Not sure how to determine what a fair cash rent price is for the 80 acres of cropland just down the road? Then, consider using FairRent software to help you answer that question.
The software, which was developed by the Center for Farm Financial Management at the University of Minnesota, also can be used to determine:
If the cash rent cost can be covered if prices go down.
If the cash rent cost can be covered if yields are less than planned.
What yield you need to break even.
FairRent 4.0 has been updated to include the latest information from the 2002 Farm Bill, which may affect cash rents. For more information, call (800) 234-1111.