Cash Rent

National Ag Statistics Service (NASS) Releases Cash Rental Rates

From the desk of Barry Ward, Leader, Production Business Management, Director, Income Tax Schools at The Ohio State University

 The Ohio State University, College of Food, Agricultural and Environmental Sciences, Ohio State University Extension, 614-688-3959 Office, ward.8@osu.edu

https://farmoffice.osu.edu/

The USDA NASS Ohio Cash Rent County Estimates for 2024 were released yesterday by NASS this past Friday. The attached Formatted USDA NASS Survey County Average Cash Rents Summary 2017-2024 contains the 2017 through 2024 Ohio county average estimates. This data can be accessed directly through NASS Quick Stats at https://quickstats.nass.usda.gov/.

USDA National Ag Statistics Cash Rent Estimates release on Friday, August 25

The USDA NASS Ohio Cash Rent County Estimates for 2023 were released by NASS this past Friday. The attached Excel file contains the 2017 through 2023 county average estimates. This data can be accessed directly through NASS Quick Stats.

https://quickstats.nass.usda.gov/

Ohio NASS will have their formatted summary for 2023 available sometime in the near future: https://www.nass.usda.gov/Statistics_by_State/Ohio/Publications/County_Estimates/index.php

Attached is a Formatted PDF of the data for simpler viewing with a comparison of the change in cash rent for all counties in Ohio from 2017-2023.

Western Ohio Cropland Values and Cash Rents Survey Summary 2022-23

The Western Ohio Cropland Values and Cash Rents Survey Summary 2022-23 has been published to the Farm Office page:

https://farmoffice.osu.edu/farm-management-tools/farm-management-publications/cash-rents

A blog post is also available highlighting the key findings:

https://farmoffice.osu.edu/blog/tue-08292023-1159am/western-ohio-cropland-values-and-cash-rents-2022-23

New Farm Lease Law & Ohio Farmland Leasing Update Webinar

From Peggy Kirk Hall, Associate Professor, Agriculture, and Resource Law Program

Lawsuits over late terminations of farm crop leases might reduce after a new law in Ohio takes effect on July 21, 2022.  The law will affect situations where the parties in a farm crop leasing arrangement have not addressed a date or method for terminating the lease–typically verbal leases, although a written lease might also fail to address termination.  A landlord in those situations who wants to end the crop lease will have to do so by delivering a written notice of termination to the tenant operator by September 1.  A late attempt by the landlord to terminate the lease after September 1 would not be effective and the lease would continue for another crop year, although a tenant operator can choose to agree to accept a landlord’s late termination. Continue reading New Farm Lease Law & Ohio Farmland Leasing Update Webinar →

Survey for Ohio Cropland Values and Cash Rental Rates

Hello ANR Friends,

We are once again surveying ag professionals (Extension Educators, Farm Service Agency CEDs and County Committees, financial officers/lenders, appraisers, and others) across Ohio to generate information for those interested in farmland. You might notice that our timing is different this year. We hope that you’ll still be able to assist in this important survey effort for Ohio. We value your thoughts and responses greatly!

This year, there are three options to complete the short survey.

  1. Complete the survey online at: https://go.osu.edu/ohiocroplandvaluescashrents2122
  2. Complete the attached survey (Ohio Cropland Values and Cash Rents Short Survey 2022) by printing it out, filling it out, scanning, and emailing the completed survey back to ward.8@osu.edu
  3. Complete the survey in the body of this email and return it to ward.8@osu.edu (Please see the survey at the end of this email.)

You can also access the online survey through this QR code:

If you’re able to assist with this effort, we ask you to please complete the online or attached survey by April 30th, 2022.

All survey data will be anonymous and distributed only in a summary format. Summary conclusions from the latest survey of agriculture professionals, the “Western Ohio Cropland Values and Cash Rental Rates 2020-21”, are available online at: https://farmoffice.osu.edu/farm-management-tools/farm-management-publications/cash-rents

I would like to thank the many of you that have taken the time to share your thoughts and information with us in the past and thank you all in advance for your valuable time in providing data for this research! We expect it to benefit you and your clientele. Summary data of this research will be available via our Farm Office website: https://farmoffice.osu.edu/ and the free online OSU Extension newsletter, “Ohio Ag Manager”. Subscribe to receive this electronic newsletter at:  http://ohioagmanager.osu.edu/

Thank you!
Barry Ward, Director, OSU Income Tax Schools
Leader, Production Business Management
College of Food, Agricultural, and Environmental Sciences
Ohio State University Extension
614-688-3959 Office
ward.8@osu.edu
https://farmoffice.osu.edu/

Farmland Laws & Leasing Workshop

Join the Defiance County Extension Office in the Farmland Laws & Leasing Workshop on Wednesday, February 9, 2022 – 9:30 am to 12:00 pm

Be sure to catch an Agricultural Outlook and Policy Meeting this winter

by: Mike Estadt, OSU Extension, estadt.3@osu.edu

The Ohio State University Extension is pleased to announce the Regional Ag Outlook and Policy Meetings for 2022.  Meetings will be held around the state beginning the last of January and ending in March.

Speakers will address a myriad of topics of agriculture interest here in Ohio as well as across the Corn Belt.  Programs will include presentations on Grain Market Outlook, Ag Law Updates, Dairy Industry 2022, Ohio’s Changing Climate, Farm Policy, and Farm Bill, SB 52: Utility Solar Legislative, Farm Real Estate, and Cash Rent Trends, Ag Input Price Projections, and Federal Tax Updates.

New to this year’s program is the statewide sponsorship and support of the Ohio Corn and Wheat Growers Association.

