2024 indiana farm custom rates per acre calculator. 2023, farmland prices across Indiana.
2024 indiana farm custom rates per acre calculator 74 23. Mar 25, 2024 · Following are the “Median” custom rates for some common farming practices for 2024, as well as the (range) of custom rates listed, based on the “Iowa Farm Custom Rate Survey. This is up a tick from 2023, which had an average rate of $7. 00 - $21. 7%, respectively. 00 $10. 31 per bushel at 180 bushels per acre and to $5. County Estimates August 28, 2024 Indiana Cash Rent County Estimates 2024 County and District Non-Irrigated Irrigated Pasture Dollars per Acre Dollars per Acre Dollars per Acre 10 NORTHWEST ENTON JASPER LAKE LA PORTE NEWTON PORTER PULASKI STARKE WHITE 20 NORTH CENTRAL ARROLL ASS ELKHART FULTON KOSIUSKO MARSHALL MIAMI ST. 80 18. custom rate. 70 6. 10 The quality of data is dependent on the cooperation received by producers and commercial custom operators. Not included are . COMMUNICATION. Note this margin does not cover overhead costs or other costs Mar 12, 2025 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 50 5. Since more than 30 people responded, Langemeier included a variation measure, from $24. Soybean seed prices include Round-Up Ready® varieties. 50 23. 21 ft 205 47,440 12. 6 an acre. Custom planting ranges from $12. 58 per acre) for the case farm is under these custom rates, indicating that it is economical for the case farm to own a field cultivator. Tips for shopping or setting rates. 00 per acre, or 20 - 70 cents per cow unit per day, or $8. 00 per acre (Range = $71 - $280 per acre) Tillage "Complete Harvest (Computed)" adds individual custom rates for mowing/conditioning, raking, baling, and moving/storing (where applicable) to estimate a custom rate for these combined operations. 2024 Resource Packet; 2023. Nov 21, 2005 · Several land-grant ag. 40 $ Seed, Chemical, etc. 50 per acre). “Generally, 2024 custom rates are down slightly from 2023,” she notes. 5 Operating Costs Jul 3, 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. 25 $11. Between 2020 and 2024, average cash rents in Illinois Jan 9, 2024 · If the cash rental rate or other expenses are $50 per acre higher than estimates, breakeven levels increase to $6. 19 per acre. 39 per acre, respectively. Jun 10, 2021 · Related: Purdue issues custom rates for field operations. Apr 23, 2021 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 00 - $20. Download 2024 Custom Rates Report Page 4 Early Season Custom Farm Work Rates August 2024 OTHER CUSTOM WORK AND HISTORICAL DATA OTHER CUSTOM WORK, STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation 2024 20 Average Rate 24 as Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate Jan 16, 2024 · 2022 did some custom canola planting charged 21 an acre ex fuel. Calculate your own costs Sep 4, 2024 · 2024 custom rates information provided in Table 1 shows a significant increase in per-acre harvest rates for corn and soybeans. 00 -$80. The total economic cost of owning and operating the machinery for custom hire services can be a starting point for custom work rates. Surveys were mailed/emailed to past Jul 24, 2023 · Following the results of OMAFRA's Custom Rates Survey, OPACA polled 20 of their members in early 2023 and compared current custom rates with OMAFRA's report. Has the rate changed over time? Yes. 15$ 15. 00 Oct 4, 2022 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Mar 7, 2024 · To find the best cost for your situation, compare solar farm rates. 2024 average Indiana farm real Dollars per acre Dollars per acre. Herbicide and seed costs are expected to be similar to Apr 24, 2024 · It is important that contractors calculate their own costs based on individual circumstances. 81 per bale. These rates are only intended as a guide. If there are more than 30 responses, Langemeier calculates the variation in range of answers. Here are some examples. 20 20. Using our example, this would result in a value of $563. For custom rates, the margin is also applied to labour and fuel costs. ARC-CO & PLC Per Acre Payment Estimator for Iowa, 2024-2025 Farm Bill 2018: A1-35: Farm Bill Calculator Use this decision tool to access average custom rates Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates Pasture grazing rents have ranged from $15. Updated October 21, 2022 2021 Indiana Farm Custom Rates Combine Only $/acre 41 29. , and labor for the is often referred to as “custom farm work” or more simply, “custom work”. A “custom rate” is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. 