Looking at some photos is essentially meaningless unless a crack is visible, a piece is broken off or serious detonation has caused melting. A machinist can measure how badly worn the ring lands are as well as checking the OD of the piston.
A lot of things are at play here. Why was this engine dismantled? Has a machinist checked the top, middle and bottom of the bore for sizing to see how out of round it is and how much taper is there?
If the cylinder must be bored, then your question is moot.
If you spend the money to bore the cylinder, then a new rod is wise from a metal fatigue perspective. If the crank has to be turned 10 or 20 under, then a new rod is necessary. It's a slippery slope. If you intend to keep this tractor long term, then you need to face up to spending whatever is needed to do a complete rebuild. Decking the top of the block to make sure it is dead flat, having the camshaft profiled to make sure it is lifting the valves high enough, either replacing or scrapping the balance gears, valves, seats, spring, guides, new bearings, planing the head to remove warpage and so forth. Those who don't do a total rebuild often wonder why their engine blew apart months later.