I don't know the exact details of the deal the previous owners had with the one neighbor, stories differ on that.
We got 104 sq bales off just under 10 Ac last October, it was DRY then WET, the opposite of what was needed for a decent crop.
Those bales sold for $6.50/b, or about $675 for the last of four cuttings in 2009. I have been told that in past years our ~10Ac was good for up to 800 bales per cutting but that was with favorable weather, fresh seeding and nitrogen all of which the neighbor does (or so we are told).
I did not ask for any money or bales from the last cutting but think that needs to be broached soon. We can only keep our ag exemption if in tillage or cattle so we need to either keep him doing it or get some cattle
We have been told that the typical local method is 1/3, 1/3, 1/3 or 50/50, where the landowner gets either about 1/3 ove the value (crop or $$) up to 50% depending. When we lived in MN the "norm" was to rent/lease land for taxes + 25% of the crop value (if any).