University of illinois custom farming rates 2023 2024 pdf Custom Aug 2, 2022 · The first release of the 2023 Illinois Crop Budgets is available on farmdoc. The rate of increase in machinery costs follows returns. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. 80 $12. Estimated machinery costs often are used in setting custom rates where one individual performs a field operation for another individual. "Machinery Costs on Illinois Grain Farms. Jul 1, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. edu/resource/custom-work-charges-maryland-and-delaware. Part II of the custom rates survey included questions about fall operations such as harvesting, hauling grain and livestock, as well as miscellaneous custom work activities on the farm. Summaries of FBFM records are available from 2018 to 2023 in a farmdoc publication entitled Revenue and Costs for Illinois Grain Crops. Summary Purdue Extension-Spencer County will1179@purdue. A “custom rate” is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. Although Missouri has a diverse mixture of crops, most responses were for a rotation of corn and soybeans. Like the rates for spraying, these numbers do not This report was highlighted during the August 15, 2023 Ag Talk Tuesday session, and it de-scribes current conditions and trends regarding Idaho crop farm profitability as we move toward the end of the 2023 growing season and into the 2023 – 2024 crop year. The budget projections provided in table 1 are Jun 5, 2024 · USDA-NASS county-based cash rent maps (irrigated/rainfed/pasture) for 2023, 2022 and 2021; Link to Ag Lease 101 Website; 2024 UNL Farm Custom Rates; 2023 UNL Custom Services Rates related to Livestock Production in Nebraska; 2022 Kansas State University Custom Rates Survey . Careful monitoring of trends in these numbers is needed to help make sound farm financial Jul 30, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. nass. Allowances for profit are not included. 50 3 farmdoc daily September 27, 2022 Fertilizer costs for corn were $175 per acre using September 23, 2021 price and increased by $72 per acre to $247 per acre using September 22, 2022, prices. 1. Costs are estimated for charges for Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates 3 farmdoc daily July 25, 2023 $412, an increase of $43 per acre. 50 19. " farmdoc daily (14):223, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, December 10, 2024. Zulauf. “Machinery Cost Estimates: Tractors. Illinois Farm Management Handbook, available by searching University of Illinois farmdoc. Mashange, G. Costs are projected to increase in 2023 from 2022 levels. The average 2024 flat rate charge was $0. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. Helpful Links. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm United States Department of Agriculture • Local Extension Councils Cooperating. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany The University of Idaho conducts a Custom Rates Survey every 4-5 years. 60 to $4. in determining custom rates and analyzing machinery costs on farms. Nick Paulson, Gary Schnitkey, Bradley Zwilling, and Carl Zulauf - Nick Paulson - Illinois crop budgets for 2025 are now available and, overall, projections are for lower production costs for corn and soybeans in 2025 compared with 2024. 80% versus 67. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. This average was about 6% higher than in 2022. 80/gallon as of June 2022 Hay Harvesting -Fuel Included Mow Hay Silage Chopping / Hour: $18/ acre Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates 2023 Michigan State University Custom Work Rates Acres/Hr Acres/Yr Fuel Other Tillage 0 $0 - - $ - Chisel Plow 23 Ft 200 HP MFWD $53,500 11. Mar 26, 2024 · Iowa State University Extension and Outreach has released the data from their 2024 Custom Farm Rate Survey, up a quarter from $7. Jan 9, 2024 · Nick Paulson and Gary Schnitkey - Gary Schnitkey - Illinois crop budgets for 2024 have been revised from their initial release in August. 01 to $11. 86 $1. The 2024 rent is another new record for Illinois and continues a trend of significant increases since 2020. Looking for something and want to search by keyword or just take a general look at ALL our resources? Click Search below! Custom Rates for Colorado Farms & Ranches in 2022 . 2021 Cost Estimates 3. Charging custom rates at estimated costs should cover all costs, but will not generate a profit. “Farm Machinery Costs and Custom Rates. Feb 4, 2007 · From time to time, Prairie Farmer gets requests for the custom rate estimates on various field operations. r t l n l d d e r y - r 0 0 0 0 0 r 0 0 0 0 0 r 0 0 0 0 0 custom operators examine the . 20. The numbers are based on surveys received from custom operators, farmers who hired custom work and farmers who performed custom work. If you are interested in a rate quotation for a specifc opera- 3Harvest corn price is December 2024 CME Group futures price less $0. 