00 12. The $/acre rate is often used because it fixes the renter’s cost and allows the owner/ operator to adjust the operation to the conditions. Publication Number: AEC 2022-01. expected to be $39 per acre ($0. Offset disking Dollars per acre $13. 00 per cow unit per month, depending upon pasture quality. Compare your costs for baling small squares vs. PUBLISHED ON September 12, 2024. 74. Latest Email; Upcoming Programs; Faculty Sep 3, 2024 · The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2024 at $269 per acre, up by $10 per acre from $259 per acre for 2023 (see Figure 2). Nov 21, 2023 · Check grain bins. 20 18. 00 average * $14. Liquid application ranged from $7. large round bales. 00 for Iowa, 2014. Aug 22, 2023 · The net cost to the seller would then be the gross revenue of the grain ($585 per acre) plus the lost nutrient removal ($47. 25 per acre and increased to $15. Custom Rates May 23, 2023 · In 2022, operator and land return was $609 per acre, and average FBFM cash rent was $358 per acre, leaving a farmer return of $251 per acre ($251 = $609 – $358). Interpretation and utilization of this information is the responsibility of the user. The average rates increased, and the reported base rate bushels decreased in 2024 for wheat harvesting compared to that reported in 2022. 68 per bushel at 200 bushels per acre. Jan 1, 2025 · capitalization rates per SEA 308-2016 to arrive at a final base rate of $1,850. (Target Yield per Acre / BE Yield) Note: This budget is only a guide and is not intended as an in depth study of the cost of production of this industry. 00 8 Custom Rates for Farm and Aug 7, 2023 · The 2023 survey results confirm that, statewide, average cash rental rates for Indiana farmland rose about 2% above 2022’s rates. You can enter the area in any unit you desire. 01 per acre, the range is from Feb 17, 2025 · Table 1 provides a sample of a few of the spring field operation rates included in the 2024 Nebraska Custom Rates report. 2024. this guide will cover your costs for performing the service . Average grain storage rental rates can be found in AgDM Information File A3-10 Iowa Farm Custom Rate Survey. 26 and $29. Combining corn shows an average of $41. More operations are highlighted in other articles. Experience is the best guide to help budget machinery costs. Updated April 26, 2019; Farm and Family Living Income and Expenses: Summary of annual capital and noncapital family living expenditures and income and social security tax payments. 9% to $47. Corn: $152. Ohio State Extension recommends growers calculate their own costs before determining the custom rate to charge or pay. JOSEPH WAASH 30 NORTHEAST survey of agricultural producers. Revised April 2024 Historical Iowa Farm Custom Rate Survey Averages Tillage 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Chopping cornstalks / acre $13. 00-30. Also, if a farm faces serious labor or timeliness constraints, its machinery investment per acre may be relatively high. 00 $25. 50$ Large Rectangular Baler 3x3 , 20 Ft 3. ). Most corn and soybean producers across the Midwest completed the 2023 harvest season somewhat early and may now need to pay close attention to grain that is stored in on-farm Our price-per-acre calculator is simple to use: Enter option A's land area and total cost. 7% to $204. 50 2 23. NASS publications cover a wide range of subjects, from traditional crops, such as corn and wheat, to specialties, such as mushrooms and flowers; from calves born to hogs slaughtered; from agricultural prices to land in farms. Apr 22, 2021 · Average 2021 farm custom rates for some typical tillage, planting and harvesting practices, as well as custom farming rates, are listed in the table below. For machinery rental, the margin is applied to both the ownership and repair and maintenance costs. 70 0. These rates have increased since last year’s survey from $12. The level of 2023 returns is still uncertain, though average 2023 cash rents likely will be above operator and land returns for 2023 Apr 30, 2024 · $60. 