2018 Indiana Pasture Land, Hay Ground, and On-Farm Grain Storage Rent

¹Estimates for the current rental value of pastureland, hay ground, and on-farm grain storage in Indiana are often difficult to locate. For the past several years, questions about these items have been included in the Purdue Farmland Value Survey. These tables report the values from the June 2018 survey.

Tables 1, 2, and 3 report averages and the number of responses for pasture rent, hay ground, and the rental of on-farm grain storage, respectively. The rental rate for grain bins includes the situation where there is just a bin and the situation where there is a bin and utilities.

Table 1. Pastureland: Number of responses, annual cash rent, and carrying capacity, June 2018

Table 2. Irrigated farmland: Number of responses, estimated market value, annual cash rent and rent as a percent of farmland value, June 2018

Table 3. Rental of established alfalfa hay and grass hay ground, June 2018

Table 4. On-Farm grain storage rental: Number of responses and annual per bushel rent, June 2018

The first year for reporting this information was 2006. Past reports are in the Purdue Agricultural Economics Report Archive, http://www.agecon.purdue.edu/extension/pubs/paer/archive.asp. This information is typically found in the August issue of the specified year. However, 2016 results are in the February 2017 issue and the 2017 results are in the April 2018 issue.

1 This information is a summary of data collected June 2018 as part of the Purdue Farmland Value Survey.