Hay Ground, and On-Farm Grain Storage Rent

August 16, 2017

PAER-2017-13

Authors: Craig Dobbins, Professor of Agricultural Economics and Kim Cook, Research Associate in Agricultural Economics

Estimates for the current rental value of pasture land, 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. The values from the June 2017 survey are reported here. Because the number of responses for some items is small, the number of responses is reported.

Averages for pasture rent, hay ground, and the rental of on-farm grain storage are presented in Tables 1, 2, and 3, 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 2017

Table 2. Rental of established alfalfa and grass hay ground, June 2017

Table 3. On-Farm grain storage rental: Number of responses and annual per bushel rent, June 2017

Information from prior years’ surveys can be found in the Purdue Agricultural Economics Report archive, http://www.agecon.purdue.edu/extension/pubs/paer/archive.asp. This information can be found in the August issue beginning in 2006. This information for 2016 is in the February 2017 issue.

 


1This information is a summary of data collected June 2017 as part of the Purdue Farmland Value Survey.

Publication Appeared Within:

Latest Articles:

Indiana Farmland Prices Continue to Rise in 2023

August 7, 2023

State-wide farmland prices in Indiana once again hit a new record high in 2023. The growth, however, was relatively modest compared to the record high appreciation observed in 2022.

READ MORE

Trends in Farmland Price to Rent Ratios in Indiana, 2023

August 7, 2023

The P/rent ratio (price per acre divided by cash rent per acre) is substantially higher than historical values. In order to maintain the current high farmland values, cash rents would have to remain relatively high, and interest rates would also have to remain relatively low.

READ MORE

Cash Rental Rates: USDA-NASS vs. Purdue Survey

August 7, 2023

When setting cash rental rates, farmers and landowners should consider information from both the Purdue survey and USDA-NASS. Inside this article, we compare the findings from both surveys.

READ MORE

Delivered right to your inbox

The Purdue Agricultural Economics Report is a quarterly publication written by faculty and staff from the Department Agricultural Economics at Purdue University.

By joining this mailing list, you will receive an email when a new publication is released. This mailing list is kept solely for the purpose of sharing the report and is not used for any other purposes.