50 to $13 per acre. The state average for disk harrowing (secondary light seedbed preparation) is $18. At the state level, average value in 2024 ranged from $700 per acre in New Mexico to $22,000 in Rhode Island. Read More 2018 Farm Bill What If Tool Average Fertilizer Rates. 50 18. In . While many farmers do custom jobs for their neighbours, it can be difficult to know what to charge. Farmers can expect that contracting rates would be 25 per cent higher than OMAFRA's values. 7 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. 1 Based on a 470 HP combine used on 2,500 acres. 15 range 10. Certification of Agricultural Land Base Rate for Assessment Year 2023 - December 30, 2022 . 23. Ploughing – heavy land. 29 to $36. 2019 Indiana Farm Custom Rates. 65 18. 50 §Respondents: rural appraisers, ag lenders, farm managers, and farmers §Information collected: •Estimated Land values as of December 2022, June 2023 & December 2023 (projection) •Top, average, and poor quality land •Annual cash rental rate •Long-term corn yield (productivity) 17 Jul 30, 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. Now they have a bunch of old junk and let them do it. custom rates. 00 11 Bed disking (hipper) Dollars per acre $10. 80 $3. Timber pasture, which requires more than seven acres per cow-calf pair is estimated at $30 per acre. , and labor for the Farm Resource Guide. For spraying, while the average is $8. 80 statewide average (IA - 2023) (No 2024 Value) Visit the WI Custom Rate Guide for charges expressed in dollars/hour or dollars/ton to calculate costs using those posted values. 73 11 $20. Mar 3, 2025 · Michigan’s most recent custom farming rates report was released in December. Information from the FSA-63 ECAP application mailed from FSA includes the eligible commodity acreage, based on the applicant’s share interest, for all farms nationwide and can be used to populate the acres in the ECAP calculator. They reach an agreement at 36%. 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. 10 per bu. 20. Didn’t think it was enough for the 20 mile road travel and 1 day only but was helping a friend finish up in canola. 2 Based on a $68,300 grain cart used on 1,900 acres. 11 per acre for soybeans. Soil preparation £/ha £/acre Ploughing – light land. 00 $7. 22 per acre for corn and from $23. 90 Moldboard plowing / acre 18. 80 $12. Costs were adjusted to 2024 prices provided by a number of Iowa retailers, although prices may vary. 81 per 1,000 kernels 28,000 $106. g. Eligible acreage, commodities, and ECAP payment rates (per acre): Custom operators who extensively engage in custom work should estimate the full ownership and operating costs of their services before agreeing to work for the “going rate” in their area. ” According to the survey, which is conducted annually in June, the average price of top-quality farmland is $14,392, up 4. Farm Real Estate Value U. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. The average flat rate in 2024 for harvesting wheat was $31. 41 22. Average farmland rental rates by county with current projections. Table C. 10 statewide average (IA - 2024) $16. They are not to be interpreted as the rates you must charge or pay. 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. 00 per acre, $70. Fuel was around $1. 85 $11. 10 per acre Soybean $8. 40 per acre Grain Cart 2 $15. 38 $5. Michael Langemeier, a Purdue Extension agricultural economist, tracks custom rates and conducts a survey every other year. 3% to $313, and per acre cash rent for average quality land increased by less than one percent to $260. ) Mowing CRP or pasture, $/ acre average = 16. Fuel Small grain no-till $27/ acre - Inc. 20 $27. Michigan State University Extension offers a custom work rates report that offers Michigan-based costs for a variety of common farm operations. 4% and 10. For each type of work, the average rate from the The custom rate for spraying with a self-propelled sprayer, at just over $8 an acre for ’23, is based on 37 responses. 39$ 12. ) is then divided by the work rate (acre/hr. 28 Sep 24, 2024 · Statewide farmland prices once again set a new record in 2024, according to the recent “Purdue Farmland Value and Cash Rent Survey. The University of Minnesota, University of Illinois and Iowa State University have online tools that can help Good pasture, which is estimated to support a cow-calf pair on less than four acres, had a rental rate of $40 per acre. 30 35,000 $133. 