Purdue custom farming rates 2025 The quality of data is dependent on the cooperation received by producers and commercial custom operators. “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 2023 Indiana Farm Custom Rates By Michael Langemeier The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. I was presenting results from the recent Purdue custom rates survey Jun 11, 2021 · Here’s what the new Purdue survey says about custom rates for planting and drilling. 37 $4. , and the labor for the operation. READ MORE Mar 24, 2021 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Here is just a sampling of Michigan’s custom rates, total cost per hour of use. 58 per acre. 77 $1. Aug 3, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. , Inc. Purdue Extension educators and specialists developed the questionnaire. May 19, 2023 · The rate for wrapping bales is 73% higher than the rate in ’21, but only 8% higher than the rate for the same task in ’17. Nov 21, 2023 · The Iowa Custom Rate Survey, which also includes many miscellaneous farming practices and a formula for calculating rental rates. The 2024 report was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm Apr 16, 2008 · Following are the average custom farming costs for 2008, based on the Iowa Farm Custom Rate Survey (includes tillage, planting and harvesting costs): · Corn – $94. These surveys can be useful. purdue. Sep 20, 2023 · Illinois Farm Management Handbook. 2023 Indiana Farm Custom Rates. market returns and variable costs, will increase relative to Purdue University. Figure 1. Helpful Links. The average rate for baling medium large round bales is $12. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm Purdue Extension-Spencer County will1179@purdue. The recent 2024 Purdue Crop Cost & Return Guide suggests . 85 711 $2. The property tax is a tax on the value of property, and the value of The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Find a starting point in the 2023 Purdue custom rates survey. Oct 11, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 2025 Purdue Crop Cost & Return Guide November 2024 Estimates ID-166-W Purdue Extension 6Based on 2024 cash rent per bushel of corn yield reported in the article entitled "Farmland Prices Increase Despite Downward Pressure," Purdue Agricultural Economics Report, August, 2024. They provide a reference point based on what people who do custom work say they charge or what people who hire others to work for them say they pay. In 2017, the average rate for no-tilling corn was $17. Highly regarded as a valuable resource for all farmers, agriculture professionals, lenders and farmland owners, the 2024 PAER report reveals that land values in Indiana have reached record highs. Sep 6, 2022 · In addition to the MSU numbers, Ohio State has updated their bi-annual survey for Farm Custom Rates for 2022, the University of Illinois has a Machinery Cost Estimates for 2021 and Purdue has a Aug 24, 2022 · Purdue ag economists Todd Kuethe, James Mintert and Michael Langemeier discussed the 2022 Purdue Farmland Values Survey results and the USDA's Land Values report on August 24. The user can evaluate up to three full-season crops, and the wheat double-crop soybean system. These are the updated February 2025 crop budget estimations for 2025; prepared by Purdue faculty members Michael R. Purdue Educators distributed Aug 29, 2017 · Langemeier, Michael. The interest rate used can be the current rate charged on long-term farm equipment loans, or an average of the borrowing rate and the rate that could be earned on the farm’s equity capital. READ MORE 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. Custom 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. The rates Dec 10, 2024 · Both parties can benefit from a leasing arrangement. If 2022 was an indicator of the rising cost of farming, it appears that farmers may be facing the same increased rates this year. To see the full report for all operations, complete with all qualifying comments, visit 2021 Jun 7, 2021 · Every other year, Michael Langemeier heads up a survey through Purdue University’s Center for Commercial Agriculture to see what people are either charging or paying for various farm tasks done on a custom basis. ly/Indiana-custom-rates-23. Another survey will be out sometime this year to update these findings. edu extension. ” Purdue University, Center for Commercial Agriculture, May 2017. rotation corn and soybean for average quality land, 2010-2023. Corn breakeven prices for 2025 for low and high productivity soils are expected to be $5. 