96 per acre in 2020. Information for Setting 2023 Cash Rents: Results from the Illinois Society suggest rising cash rents in 2023, though at lower rates than occurred in 2022. determining custom rates and for analyzing machin ery costs on farms. This summary is the product of an online survey which collected rates farmers paid for custom work performed in 2019. Percentage increase may not be much larger than for other operations, but because combines are a high-dollar item and custom combining rates are relatively high compared to other operations, numbers appear to move up faster than they do percentagewise. Machinery Costs; Finance; Illinois Crop Budgets and Historic Returns; Farmland Leasing; Whole Farm and Other Reports; ARC / PLC Decision; ARC/PLC Calculators. Both rates were higher than the respective averages of 2022. Flexible rental agreements and how they work. Fortunately, ag economists at the University of Illinois keep up on all those numbers, and have an entire listing of costs for various field operations located on their Farmdoc website. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. We have revised corn and soybean prices down, while cost adjustments were mixed. The main revision in the budgets is a reduction in the corn and soybean prices assumed for both 2023 and 2024, resulting in lower return and profitability projections. Current farmer return expectations are negative for both corn and soybeans across all Mar 28, 2023 · The 2023 custom farming rates for corn and soybean production are also expected to increase by about 10 to 12 percent compared to a year earlier, with an increase of nearly 20 percent in the past 2 farmdoc daily June 25, 2024 2. Swanson. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. Updated April 14, 2023; Farmland Leasing. Changes to various cost categories, generally leading to slightly lower costs across regions, which are based on observed costs for the 2023 crop and updated projections for 2024. The Ontario average custom rates are allocated across the six machinery-related expenses. Paulson, N. This publication shows estimated costs for owning and operating forage machinery. The data is based on 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm managers. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. Oct 28, 2024 · As combines continue to roll across Midwestern farm fields, the machines serve up reminders about the vast technological advancements in modern farming (see e. Zulauf, K. Nov 22, 2023 · March 2024 Estimates . 9M by the U. 00 per acre (Range = $75 - $280 per acre) Soybeans: $140. Machinery Management Iowa Farm Custom Rate Survey was mailed to 327 people by the US Postal Service and 232 people via email in early February 2022. February 14, 2024 weights to estimate median interest rates on newly originated real-estate and short- and long-term non-real estate debt for three groups of lenders: the Farm Credit System (FCS), commercial banks (hereafter, yields greater than bushels per acre58 Compared with the 2022 harvesting rates, both the base rate and extra . Farm Machinery Costs and Custom Rates Michael Langemeier Center for Commercial Agriculture Purdue University September 1, 2017 farmdoc daily (7):161 Recommended citation format: Langemeier, M. However, in 2023, the cash rental rate exceeded the contribution margin for rotation corn, which puts downward pressure on 2024 rental rates for corn acreage. Machinery Cost Estimates for 2021. Corn: $150. 416 per bushel or $39. "Fertilizer Prices, Rates, and Costs for 2023. Outlook for 2024 Cash Rents Apr 8, 2024 · AMES, Iowa — Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. Jun 25, 2024 · Nick Paulson, Gary Schnitkey, and Carl Zulauf - Nick Paulson - In this farmdoc daily article, we present revisions to the 2024 Crop Budgets for Illinois, highlighting changes from our January release for high-productivity farmland in central Illinois while discussing the more general trends across regions. , G. 30 for corn and $12. 06 per acre, an increase of $3. Brent YoungA. , and labor for the In 2023, the total noncapital living expenses of 1,345 farm families enrolled in Illinois Farm Business Farm Management averaged $97,100–or about $8,000 a month for each family. Budgets suggest a variable cash lease would result in similar rent levels to a fixed cash lease while a share rent lease would result in a lower Jan 7, 2025 · Nick Paulson, Gary Schnitkey, Carl Zulauf, and Jonathan Coppess - Nick Paulson - In December, the U. This information is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom operators, and farm managers. , N. The rates Sep 1, 2020 · Krista Swanson, Gary Schnitkey, Nick Paulson, Carl Zulauf, Jonathan Coppess - Krista Swanson - Combines are the largest cost machinery item on most Midwest grain farms. 03% for non-agricultural banks, and greater operational efficiency, reporting an average Efficiency Ratio of 65. extension. Farmer Others rent machinery or perform other services. Even given cost reductions, break-even prices Part I of the survey focused on spring and summer farm and ranch operations such as planting, tillage, and baling hay. The custom rate for spraying with a self-propelled sprayer, at just over $8 an acre for ’23, is based on 37 responses. 90 $11. Unfortunately, states in the South and West are noticeably underrepresented. 