50 per pound 168 84. This margin has been set at 15 per cent to coincide with typical industry practices. 67 to $35. 83 17. It . Breakeven prices to cover variable and total cost are computed for each crop. 40 $11. Fair and poor pasture, which uses four to seven acres per cow-calf pair had a rental rate $40 per acre. , and labor for the Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates 2020 Texas Agricultural Custom Rates Number of Survey Responses and Rates ($) 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. PAER-2024-09. annual hours of use, financing costs, etc. 30 2. 18 $8. again set a new record high, at $13,739 per acre Part I of the survey focused on spring and summer farm and ranch operations such as planting, tillage, and baling hay. But the loss incurred during 2016 draws the farms working capital down to $344 per acre at the end of 2016. To see the full report for all operations, complete with all qualifying comments, visit 2021 Jan 16, 2024 · Fertilizer costs in 2024 are expected to be approximately 19 percent lower than what they were in 2023. 00 - $90. In 2023, farmland prices across Indiana again set a new record high, at $13,739 per acre for top quality land, $11,210 for average quality land, and $8,689 for poor quality land. Ohio Farm Custom Rates 2024. 50 to $45 per acre, depending on the type of planter and setup. Gain an in-depth understanding of trends, market dynamics, and Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. 50 per acre Soybean $33. 33 per bushel), which is similar to the 2023 cash rent per acre. 85 gallons per acre, the additional rate can be figured using this equation: $4. In Georgia, cash rent for cropland (irrigated and non-irrigated) increased by $10 to $126 per acre compared to 2018 averages. 40 18. 60 per acre (Range Feb 17, 2025 · Table 1 provides a sample of a few of the spring field operation rates included in the 2024 Nebraska Custom Rates report. 77 12% Ridge planting, with band applicator, rate per acre 23. 50 × 54 bushels = $243) per acre. The ECAP calculator can be used to compute an estimated payment amount for producers that apply for ECAP. Charging custom rates at estimated costs should cover all costs, but will not . 97 from $27. 200 bushels per acre x $5 x 36% = $360 per acre cash rent; Soybean Example 2024 Nebraska Farm Custom Rates Report can have a large impact on the suggested rental and custom rates (e. 18 per ton from this 20-ton yield. 04 Rate per Acre Minimum 8. Change in rate. This publication reports custom rates based on a statewide survey. Start searching for land after you know what elements could affect your lease rate. S. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. is recommended that you use your records to derive your costs. 52 $4. These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. Mar 28, 2024 · Custom Farming Rates (includes tillage, planting and harvesting costs):. 40 per acre Grain Hauling 3 $0. Row markout: Dry row markout: no product applied 20. 68 30,000 $114. 12 9. 71 21. Corn $38. While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. 54 per acre, with the most common rate reported being $16. These Mar 24, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Field Operations 2023 Department of Agricultural and Consumer Economics May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. Cash rental rates are correlated with farm profitability to some extent as shown by the net farm income per crop acre for western, central, and eastern Kansas. 00 Row markout with one product: 0-30 gal. 28$ 21. 00 per acre, $17. id166_2025 - february 2025 Aug 29, 2017 · The total machinery cost per acre ($9. 90 $11. 38$ 18. Indiana per acre cash rent for top quality land increased by 2. , $350 per acre and below 2024 Farmland and Cash Rent Outlook. Download the free 2025 Farm Resource Guide. the result by the estimated annual hours of use. , and labor for the extra per bushel of wheat for yields greater than 27 bushels per acre. 00 21. Fuel Broadcast Seeding $16 - $20 Aug 9, 2024 · The survey is produced through the cooperation of numerous professionals knowledgeable of Indiana’s farmland market. Hay Share Calculator The Hay Share Calculator is designed to calculate the cost of producing baled hay and the value of standing hay. 39 23. Custom rates reports. per acre per acre per acre Harvest (continued) Hay Baler PTO Twine 12 Ft 8. These professionals provide an estimate of the market value for bare poor, average, and top-quality farmland in December 2023, June 2024, and a forecast for December 2024. allowances for profit. 