8% increase from June 2023. Postal Service and 633 people via email in February 2025. 4%, the unemployment rate should remain unchanged, and the Fed will cut interest rates more slowly than previously expected. 34 Oct 25, 2024 · Feeling like your cash rent is too high this year? Tune into this AgCast episode as we discuss farmland rental agreements, with a focus on flexible cash rent leases versus traditional cash rental and crop share arrangements. Crop Share Leasing and Lease Forms (EC-210-W) Indiana Cash Farm Lease(EC-257-W) Flex Rent Calculator Tool User Guidelines. Inflation should fall gradually to 2. Events. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. READ MORE. on July 10th. The survey respondents at the Top Farmer Conference, though not a random sample, offer unique insights into how some of Indiana’s leading farmers compare to respondents of EC-130-W • 2013 Indiana Farm Custom Rates It is the policy of the Purdue University Cooperative Extension Service that all persons have equal opportunity and access to its educational programs, services, activities, and Farm custom rates may differ significantly from one area in the state to another based on availability of custom operators and demand for their services. Jul 12, 2024 · Depending on where you are located, Indiana corn and soybean basis have seen large swings in the last six weeks. m. Feb 16, 2024 · It is common for small custom jobs to have a 20% to 30% higher cost of operation than a larger job, she adds. Updated February 2025. 12Includes crop insurance, general farm insurance, and miscellaneous cost. those who expect rates to fall (13%). Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. However, some The Purdue Center for Commercial Agriculture welcomed over 270 farmers and agribusiness professionals to the 2025 Purdue Top Farmer Conference on Friday, January 10th. The 2025 MSU Custom Work Rates Report covers a wide number of basic field machine Sep 1, 2021 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. That is a difficult question to answer. 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. 03/bu. The main revision in the budgets is a reduction in the corn and soybean prices assumed for both 2023 and 2024, resulting in lower return and profitability projections. Start by reviewing Purdue Extension custom rate survey charges. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. Purdue Crop Cost & Return Guide (ID-166-W) What's the Right Rent? (EC-708) Mar 24, 2023 · March 2023 Estimates . MSU Custom Rates Calculator (xls) MSU Custom Rates Worksheet (pdf) Pathology, Purdue University. MSU Custom Work Rates Report. 2% in 2025, a bit slower than in 2024. Sep 13, 2014 · A useful life of 20 to 25 years is reasonable for a grain drying system, although many systems provide service for longer periods. 2025 Farm Progress America, March 27, 2025. 2 IC 32-21-1-1. Chad Hart's presentation on the 2024 agricultural crop market outlook at the Purdue Top Farmer Conference on the latest episode of the Purdue Commercial AgCast. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. The reason that’s been rising is the pandemic. 14 $1. For example, SE Indiana corn basis was -$0. They’ll be going up a lot in 2025 too. 4:00 p. 2022 Purdue Crop Cost & Return Guide March 2022 Estimates ID-166-W Purdue Extension 6Based on 2021 cash rent per bushel of corn yield reported in the article entitled "Indiana Farmland Prices Hit New Record High in 2021," Purdue Agricultural Economics Report, July, 2021. The discussion covers cash rental trends in west central Indiana, the economic factors influencing changes in rental rates, and the relationship between net returns to land and cash rental rates. 44216 or directly 765-494-4216. The discussion covers May 25, 2019 · The custom rates reported in the table below were published in 2017. agricultural export sales, (8) U. In addition to the MSU numbers, Ohio State University has updated their bi-annual survey for farm custom rates for 2022, the University of Illinois has a machinery cost estimates for 2021 and Purdue has a 2021 Indiana farm custom rates available. Purdue Educators distributed the questionnaires at meetings and events statewide during the last The Farm Management Team produces and provides a list of resources for producers to help provide up-to-date information and news on horticulture related topics. Purdue Educators distributed the questionnaires at meetings and events Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. As in past years, there are states that have updated their rate guides since a year ago. Ohio will release its biannual custom rate report in May or June. The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Actual custom rates will be determined through the supply and Mar 29, 2022 · The custom farming rates for corn and soybean production are expected to increase by about 1. Jan 17, 2024 · Host Brady Brewer provides a recap of Dr. It is not intended for establishing rates for individuals or companies that rent equipment or contract custom farming operations as a business. The largest component of custom rate charges is typically depreciation and interest. Dr. He is an Indiana Bar Member with 41 years of service at Purdue. 