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 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.
Farming is a complex business and many Ohio farmers utilitze outside assistance for specific farm-related work. Often, having someone else with specialized tools perform a task is more cost effective and saves time. Farm work completed by others is often referred to as "custom farm work". A "custom rate" is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider.
Ohio Farm Custom Rates 2020 reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020.