00 - 28. Average- and poor-quality farm ground also hit new highs: the average price for average-quality ground is $11,630 per Mar 26, 2024 · Injecting anhydrous without a tool bar had an average rate of $13. 00 4 Field cultivating Dollars per acre $8. services. Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. 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. Apr 3, 2024 · The owner has determined the average yield on the farm is 200 bushels per acre. 95 per acre, an increase of $3. Since 1975 Alberta Agriculture & Rural Development has annually surveyed custom rates and rental rates to provide information to farmers and custom operators. 2023, farmland prices across Indiana. 8% from June 2023. 3 Hauling costs from field to storage will vary depending on distance to storage, unloading time, and other factors Estimating a fair rental value for farm grain storage can be based on: current market rates, commercial rates, or; ownership costs. 20 - $3. Corn: $150. Jan 3, 2025 · Farms in the 30 th percentile, meaning that 30 percent of the farms had values higher than this group, had an average machinery investment per acre of $1,031, while farms in the 70 th percentile had an average machinery investment per acre of $478. Ohio Farm Custom Rates . 99 per acre, or about $22 per acre. 35 $ Nitrogen, $0. For example, if fuel (diesel) cost used in the power unit jumps to $4. $130 per acre (range = $75 - $250 USDA National Agricultural Statistics Service Information. There is no assurance that the average rates reported in . Oct 30, 2024 · Many farm operations reach out to other farms to help fulfill production activities. 94 diesel price increase x 0. These variations are included in the complete tables online. 30 per acre and combining soybeans averages $39. Feb 10, 2025 · A user can evaluate up to three full-season crops, and the wheat double-crop soybean system. 90 per acre, an increase of 12. May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. Tractor List -- Acres per -- per Tractor Implement Fuel Fuel Use Implement/size HP Price Hour Year Hour Total= Overhead + Overhead + & Lube + Labor Per Acre HP $ ac/hr ac/yr $/hr ----- $ per acre ----- gal. 50. This guide includes useful forms and farm business management information including: Custom rates: What to charge for planting, etc. 9% increase in the combining dryland corn rate state average rate to $45 per acre, and soybean harvest rate increased to Variable Cost, Overhead Cost, and Gross Revenue per Acre . Fuel Seeding (Drill or Cultipacker) $25/ acre - Inc. Table 1 shows historical prices for select operations. " Mar 24, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. or that you will be able to hire a custom operator in your area for the rates shown. If your farm has an average corn yield of 190 bushels per acre this results in a rental rate of $247 ($1. Adjusting custom rates Mar 28, 2023 · Average 2023 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. An average soybean yield of 54 bushels per acre results in a rental rate of $243 ($4. 75 $10. As for fertilizer rates, dry bulk fertilizer averaged $7. A common method is to charge a rental rate similar to what others are charging. 25 per acre applied. be $253 per acre ($1. The hourly rate ($/hr. Farmland Values. However, some Sep 7, 2023 · The Ohio State Extension 2022 corn silage budget calculator values corn silage variable costs at $570/acre and fixed land costs at $390/acre for a total per acre cost of $960/acre to grow and 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. 70 per bale, with large round bales coming in at $13. Machinery investment per acre typically declines with farm size. 50 19. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. 00 Using various sources of farm management data, a commonly used crop machinery investment per acre benchmark is a value below $550 per acre. highest increase in pasture value per acre at 10. 