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. 56 per bushel for in their farm business or perform custom work for others. This spreadsheet can be used along with the Purdue Crop Cost & Return Guide to examine gross revenue, costs, and earnings for crop enterprises. View photos from the event now. edu 1101 E CR 800 N Chrisney, IN 47611 812-362-8066 spencerces@purdue. Mar 24, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Farmers, landowners, farm custom Aug 9, 2024 · Amid much policy uncertainty, output will likely grow about 2. May 4, 2020 · This article will briefly discuss the components included in custom rates and provide a link to the most recent estimates of custom rates in Indiana. Jan 13, 2025 · Indiana Farm Custom Rates Survey 2025 Attention all growers and landowners! The Indiana Farm Custom Rates Survey is live, and we need your input! Please contact Feb 17, 2025 · Pages 5-9 from Part I of the 2024 report provide custom rate figures for spring field operations, including tillage, drilling, and planting. While the three-year average would suggest an increase over the next few weeks, recent divergence from the trend would advise caution. Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates Aug 15, 2019 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. Langemeier, Department of Agricultural Economics; Shaun Castell and Dan Quinn, Department of Agronomy; and Bill Johnson, Department of Nov 22, 2023 · March 2024 Estimates . In addition, machine operation costs are recommended to be calculated, and other Feb 10, 2025 · February 2025 Estimates . The annual 2024 farmland values & cash rents survey report from Purdue University hit the news wire today. inflation rate, (9) cash liquidity of buyers, and This spreadsheet can be used along with the Purdue Crop Cost & Return Guide to examine gross revenue, costs, and earnings for crop enterprises. Jan 16, 2024 · Amid much policy uncertainty, output will likely grow about 2. The room block and discounted rate will expire at 5:00 pm PT on April 16, 2025. Cash Rental Rates. Jun 8, 2019 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Our custom farm rates are in line with the Purdue Custom Farming Rates. READ MORE Click here to make your reservation, or call the Courtyard San Luis Obispo at (805) 786-4200; remember to mention you’re with the Purdue Precision Selling West program to receive the $179/night room rate. Indiana Farmland Prices Hit New Record High July 2021 “A unique combination of economic forces including net farm income, expected income growth, crop and livestock prices, interest rates, exports, inflation, alternative investments, U. Expense items typically incorporated into custom rate charges include fuel, lubrication, repairs, insurance, labor, and depreciation and interest. Machinery Costs; Finance; Illinois Crop Budgets and Historic Returns; Farmland Leasing; Whole Farm and Other Reports; ARC / PLC Decision; ARC/PLC Calculators. As a benchmark, reducing cash rents back to 2020 levels would help, particularly for cash rents that are at or above NASS averages. com. Purdue Educators distributed the questionnaires at meetings and events Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. Purdue Farm Road, Dubois, IN. 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. Purdue Educators distributed the questionnaires at meetings and events statewide during the last WHAT: If you visit the Fort Wayne Farm Show on Tuesday, January 14th DATE: Tuesday, January 14, 2025 TIME: 2-4pm LOCATION: Appleseed Room A, War Memorial Coliseum CREDITS: PARP & 2 CCHs in all categories AGENDA: Fred Whitford from Purdue Pesticide Programs WHAT: Simplot Grower meeting DATE: Thursday, January 23, 2025 Jan 16, 2025 · With price changes in the projections for ARC-CO and PLC, it is a good time for producers to consider if their current enrollment best fits their operation’s risk management needs. That is why when asked, Purdue Extension provides a range of values based on the annual Purdue Farmland Value Survey and stresses the importance of not simply Managing Farm Risk; Purdue Agricultural Economics Report; View All >> Series. Cash rental rate and contribution margin for . Apr 24, 2023 · As we move into another crop year, it is prudent to review custom rates and their components. 