Many calls come in to the OSU Extension, Darke County office regarding cash rent and land values for our area. One of the tools we use to share with you unbiased factual information is the “Western Ohio Cropland Values and Cash Rents” document put together by Barry Ward, Leader, Production Business Management, Department of Agricultural, Environmental, and Development Economics.
Barry collects information from sources across western Ohio to compile the report. Below are his findings for this year.
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 eastern Ohio cropland values and cash rents. This is due to a number of factors including land productivity and potential crop return, the variability of those crop returns, field size, field shape, drainage, population, ease of access, market access, local market price, potential for wildlife damage, field perimeter characteristics and competition for rented cropland in a region. This article highlights the summary of data collected for western Ohio cropland values and cash rents.
Ohio cropland values and cash rental rates are projected to decrease in 2014. According to the Ohio Cropland Values and Cash Rents Survey, bare cropland values in western Ohio are expected to decrease from 4.0% to 5.4% in 2014 depending on the region and land class. Cash rents are expected to decrease from 0.1% to 3.1% depending on the region and land class.
The “Western Ohio Cropland Values and Cash Rents” study was conducted by surveying professionals with knowledge of Ohio’s cropland markets. Surveyed groups include farm managers, rural appraisers, agricultural lenders, OSU Extension educators, farmers, landowners, and Farm Service Agency personnel.
The entire survey summary is available online at:
http://aede.osu.edu/about-us/publications/western-ohio-cropland-values-and-cash-rents-2013-14
For more information about OSU Extension, Darke County, visit the Darke County OSU Extension web site at www.darke.osu.edu, the OSU Extension Darke County Facebook page or contact Sam Custer, at 937.548.5215.