20 per gallon, and the machine has a consumption rate of 0. 65 per acre for spraying and $12 per acre for side dressing – both down from 2023. economics departments conduct periodic surveys of farmers to the determine the rates they pay/receive for custom work. 30. The average rate for baling medium large round bales is $12. When interpreting relatively low crop machinery investment values (e. AERIAL APPLICATIONS, IDAHO, 2019 Operation Range in Rates Statewide Average Number of Regional Averages Responses SW SC SE. $130 per acre (range: $75-$240 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. 67 20. Postal Service and 633 people via email in February 2025. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. After consideration, the landowner offers a 38% factor or estimate of generated farm revenue, and the farmer counters with 35%. Custom Rates – Crop and pastureland lease and rental; Custom Rates – Field operations; Custom Rates – Grain harvesting operations; Custom Rates – Hay and silage operations; Custom Rates – Livestock Sep 1, 2021 · Net return to land from 1996 to 2021 from a landowner perspective were computed for a case farm in west central Indiana. 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. 25 4 20. 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. Check the column for average rates from the same Purdue custom rates survey for 2017. 10 per acre with the tool bar. Custom Rates compared to previous custom rates surveys to see if the direction and magnitude of changes seems reasonable. 56 per acre or $28. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. 67 35. However, fertilizer costs are still expected to be $39 per acre ($0. 6 882 197. 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. 19. 06 per acre) minus the harvest savings ($68. farm real estate value – the value of all land and buildings on farms – averaged $4,170 per acre in 2024, an increase of $200 per acre from 2023. Prior year’s statements of income and expenses can provide information on equipment repairs, maintenance and Aug 26, 2024 · The average corn yield for poor quality land was 167 bushels per acre and 226 bushels per acre for top quality land. 00 26. The 2024 survey average for Indiana cash rent saw some changes. Expected average rents by land class for 2024 are: $395 per acre for excellent land class ($402 for 2023), $330 per acre for good land class ($335 for 2023), $263 per acre for average land class ($268 for 2023), $210 per acre for fair land class ($213 for 2023), Average rent levels tend to follow trends in farm returns, but with a 1 to 2 year lag. 30 × 190 bushels = $247) per acre. A range of rates is reported across the state from $10 to $48 per acre. For each type of work, the average rate from the Based on the table, the average rate for planting no-till corn is $21. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. 00-25. 00 $12. 50 193 96. 00 30. 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 your machinery cost per acre is relatively high, then a farm should consider using a 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. Indiana Farmland Values & Cash Rental Rates: 2024 Update Mar 23, 2023 · Custom planting ranges from $12. 00 per acre (Range = $75 - $280 per acre) Soybeans: $140. Rotation soybeans are drilled with a seeding rate of 169,000 seeds per acre with a 90% germination rate. 81. Fuel $30 No Till Corn $35/ acre - Inc. Costs include overhead (depreciation, interest, insurance, housing and repairs), fuel and labor charges. 00 $6. Cash rent per acre in 2024 is expected to . 50 25. Sep 12, 2024 · Average price of top-quality farmland reached $14,392 per acre. Certification of Agricultural Land Base Rate Value for Assessment Year 2024 - December 29, 2023 . The case farm had 3000 crop acres and utilized a corn/soybean rotation. *Estimated range based on farm data Farm Machinery Custom Rental Rate Guide Calculator This calculator can be used to provide approximate costs for renting equipment or obtaining custom farming operations from another farmer. Price growth was robust, but muted compared to the Purdue ag economists Todd Kuethe, Michael Langemeier and James Mintert discuss the 2024 Purdue Farmland Value & Cash Rental Rates survey in a two-part video podcast where they share results which confirm that the average value for Indiana farmland hit a new record high this summer. 