2024 indiana farm custom rates per acre map 56 Nick Paulson, Gary Schnitkey, Carl Zulauf, and Jim Baltz - Gary Schnitkey - In today’s farmdoc daily article, we discuss information for setting 2024 cash rents. 9% increase in the combining dryland corn rate state average rate to $45 per acre, and soybean harvest rate increased to Jun 27, 2022 · Moldboard Plow (sod) $23/ acre (stubble) $19/ acre Chisel Plow $20/ acre Heavy Disking $20/ acre Springtooth Harrow $16/ acre Cultivating $16/ acre Corn Planting $32/ acre - Inc. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. CRP Rents by State- General and Continuous. Compare your costs for baling small squares vs. Fuel $30 No Till Corn $35/ acre - Inc. 45 $17. Find local businesses, view maps and get driving directions in Google Maps. 11$ 20. 04 Rate per Acre Minimum 8. Kuethe, Schrader Endowed Chair in Farmland Economics and the survey’s author. Publication Number: AEC 2022-01. 28 per bale. As acres increase, yearly depreciation and interest costs are spread over more acres for a given implement size. Custom rates reports. These View online plat & GIS maps - agricultural land value estimators, property lines, soil survey mapping, cropland cover & ownership data. For each type of work, the average rate from the survey, the median, and the range are shown. The average size farm in Indiana was 274 acres per farm, up 2 acres from 2022. The average rate for baling medium large round bales is $12. 98 per acre in 2022. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. The average is calculated as the simple average of all responses. Average estimated Indiana land value and cash rent per acre (tillable, bare land) 2023 and 2024, Purdue Land Value Survey, June 2024. 7% to $204. At Merrell Bros. 7% and 4. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. 13 Poor $191 0. Ohio’s most recent custom farming report was released last July and includes brand-new rates for aerial application of chemicals, seed and fertilizer by drone. To obtain your own copy of the 2024 Purdue Farmland Value Survey Results, contact your local Extension Office or click here. Often, having someone else with specialized tools perform tasks is more cost effective and saves time. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. “While farmland prices increased between 2023 and 2024, survey respondents noted that much of the growth appears to have taken place in the latter half of 2023,” said Todd Kuethe , the Schrader Endowed Chair May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. 9% to $47. 29 to $36. 5 2024. 10 per acre with the tool bar. Intensively managed pasture, which is estimated to support a cow-calf pair on less than 2. Field Operations 2023 Department of Agricultural and Consumer Economics Sep 3, 2024 · Gary Schnitkey, Nick Paulson, Carl Zulauf, and Jim Baltz - Gary Schnitkey - Significant declines in 2025 cash rents are expected and may be necessary given negative expected returns for 2024, and a continued low return outlook for 2025. Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. 2017 Indiana Farm Custom Rates. Maryland and Delaware released a custom rate survey earlier this year, while Ohio and New York released custom rate surveys last year and will likely update them in 2024. Statewide, the average price of top-quality farmland averaged $13,739 per acre, up 7. 62 per acre. Table 1 shows historical prices for select operations. usda. For spraying, while the average is $8. Prior year’s statements of income and expenses can provide information on equipment repairs, maintenance and Thirteen percent reported a custom rate less than $5 per acre, 52 percent reported a custom rate between $5 and $7 per acre, 21 percent reported a custom rate between $7 and $9 per acre, 11 percent reported a custom rate between $9 and $11 per acre, and 4 percent of the respondents reported a custom rate of $11 or more per acre. Mar 3, 2025 · Pennsylvania and New York last updated custom farming rates in 2022. PAER-2024-09. Dec 27, 2023 · Neighboring states have continued doing custom rate surveys since the previous Pennsylvania survey was done. 97 from $27. 81 per bale. 66 Average $239 −0. 2024 Resource Packet; 2023. 13 Average $233 3. 8% and 0. Appendix Table 1 lists acres used to calculate total costs per acre. However, changes in rates across Indiana’s 6 regions were not uniform with rental rates in some regions and for some land quality types actually declining. Jan 16, 2024 · Farmland Values. 7%, at $8,689 per acre. May 7, 2024 · Ann Johanns, program specialist with ISU Extension and editor of Ag Decision Maker, says this year’s custom rates reflect the current farm economy. 30 per acre and combining soybeans averages $39. “Generally, 2024 custom rates are down slightly from 2023,” she notes. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. The average flat rate in 2024 for harvesting wheat was $31. 70 per bale, with large round bales coming in at $13. For no-till corn, 32 people responded. 