2025 Purdue Crop Cost & Return Guide December 2024 Estimates 13Contribution margin is the return to labor and management, machinery ownership, land resources, and risk. Mar 14, 2025 · The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. (EST) Apr 30, 2023 · Farm Progress America, March 27, 2025 Farm Progress America, March 27, 2025. Purdue updates haying and baling custom rates 4 Indiana Cash Farm Lease • EC-257-W Purdue Extension • Knowledge to Go EXAMPLE Indiana Cash Farm Lease Form* This Cash Farm Lease form can provide the landlord and tenant with a guide for developing an agreement to fit their individual situation. Kuethe, Purdue associate professor Mar 25, 2024 · The 2024 custom farming rates for corn and soybean production are also expected to remain steady compared to a year earlier, following an increase of nearly 20 percent in the previous five years The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Title: 2025 Custom Work Rates FINAL V3. READ MORE Mar 27, 2024 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. Purdue agronomy and weed science specialists will share key tips from their research and work with growers to reduce your cost per bushel while Michael Langemeier will highlight key management strategies you should consider implementing. Acres x Purdue; farm custom rates. 90 per bushel, respectively. 53 $3. Cash The slight dip in farmland prices at the end of 2024 was driven by lower net farm incomes, reduced crop prices, and higher interest rates. Of course, many states no longer do custom rate surveys. 5% compared to last year. Aug 26, 2024 · Throughout the year, many individuals ask what the “going rate” is for farmland rental prices. May 2, 2023 · Custom rates summarized in the recent 2023 Purdue custom rates survey indicate rising prices for harvesting and hauling grain. Break-even prices to cover all costs, including cash rent for farmland, range from $4. Aug 7, 2023 · Purdue ag economists Todd Kuethe, James Mintert and Michael Langemeier discuss cash rental rates for Indiana farmland in this, the second of two AgCast episodes discussing the 2023 Purdue Farmland Values and Cash Rents Survey results. For more, visit farmprogress. Jan 26, 2024 · Therefore, the statewide averages reported might be quite different from the going rate in any given area. 77 per acre. Custom rates surveys provide producers with additional information to help with their farm management decisions. Review Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Read More 2024-25 Farm Machinery Custom and Rental Rate Guide This guide has been established to provide approximate costs for renting equipment or obtaining custom farming operations from another farmer. policy, and farmers’ liquidity, all played a major factor in the price increase we’re experiencing,” said Todd H. 50 per gallon on-farm diesel fuel price for 2024. xlsm Author: clarkcr Created Date: 12/9/2024 8:05:42 AM 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. Apr 11, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Check-in is 3:00 pm PT and check-out is 12:00 pm PT. edu or by phone toll free to the West Lafayette Purdue Campus, 1-888-398-4636), Ext. Conclusions When crop producers are determining whether it is feasible to purchase a self-propelled sprayer, it is imperative to compare machine ownership costs to custom hire charges. 81 per bale. Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. Check the column for average rates from the same Purdue custom rates survey for 2017. Farmers use custom rates as a guide for machinery, budgeting, and financial planning. Mar 28, 2025. A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. That’s just under a 25% increase in six years. Mar 24, 2025 Purdue custom rate surveys can serve as a guide for determining rates. More operations are highlighted in other articles. Mar 28, 2023 · The 2023 custom farming rates for corn and soybean production are also expected to increase by about 10 to 12 percent compared to a year earlier, with an increase of nearly 20 percent in the past 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. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. Jan 16, 2024 · Increasing margins generally signals upward pressure on cash rental rates, as farm operators will have additional revenues to allocate to labor, investment, and land. The 2025 report, which can be viewed online, was published in the march edition. The report is one source custom operators may use to help determine what to charge or pay for agricultural custom services. These are the February 2025 crop budget estimations for 2025. Feb 14, 2025 · Updated February 2025. May 12, 2021 · Purdue Extension educators surveyed Indiana farmers, farm owners, farm custom operators and professional farm managers regarding custom rates they had either paid or received during the past year. This form is not intended to take the place of legal advice pertaining to con- Jun 11, 2021 · This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. Rents at 2020 levels still Aug 20, 2020 · Purdue Agricultural Economic Report - about cash rent and land values. 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. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. is probably the most widely used custom rate information that is Jan 31, 2025 · Amid much policy uncertainty, output will likely grow about 2. The average price of top-quality farmland reached $14,392 per acre, a 4. 2025 Custom Work Rates Summary. 2Crop's contribution margin is the per acre contribution margin from Table 1. Purdue Educators distributed the questionnaires at meetings and events statewide during the last Jun 10, 2021 · Related: Purdue issues custom rates for field operations. He relies on Purdue Extension educators to help distribute surveys, and then he compiles the data. Michigan State University Extension offers a custom work rates report that offers Michigan-based costs for a variety of common farm operations. 2017 Indiana Farm Custom Rates. Reducing costs without reducing productivity is a challenge every farm will face in 2025. 71 $ 21. Aug 7, 2024 · “Nearly three-fourths (72%) of farmers who responded to the July survey said they expect cash rental rates to remain about the same as in 2024,” they said. Labor has also become both a limiting and higher cost expense. Jul 26, 2024 · farmland market: (1) current net farm income, (2) expected growth rate in farm returns, (3) crop price level and outlook, (4) livestock price level and outlook, (5) current and expected interest rates, (6) returns to alternative investments, (7) outlook for U. You may reach Gerry by E-mail: harrisog@purdue. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well 2024 from 6:30-9:00 PM. Mar 27, 2025. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and Nebraska Custom Farming Rates 2025. Farm Progress America, March 24, 2025. Do not use the costs provided in this budget as a standalone in your decision making as they are a guide to help users enter their own cost information. Langemeier says the rates should only be used as a guide. See the complete Purdue custom rate survey results for ’23 at bit. The reason is the rise in the base rate of farmland. , we have an up-to-date tillage, planting and harvesting fleet along with the latest technology to meet your corn, soybean, wheat and cover crop needs. Watch the recording now! READ MORE. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. Mar 14, 2025 · Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. Given lower expected capital purchases in 2024 and 2025, we expect crop machinery investment per acre to remain at current levels or decline slightly. The client pays a rate per acre for each farming operation requested to be completed. 2025 Crop Cost and Return Guide. These are the March 2022 crop budget estimations for 2022; prepared by Purdue faculty members Michael Langemeier and Craig Dobbins, Department of Agricultural Economics; Bob Nielsen, Tony Vyn and Shaun Casteel, Department of Agronomy; and Bill Johnson Apr 23, 2021 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Expense items typically incorporated into custom rate charges include fuel, lubrication, repairs, insurance, labor, depreciation and interest. At Merrell Bros. 2025 Michigan State University Custom Work Rates Acres/hr Acres/yr Fuel Other Tillage 0 $0 - - $ - Chisel Plow 23 Ft 200 HP MFWD $59,500 11. Percentage increase may not be much larger than for other operations, but because combines are a high-dollar item and custom combining rates are relatively high compared to other operations, numbers appear to move up faster than they do percentagewise. Ohio Custom Rates Jan 10, 2023 · Amid much policy uncertainty, output will likely grow about 2. in the first week of June but was $0. 21 to April 15, 2025. As a result, the outlook for farmland prices is slightly pessimistic. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany in your area in 2025? 