22$ 19. Mar 10, 2025 · Note: Producers who have not previously reported 2024 crop year acreage or filed a notice of loss for prevent plant crops, must submit an acreage report by the August 15, 2025 deadline. The Ontario average custom rates are allocated across the six machinery-related expenses. Mar 29, 2022 · One of the best resources for average custom rates is the annual Iowa Farm Custom Rate Survey that is coordinated and analyzed by Iowa State University. Crop Production Costs 2025 Guidelines (Dollars Per Acre) Profitability Analysis Breakeven Analysis Jun 8, 2019 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 20 1. 26 = $0. extra per bushel of wheat for yields greater than 27 bushels per acre. 63 47. 45 19. Charged $21 an acre. There are both higher and lower rents than listed here and is subject to local demand and supply. Dec 27, 2023 · 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. These net farm income numbers per crop acre are shown in Figure 3. 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. • The base rate for January 1, 2018, was updated by removing the 2011 data, adding the 2017 data, excluding the highest year (2013) of the six-year average, and adjusting the capitalization rates per SEA 308-2016 to arrive at a final base rate of $1,610. 75 $11. 18 13% Combining Irrigated Corn, flat rate per acre 41. 98 per acre in 2022. Similarly, if a farm is providing custom rate services and has a higher cost than the published survey rates, it Nov 4, 2024 · Calculating the total economic costs of providing a custom service, the tool’s insights reflect the cost of ownership of the tractor and implement, as well as the operating costs for the custom operation. Labor was valued at $20. Todd Kuethe, Professor and Schrader Endowed Chair in Farmland Economics. 6%. Each year, eHay Weekly offers readers a one-stop shop for accessing custom fieldwork rate information from those states that have done surveys in the past few years. 00 $14. The case farm participated in the ARC-CO program and purchased 80 percent revenue protection coverage. Relative to the entire 2000 to 2022 period shown in Figure 1, the 2022 return was high. Your solar farm land lease rate per acre should be fair. The rate for conventional corn is $19. 08 $12. 90 per acre Compute accrual net farm income, and key financial ratios and repayment capacity measures from Schedule F information and beginning and ending balance sheets. 13 7% Ridge planting, without band applicator, rate per acre 21. They thought i was too high. Jun 19, 2024 · If fuel costs change, custom operators may adjust their rates accordingly. Feb 14, 2025 · The user can evaluate up to three full-season crops, and the wheat double-crop soybean system. 53 8% Spraying Weed Control, self-propelled sprayer, rate per acre 8. Discover farmland values, soil productivity, crop mix, and parcel ownership. Especially for forage crops, custom field work and harvesting is a common practice. 2017 Indiana Farm Custom Rates. 50 4 Stalk cutting/shredding Dollars per acre $7. The average price of top-quality farmland reached $14,392 per acre, a 4. Flexible rental agreements and how they work. 00 per hour, from recent reports of the average fence building custom charges in AgDM File A3-12, Historical Iowa Farm Custom Rate Survey. 00 20. The land’s lease rate per acre is listed online or in local media. "Complete Farm Income and Production Cost Summary: This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016. Below are the calculations. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. (Google custom farm rates for other examples. And if the cash rental rate remains at $281 per acre, the farm’s working capital per acre drops from $400 at the beginning of 2016 to $146 per acre by the end of 2020, a decline of nearly 60 percent. These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Indiana State Average Cash Rental Rates By Land Quality, 2000 – 2024 Source: Purdue Land Value and Cash Rent Survey 140 257 259 313 112 204 217 260 86 157 175 204 0 50 100 150 200 250 300 350 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 $/Acre Top Average Poor Purdue Commercial AgCast podcast, September 2024 Planting with coulters, without band applicator, rate per acre 20. 