need to be in leases, percent changes in cash rent values, and a look at how land values have influenced cash rents paid in the past two years.
Moderating the panel will be Timothy Harris, AFM, with Capital Agricultural Property Services in Princeton. Panelists will be Ed Kiefer, AFM, ARA, with Hertz Farm Management in Geneseo, and Doug Greiner, AFM, with Farmers National Company, Carlock. “The three have years of experience with all kinds of leases, crops, tenants and owners,” McCabe says.
Other subjects on the half-day seminar include a presentation by Nick Paulson, assistant professor in agriculture and consumer economics at the University of Illinois, on anticipated changes in a new Farm Bill. “Land investments from a global perspective” will be the subject of a presentation by Adrian Fay, Midwest AgriBusiness innovation network/grower in central Illinois and South America.
“The morning will wrap up with a presentation of the results of the 2012 Farmland Values and Lease Trends Report. Everyone attending the morning program will receive a copy of the printed report,” he says.
Reservations to attend the event are not required but there is a $40 registration fee which must be paid at the door. The program begins at 8 a.m. and ends at noon.