75 million acres 2020 Texas Agricultural Custom Rates Number of Survey Responses and Rates ($) per Unit for Regions of Texas LAND TILLAGE OPERATIONS Including cost of operator, machine and fuel North East West South State Moldboard: Responses 6 6 6 7 25 Shallow (less than 12 inches) Average 21. Michigan’s most recent custom farming rates report was released in December. Sep 1, 2017 · Michael Langemeier - Numerous farms that are either hiring a custom operator or providing custom rate services to other farms use published custom rate surveys. The state average for harvesting irrigated corn increased 14. Publication Number: AEC 2024-01. Gain an in-depth understanding of trends, market dynamics, and future Mar 22, 2022 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. These rates have increased since last Aug 7, 2023 · The 2023 survey results confirm that, statewide, average cash rental rates for Indiana farmland rose about 2% above 2022’s rates. Part II of the custom rates survey included questions about fall operations such as harvesting, hauling grain and livestock, as well as miscellaneous custom work activities on the farm. NDSU Agriculture educates students with interests in agriculture, food systems and natural resources; fosters communities through partnerships that educate the public; provides creative, cost-effective solutions to current problems; and pursues fundamental and applied research to help shape a Apr 24, 2023 · Expense items used to compute custom charges are typically recorded on an hourly basis and then converted to a per-acre basis using the number of acres that can be covered per hour, such as how many acres of corn you could plant per hour or how many acres of land you could disk per hour. 50 25. Certification of Agricultural Land Base Rate Value for Assessment Year 2024 - December 29, 2023 . Compare your actual costs to custom rates. The Ontario average custom rates are allocated across the six machinery-related expenses. 7% to $11,210 and $8,689 per acre, respectively. Farm real estate values in Indiana were up 3. 73 11 $20. Farm work completed by others Seeding rates for corn are 27,000 seeds per acre on low productivity soils and 33,000 seeds per acre on average and high productivity soils. Compared to 2024, what are your expectations for cash rents in your area in 2025? Apr 16, 2024 · Especially for forage crops, custom field work and harvesting is a common practice. Therefore, costs per acre decline as acres of use increase for a given implement size. 20. 69 W. Since more than 30 people responded, Langemeier included a variation measure, from $24. The national average cash rent for cropland increased to $140 per acre in 2019 from $138 per acre in 2018, while th e national average for pa sture increased by $0. 2022 Cost to Produce Corn and Soybeans in Illinois: The total of all economic costs per acre for growing corn and soybeans in Illinois. 70 Poor $185 3. 8%, to $11,210 per acre, and poor-quality farmland was up only 0. 84 15% Combining Dryland Corn, flat rate per acre 38. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. 71 21. 3% to $313, and per acre cash rent for average quality land increased by less than one percent to $260. S. Jul 1, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. 31 per bushel at 180 bushels per acre and to $5. 00 $14. Soybean seed prices include Round-Up Ready® varieties. It . Mar 26, 2024 · Iowa State University Extension and Outreach has released the data from their 2024 Custom Farm Rate and increased to $15. Indiana Farm Numbers The number of farms in Indiana in 2023 was 53,300. 15$ 15. Aug 9, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Similarly, if a farm is providing custom rate services and has a higher cost than the published survey rates, it cropland value from the survey is $6,119 per acre, an increase of 12. 68 per bushel at 200 bushels per acre. Tips for shopping or setting rates Indiana Farmland Prices Continue to Rise August 2023 “While farmland prices reached a new peak in 2023, the appreciation rate from 2022 to 2023 was much lower than the record high price growth observed between 2021 and 2022,” said Todd H. Average and poor-quality farmland increased 5. 8% increase from June 2023. 50 23. Sep 26, 2024 · Negotiating cash rental rates? This AgCast episode explores 2024 farmland cash rent trends in the Purdue Farmland Value and Cash Rental Rates survey and long-term trends in Indiana cash rental rates, including an examination of regional variation in rates within Indiana. If there are more than 30 responses, Langemeier calculates the variation in range of answers. Consistent with these return expectations, professional farm matter how many acres are covered. Average price for top-selling land was $13,739 per acre, up 7. 2024 Farmland and Cash Rent Outlook. 18 May 1, 2023 · The custom rate for spraying with a self-propelled sprayer, at just over $8 an acre for ’23, is based on 37 responses. In Georgia, cash rent for cropland (irrigated and non-irrigated) increased by $10 to $126 per acre compared to 2018 averages. Mar 20, 2023 · Most custom rates saw an increase of 10-15%. Pasture grazing rents have ranged from $15. 00 per cow unit per month, depending upon pasture quality. Download 2024 Custom Rates Report services. As a benchmark, reducing cash rents back to 2020 levels would help, particularly for cash rents that are at or above NASS averages. 19 per acre. The client pays a rate per acre for each farming operation requested to be completed. While the farmland market has been robust in recent years May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. Todd Kuethe, Schrader Endowed Chair in Farmland Economics, conducted the survey of farm managers and bankers in June. Offered and Acceptable Acres - Summary of Acceptable Acres. 54 per acre, with the most common rate reported being $16. Information for Setting 2023 Cash Rents: Results from the Illinois Society suggest rising cash rents in 2023, though at lower rates than occurred in 2022. 00 $4. nass. 1% from last year’s cash rental rate. 11 per acre for soybeans. Fuel Broadcast Seeding $16 - $20 Aug 8, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. xdnjj yrps beoma hckgz jyqeq sksrqu txf pzd kgr sgzm mxd vckfz ijivcynz shwhq kbasudx