80 $14. Resource Materials for Valuing Agricultural Land for Assessment Year 2023; 2022 Statewide, cash rents exhibited little change from 2023 to 2024 (Table 3). Communication. It is important to note that other factors such as timeliness, liquidity, solvency, and tax management may affect a farm’s decision to own machines or custom hire Jun 9, 2021 · Based on the 2021 numbers, you can expect to pay a hair more for harvesting corn than soybeans, averaging $30. 3 tons of hay per acre per cutting and 55 small square bales per acre per cutting. 11 ¢ / per foot 14 97 Mowing Pasture or CRP Acres $/acre 11 15. 85 consumption Most custom rates saw an increase of 10-15%. 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. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well Jan 16, 2024 · While the farmland market has been robust in recent years, there are signs that price growth may ease in 2024. Cash rent per acre in 2024 is expected to be $253 per acre ($1. 53$ Jan 26, 2024 · “Custom rates in a given area may vary significantly according to timeliness, operator skill, field size and shape, crop conditions, the performance characteristics of the machine being used, the relationship between the custom operator and the person needing custom work done, competitive pressures, and economic circumstances of the custom determining custom rates and for analyzing machin ery costs on farms. 00 -$25 per acre, $18. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. 28 per bale. 00 $4. In 2021 and 2022, agricultural returns set record highs, and cash rents increased. ) to calculate a cost per acre rate. Dollars per acre Dollars per acre. 21 per bushel) higher than costs in 2021. 50$ Round Baler w/Bale Wrap 5x6 , 20 Ft 2. The state average for harvesting irrigated corn increased 14. Units Seed, $3. 2021 Indiana Farm Custom Rates. 18 May 2, 2023 · Call it “sticker shock” for custom combining rates. Custom Machinery Rates Applicable to Kentucky (2022) Author: Greg Halich, Associate Extension Professor. The rates, it is prudent to compare your farm machinery costs per acre to custom rates. Publication Date: March 31st, 2022. This publication presents a summary of custom work and rental rates. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. 8% increase from June 2023. On average, cash rents ranged between $204 per acre for poor quality land and $313 per acre for top quality land. 80 15. The 2024 rent is another new record for Illinois and continues a trend of significant increases since 2020. It is the responsibility of both parties to agree to acceptable terms before Nov 14, 2011 · Remembering this i quoted them $25 a bale for 1 ton bales: $15 a acre to swath: $5 a acre to rake: $15 per acre to disk: $30 a acre to disk rip or plow and i want paid every week. 00 25. 00 181 90. Rotation Corn in Indiana. 60 foot db60 15 inch. per acre 192 bushels per acre 211 bushels per acre Your Fixed Variable Fixed Variable Fixed Variable Estimate Preharvest Machinery 1/ $41. Gary Schnitkey, Carl Zulauf, Nick Paulson, and Jim Baltz - Carl Zulauf - In today’s farmdoc daily article, we analyze how cash rents typically follow agricultural returns. Nov 22, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 00 6. Compare your actual costs to custom rates. 45 $17. generate a profit. 40 $12. The statewide average per acre cash rent for poor-quality land, however, fell by 3. Gross revenue, cost, and net returns are evaluated on a per acre and per unit basis. Assumptions for the computed harvest include 1. This price per acre calculator will instantly determine the price per unit area. 84 per acre for 2024, a 15. Net farm income increased from 2005 until about 2013 before starting to decline. 90 $12. 02 . 11$ 20. Current Market Rates. Feb 1, 2024 · Good yields, strong 2023 farm incomes, a shortage of farmland for sale and moderating interest rates have farm real estate experts optimistic about keeping land values at current high levels View maps featuring agricultural data, sold land, and land for sale. The average charge for combining and binning corn and wheat is now above $40 per acre, with combining soybeans and hauling them to the bin right at $40 per acre. qlyubytabgbnacgnlldsgvjcvonxagegjludjlspvubfseoqyxanjgflqaetqrzqsvpykiaherlup