“We are proud to partner with Ohio State University  Extension educators across the state to support this year’s agronomy, outlook, and grower meetings.  We value this partnership and look forward to supporting programs that bring value to our member’s farm businesses”, according to Brad Moffitt, Director of Membership and Market Development for the Ohio Corn and Wheat Growers Association.

The following table lists the scheduled Outlook programs with contact information to register. Continue reading Be sure to catch an Agricultural Outlook and Policy Meeting this winter →

Western Ohio Cropland Values and Cash Rents 2020-21

Thursday, August 26th, 2021
Barry Ward, Leader, Production Business Management

Ohio cropland varies significantly in its production capabilities and, consequently, cropland values and cash rents vary widely throughout the state. Generally, western Ohio cropland values and cash rents differ from much of southern and eastern Ohio cropland values and cash rents. The primary factors affecting these values and rents are land productivity and potential crop return, and the variability of those crop returns. Soils, fertility, and drainage/irrigation capabilities are primary factors that most influence land productivity, crop return and variability of those crop returns.

Other factors impacting land values and cash rents may include field size and shape, field accessibility, market access, local market prices, field perimeter characteristics and potential for wildlife damage, buildings and grain storage, previous tillage system and crops, tolerant/resistant weed populations, USDA Program Yields, population density, and competition for the cropland in a region. Factors specific to cash rental rates may include services provided by the operator and specific conditions of the lease.

The Western Ohio Cropland Values and Cash Rents study was conducted from January through April in 2021. The opinion-based study surveyed professionals with a knowledge of Ohio’s cropland values and rental rates. Professionals surveyed were rural appraisers, agricultural lenders, professional farm managers, ag business professionals, OSU Extension educators, farmers, landowners, and Farm Service Agency personnel.

The study results are based on 94 surveys. Respondents were asked to group their estimates based on three land quality classes: average, top, and poor. Within each land-quality class, respondents were asked to estimate average corn and soybean yields for a five-year period based on typical farming practices. Survey respondents were also asked to estimate current bare cropland values and cash rents negotiated in the current or recent year for each land-quality class. Survey results are summarized below for western Ohio with regional summaries (subsets of western Ohio) for northwest Ohio and southwest Ohio.

According to the Western Ohio Cropland Values and Cash Rents Survey, cropland values in western Ohio are expected to increase in 2021 by 3.8 to 5.3 percent depending on the region and land class. Cash rents are expected to increase from 3.6 to 3.9 percent depending on the region and land class.

For the complete survey research summary go to the OSU Extension Farm Office website at:

https://farmoffice.osu.edu/farm-management-tools/farm-management-publications/cash-rents

Western Ohio Cropland Values and Cash Rents 2020-21

Ohio Cropland Values and Cash Rents 2021 Survey

From the desk of Barry Ward

We are once again surveying ag professionals/farmers/landowners across Ohio to generate information for those interested in farmland. You can assist us by completing the online survey (new option this year) or by completing the attached survey and returning by email to: (ward.8@osu.edu). (Paper Survey Ohio Cropland Values and Cash Rents 2021 Survey)

We are asking you to please complete the online or attached survey by March 31st, 2021. The Ohio Cropland Values and Cash Rents 2020-21 Survey is being conducted by The Ohio State University College of Food, Agricultural, and Environmental Sciences. (I hope that you’ll excuse any duplicate requests that you may receive.)

The online survey is available at:

OhioCroplandValuesCashRents202021 or https://osu.az1.qualtrics.com/jfe/form/SV_eXlA7B6jbgSoRGC

  • For those that don’t have information to report on Flexible Cash Leases or Crop Share Leases please skip Parts 2 and 3 before you proceed to submit your survey.
  • All survey data will be anonymous and distributed only in a summary format. (See last year’s summary at the web address below.)

Summary conclusions from the latest survey of agricultural professionals, the “Western Ohio Cropland Values and Cash Rental Rates 2019-20”, are available online at:

https://farmoffice.osu.edu/farm-management-tools/farm-management-publications/cash-rents

I would like to thank the many of you that have taken the time to share your thoughts and information with us in the past and thank you all in advance for your valuable time in providing data for this research! We expect it to benefit you and your clientele. Summary data of this research will be available via our Farm Office website: https://farmoffice.osu.edu/ and the free online OSU Extension newsletter, “Ohio Ag Manager”. Subscribe to receive this electronic newsletter at http://ohioagmanager.osu.edu/

Thank you!

Western Ohio Cropland Values and Cash Rents 2019-20

by: Barry Ward, Leader, Production Business Management, Director, OSU Income Tax Schools, College of Food, Agricultural and Environmental Sciences, OSU Extension

Ohio cropland varies significantly in its production capabilities and, consequently, cropland values and cash rents vary widely throughout the state. Generally speaking, western Ohio cropland values and cash rents differ from much of eastern Ohio and parts of southern Ohio cropland values and cash rents. The primary factors affecting these values and rates are land productivity and potential crop return, and the variability of those crop returns. Soils and drainage capabilities are the two factors that heavily influence land productivity, crop return, and variability of those crop returns.

Other factors impacting land values and cash rents may include buildings and grain storage, field size and shape, field accessibility, market access, local market prices, field perimeter characteristics and potential for wildlife damage, previous tillage system and crops, tolerant/resistant weed populations, population density, USDA Program Yields, and competition for the cropland in a region. Ultimately, the supply and demand for cropland will determine the value or rental rate for each parcel. Continue reading Western Ohio Cropland Values and Cash Rents 2019-20 →