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2013 Farm land leases; Cash Rent & Hybrid Leases

Now is the time dictated by Iowa law to begin negotiating crop land leases for 2014 or at least notify your tenant/landlord, as the case may be, if you wish to change any of the terms in your current lease. (Remember that mutual consent is required if you want to make changes in the middle of a multi-year lease.)

If you wish to terminate a cropland lease ending March 1, 2014, and have not already done so, you must serve notice in the manner set out in Iowa Code §562.7 on or before September 1, 2013. This statute does not apply to forage land leases (pasture and hay) or custom farming arrangements, but by tradition, many farm operators have come to expect notice by September 1.

Basing cropland rent on the CSR (“corn suitability rating” or in some regions “crop suitability rating”) of the soil in question is the most accurate and fair way to arrive at a comparable rent [See Computing a Cropland Cash Rental Rate: http://www.extension.iastate.edu/Publications/FM1801.pdf]. As Hertz Farm Management, Inc., has noted, cash rental rates have tended to lag behind the run up in farm land prices [http://www.hfmgt.com/newsletter/pdf/2013summer.pdf]. Below is a table of farmland values and cash rents from last year's ISU surveys in counties for which I prepare farm land leases:

Hybrid Leases

There is considerable interest in deviating from the traditional cash rent model. By using a formula, tenants and landlords can avoid the often stressful exercise of negotiating a new rental rate every few years in order to keep up with changing economic circumstances. Flex lease formulas can also allow landlords to participate in windfalls during good years and tenants to reduce risk in bad, although current crop insurance revenue products go a long way in protecting farm operators from price and production risk.

There is also considerable interest in addressing soil conservation issues; including terms regarding cover crops; and leased hunting.

Please contact my office if you have questions. Good luck with your negotiations!

©2013

New Intern: Nicolas Aguero

Academic path

Institut d’Etudes Politiques, Lille, France

Universidad de Salamanca Salamanca, Spain

@ 2012-2013: 3rd year, Political Science, degree in politic science and law, Salamanca (Spain) Campus. @ 2011-2012: 2nd year, Political Science, degree politic science and law, at Lille Campus (France) @ 2010-2011: 1st year, Political Science, degree in politic science and law, at Lille campus (France).

Lycée International Saint-Germain-en-Laye, France

2009-2010: Terminale ES (equivalent to US 12th grade, Economy and Social studies option), Graduated with Mention: Bien. Graduated with OIB (international option) in Spanish.

2008-2009: Première ES (equivalent to US 11 th grade, Economy and Social studies option)

Parkway South High School Manchester, Missouri, USA 2007-2008: junior, US 11th grade

Lycée International Saint-Germain-en-Laye, France 2006-2007: Seconde (equivalent to US 10 th grade)

Foreign languages English: bilingual, TOEFL iBT approved early 2010 Spanish: mother tongue level. Spanish Selectividad and International graduation in Spanish (OIB) obtained in 2010. French: mother tongue level.

Internships

2013, June and July, internship at the GRECO (group of states against corruption) at the Council of Europe in Strasbourg 2012, August and September, internship at the European Commission Representation (ECR) in Malta 2012, June and July, Internship at the Argentinean Embassy in Paris, Economic Cooperation department 2011, August: Internship at European External Action Service (EEAS) in Costa Rica 2011, June and July, working for the Chief of Staff, at Major of Vernouillet service 2007: High School orientation internship: Legal Affairs department of Unisys France, producing a report on the Legal Affairs duties in corporations

High School and College exchange

July 2012: One week in Poland with the Weimar Triangle, sponsored by the Nord-Pas-De-Calais Region 2007-2008: One year in the United States living with host American family at attending local High School. The exchange was organized by the AFS – Vivre Sans Frontières NGO

Volunteer action 2012-2014 MUN association at Universidad de Salamanca, Munusal. Munusal: Conference organized at the Universidad de Salamanca by the students association 2010-2012 MUN association at Science Po Lille, since 2010 Munusal. Salamanca conference, April 2013 PMUN. Paris Conference, February 2012 NMUN. Europe Conference organization in Lille with the Regional Council of the Nord-Pas-De-Calais, January 2012 NMUN.NY. Conference in New York, April 2011. Distinguished Award 2011-2012 manager and player of the soccer team of Science Po Lille. 2012-2013 Co-manager and player of the of the a student soccer team at University of Salamanca