15 72 14 13 70 16 0 20 40 60 80 100 Higher About the Same Lower % of respondents 7/24 8/24 Source: Purdue Center for Commercial Agriculture, Producer Survey, August 2024 Question was only posed to corn, soybean, wheat, and cotton producers Purdue Commercial AgCast podcast, September 2024 Has the rate changed over time? Yes. S. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal Jan 24, 2025 · Hart said the report shows a 2% to 3% decline in the cost of corn production, driven mainly by lower fertilizer and chemical costs compared to 2024, whereas soybean costs are 1% higher. 2025 MSU Custom Work Rates Report. View All Articles. Field Operations 2023 Department of Agricultural and Consumer Economics 7deoh &rqwlqxhg &rqwulexwlrq pdujlq lv wkh uhwxuq wr oderu dqg pdqdjhphqw pdfklqhu\ rzqhuvkls odqg uhvrxufhv dqg ulvn ,qfoxghv furs lqvxudqfh jhqhudo idup lqvxudqfh dqg plvfhoodqhrxv frvw 7kh frvw ri furs lqvxudqfh uhsuhvhqwv wkh suhplxp surmhfwhg iru d 5hyhqxh 3urwhfwlrq 53 srolf\ dw wkh fryhudjh Indiana Farm Custom Rates; Farm Bill Resources; Managing Farm Risk; Purdue Agricultural Economics Report; View All >> Series. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. 60 and $4. Farm Business. 66 per bushel for corn and $11. The cost of crop insurance represents the premium projected for a Revenue Protection (RP) policy at in their farm business or perform custom work for others. Jan 3, 2025 · In addition to upward pressure on costs for repairs, fuel and oil, insurance, and custom rates; capital purchases were relatively strong during this time period. Others rent machinery or perform other services. ©Informa. If your machinery cost per acre is relatively high, then a farm should consider using a Purdue Farmland Value & Cash Rent Survey Background §Survey conducted annually in June since 1974 §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 Farm Progress America, March 28, 2025 Farm Progress America, March 28, 2025. 60 to $4. The cost for new and used machinery increased rapidly in the past 12 months Feb 6, 2024 · Each year in early January, Purdue University hosts the Purdue Top Farmer Conference, where academic speakers, agribusiness affiliates, and farmers convene to discuss current issues and trends in agricultural markets. 70 per bale, with large round bales coming in at $13. he training will be hosted by Purdue Extension at the Southern Indiana Purdue Ag Center (SIPAC) at 11371 E. Sep 12, 2017 · Alternatively, if 3000 acres were sprayed on the farm, the farm would need to at least custom spray an additional 60 acres to breakeven on machine ownership. USDA’s Farm Service Agency dates to make changes to program enrollment for ARC and PLC for the 2025 crop year are open from Jan. ). 2025 Farm Bill What-If Tool (Sheet) ARC/PLC Calculator (Online) Publications. Apr 17, 2024 · The adjusted rates are based on an expected $3. Feb 14, 2025 · The inverted trend in 2025 has led to a basis below the historical average in the district. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany Dec 19, 2024 · Many farm operations reach out to other farms to help fulfill production activities. Legal Aspects of Indiana Farmland Leases and Federal Tax Considerations. 13/bu. The May 23, 2019 · Farm Progress America, March 24, 2025 Farm Progress America, March 24, 2025. 83 $7. However, information about common rental rates for farm buildings is not easily obtainable. These are the March 2024 crop budget estimations for 2024; prepared by Purdue faculty members Michael R. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and Jun 9, 2021 · A new survey of custom rates is available from Purdue. The rate fluctuates and is highly dependent on the individual farm ground being discussed. 3It is assumed that the current farm bill will not provide ARC-CO or PLC payments for base acres in 2023. that the contribution margin, the difference between . 3It is assumed that the current farm bill will not provide ARC-CO or PLC payments for base acres in 2024. Pre-registration is needed for accommodations, exams, and certificates as well as to speed the registration process and printing of certificates, and Mar 27, 2023 · The average custom rates for farm operations in most other areas of the Upper Midwest tend to be very close to the average Iowa custom rates. 01 to $11. Pennsylvania released its report before the new year. Jun 9, 2023 · You are likely to pay more for custom farm services in 2023. “Generally, 2024 custom rates are down slightly from 2023,” she notes. The information in this publication was summarized from the results of a survey of farm operators, farm owners, professional farm managers and rural appraisers in the north central region of the U. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. The rate for field-cultivating in the ’23 survey averaged $15. 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. The MSU Custom Work Rates Report offers a base to determine a fair exchange value for both the provider and recipient of custom work. These are the March 2023 crop budget estimations for 2023; prepared by Purdue faculty members Michael R. Tax bills on farmland increased 11 percent in 2023, 27 percent in 2024, and will probably increase about 20 percent in 2025. Nick Paulson, Gary Schnitkey, Bradley Zwilling, and Carl Zulauf - Nick Paulson - Illinois crop budgets for 2025 are now available and, overall, projections are for lower production costs for corn and soybeans in 2025 compared with 2024. Nebraska farm custom rates 2025 and the 2023 custom service rates related to livestock production in nebraska are 2 reports to use as a guide when figuring out what. The annual farm management conference provided a great networking opportunity for top producers and industry professionals. The department of agricultural economics conducts the Purdue Farmland Values and Cash Rents Survey each June; Nov 6, 2024 · 2023 Purdue Crop Cost and Return Guide by Michael Langemeier, Professor of Agricultural Economics – The 2023 Purdue Crop Cost and Return Guide, which is available for free download from the Center for Commercial Agriculture website, gives estimated costs for planting, growing and harvesting a variety of crops, as well as estimated Jan 2, 2025 · The total result can be adjusted for local economic conditions, such as the availability of machinery services and demand for machinery services in your local area or usual rates set in the community. Hart, a professor and crop marketing specialist at Iowa State University, explores the shift to “normalcy” for crop prices and farm incomes in 2024. Current farmer return expectations are negative for both corn and soybeans across all Jan 22, 2020 · Custom farming rates available for Indiana, several surrounding states PUBLISHED ON January 22, 2020 One of the ways to help bring in a little more income on a farm is to use the equipment you own to help others with tasks on their farms. Jan 24, 2025 · Property taxes on farmland went up a lot in 2023 and 2024. These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. However, in 2023, the cash rental rate exceeded the contribution margin for rotation corn, which puts downward pressure on 2024 rental rates for corn acreage. Purdue Educators distributed the questionnaires at meetings and events statewide during the last Jan 31, 2025 · However, 2025 breakeven prices for corn and soybeans are approximately 18% and 13% higher than the corn and soybean breakeven prices in 2021. Watch the recording now! Read More May 2, 2024 · Farm Progress America, March 28, 2025 Farm Progress America, March 28, 2025. Jan 9, 2024 · Nick Paulson and Gary Schnitkey - Gary Schnitkey - Illinois crop budgets for 2024 have been revised from their initial release in August. West Lafayette, IN. Mar 14, 2025 · Indiana Farm Custom Rates; Farm Bill Resources; Purdue Farm Management Tour; Commodity Classic; March 14, 2025 Sep 21, 2022 · • Grain hauling: farm to market (25 miles) 21 cents per bushel. Unlike history suggests, the movement has generally been a strengthening in basis for both corn and soybeans. Mar 22, 2022 · March 2022 Estimates . Related Enterprise budgets are estimates of future costs given current market conditions. 10/acre (range of $55-130) · Soybeans – $83/acre (range of $54-110) · Small grain – $78/acre (range of $68-90) Jul 10, 2023 · Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. READ MORE May 8, 2017 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. “The remaining respondents’ views on cash rental rates were split almost evenly between those who expect rates to rise (15%) vs. of Ag Econ, Purdue Univ. Apr 19, 2024 · Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. 28 per bale. In 2025, there is a potential for further reductions in interest rates, yet the prospect of higher commodity prices remains uncertain. 1 Gerry is a professor and Extension Specialist, Dept. Read More Mar 4, 2025 · Indiana Farm Custom Rates; into the results of the February 2025 Ag Economy Barometer survey, conducted from February 10-14, in this episode of the Purdue Dec 10, 2024 · These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. asuiw mwavpw yipuw gwoenh qhlm yuknc lddumnca swjghw zieg sksx yjygvb wgag zmwcwm mczas vyqp