Posts tagged ‘farmland cash rent’

2010 Agriculture Cash Rent Data for NW Ohio Released

The following was developed and compiled through great research conducted by Barry Ward, Ohio State University Extension , Production Business Management.

Ohio is a diverse state agriculturally and cropland values and cash rents vary tremendously across the state. Generally speaking, western Ohio cropland values and cash rents differ a fair amount from eastern Ohio cropland values and cash rents. This is due in part to one of any number of factors including land productivity and potential crop return, variability of crop return, field size, field shape, drainage, population, and ultimately the supply and demand of rented cropland in an area.

Ohio cropland values show signs of remaining stable to falling slightly in 2010 while this survey indicates cash rent levels will see little change in 2010. According to the Western Ohio Cropland Values and Cash Rents Survey bare cropland values are expected to decrease from 0.1% to 3.1% in 2010 depending on the region and land class. Cash rents are expected to range from a decrease of 1.5% to an increase of 3.19% depending on the region and land class.

Ninety-five surveys were completed, analyzed and summarized. Respondents were asked to give responses based on 3 classes of land in their area; “top” producing land, “average” producing land and “poor” producing land.

Tables show the average (Avg) (simple average) of each row, standard deviation (Std) of the data for that measure (measure of variability), average plus one standard deviation (Avg + 1 Std), and average minus one standard deviation (Avg – 1 Std). These latter two numbers reported indicate a range within which about two-thirds of the responses in the data for that measure will fall.

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April 14, 2010 at 12:55 pm

Tips for Obtaining County Cash Rent Data from NASS

Thanks to the folks at National Agricultural Statistics Service (NASS), we now have county-based cash rent information.  I’ll save you a few steps if you are interested in cash rent for Van Wert County. The cash rent for marketing year 2008 was $126/acre.

Here is the procedure I recommend you use to get the data for your area:

1. start at the NASS homepage http://www.nass.usda.gov/

2. navigate to the left sidebar and click on ‘Economics’, which brings you to this page http://www.nass.usda.gov/QuickStats/indexbysubject.jsp?Pass_group=Economics

3. select ‘cash rents’ then hit the search button

4. Select: County Cash Rents Data Query –

5.  Under “Select Location” – “Locale” select: COUNTY

6. Under “State” select: OHIO (or whatever state you have an interest)

7. You can select an individual county but I recommend you skip that and go to the bottom and select: Get Data

This will give you county by county cash rent averages from this Ag Stats survey for the entire state.  From what I can see based on Van Wert County, this data is fairly representative and is a good place to begin the cash rent negotiation process.

May 4, 2009 at 11:58 am


Notice

This blog is no longer being maintained. Information on this blog may still be relevant, but for the latest agronomic information and farm management information please visit http://corn.osu.edu and http://ohioagmanager.osu.edu, respectively.

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