Cropland Rental Tool (CROPRENT)
Producers are faced with a variety of cropland rental options; however, most existing decision tools are programmed for corn, soybeans, and wheat.
- Flexible cash rents are one option.
- Tenants and landowners share in the risk associated with volatile commodity prices and uncertain yields.
- Requires good communication between tenant and landowner.
- Must agree on base cash rent/yield/price, minimum/maximum rent, method to determine actual yield/price.
- Excel-based decision tool that can be used by tenants/landowners to:
- Project rental options as part of the planning/budgeting phase;
- Negotiate with landowners/tenants; and
- Finalize actual rent at harvest if using a flexible cash rent option.