18 $3. Actual custom rates will be determined through the supply and demand for services within localized markets 2024 Nebraska Farm Custom Rates Report is often referred to as “custom farm work” or more simply, “custom work”. ” This University of Illinois-led study — funded for three years and $3. Average cash rent levels decreased slightly from 2023 to 2024 for all land productivity classes. 50 in 2023. of Reports Range Average Nov 26, 2024 · Nick Paulson, Gary Schnitkey, and Carl Zulauf - Nick Paulson - Lower returns to rented land and higher interest rates began to signal the potential for downward pressure on farmland values in 2023. Feb 13, 2024 · Nick Paulson, Gary Schnitkey, Carl Zulauf, and Ryan Batts - Nick Paulson - Given corn and soybean futures prices in the first half of February, projected crop insurance prices will be lower than in 2023, resulting in lower per acre premiums in 2024. Central Illinois is further divided into categories for high-productivity farmland and low-productivity farmland. Sep 20, 2023 · Illinois Farm Management Handbook. 70 per bale, with large round bales coming in at $13. 75 $11. usda. He disc using rates where only 1-2 states were included in the calculation. The lower costs predominately come from fertilizer price reductions. rvey . 70 Feb 17, 2023 · Redirecting to https://extension. Costs are estimated for charges for overhead (depreciation, interest, insurance, housing and repairs), fuel, and labor. University of Illinois at UrbanaChampaign-MACHINERY COST ESTIMATES: FORAGE FIELD OPERATIONS September 2023 . Only states that have updated rates since 2020 are included. S. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. 3% based on a USDA price index (described below). Sep 1, 2017 · Michael Langemeier - Numerous farms that are either hiring a custom operator or providing custom rate services to other farms use published custom rate surveys. services. Harvest prices were based on opening prices on December 5, 2023. Gregory Dr. March, includes 94 responses . and K. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates Dec 27, 2023 · Maryland and Delaware released a custom rate survey earlier this year, while Ohio and New York released custom rate surveys last year and will likely update them in 2024. Paulson, C. The information below is based on a survey of 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. The average flat rate in 2022 for harvesting wheat was $28. 101 Mumford Hall (MC-710) 1301 W. 2022 Cost to Produce Corn and Soybeans in Illinois: The total of all economic costs per acre for growing corn and soybeans in Illinois. 8% increase from June 2023. They supplied information based on their best judgments about typical cash rental rates for high, medium, and low quality The first estimated 2023 custom rate is calculated by increasing each cost by 23. Custom rate example. Jan 14, 2025 · Nick Paulson, Gary Schnitkey, Bradley Zwilling, and Carl Zulauf - Nick Paulson - Illinois crop budgets for 2025 have been revised from their initial release in September. Colorado State University Extension annually conducts a survey of custom rates charged for various crop and livestock operations and lease arrangements in Colorado. Consistent with these return expectations, professional farm Illinois Farm Management Handbook. A 3% decline would be in line with observed adjustments since the 1980s as well as The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Mar 25, 2024 · The 2024 custom farming rates for corn and soybean production are also expected to remain steady compared to a year earlier, following an increase of nearly 20 percent in the previous five years. Budgets are prepared to include all revenue and all financial non-land costs. percent reported a custom rate between $5 and $7 per acre, 21 percent reported a custom rate between $7 and $9 per acre, 11 percent reported a custom rate between $9 and $11 per acre, and 4 percent of the respondents reported a custom rate of $11 or more per acre. Revenue The University of Illinois and Iowa State University also offer some help. 70% in the fourth quarter of 2024. 84 per acre. These are the March 2024 crop budget estimations for 2024; prepared by Purdue faculty members Michael R. 80 18. Iowa Farm Custom Rate Survey was mailed to 316 people by the US Postal Service and 237 people via email in mid-February 2023. The 2025 report was published in the March edition of Ag Decision Maker and includes 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators and farm Oct 20, 2023 · This publication reports custom rates based on a statewide survey of 223 farmers, custom operators, farm managers, and landowners conducted in 2022. Schnitkey, G. The last The 2024 Missouri Cash Rental Rate Survey asked respondents to report the cash rent paid or received in 2023 and 2024, along with crops grown and experienced/expected yields for both years. , and labor for the Nov 4, 2021 · Topics 1. See the complete 2023 custom rate survey results online. The University of Illinois and Iowa State University also offer some help. 23 $4. Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. Harvest soybean price is November 2024 CME Group futures price less $0. Dropped University of Illinois Extension provides equal opportunities in programs and employment. These prices will change. These estimates are useful for . Dropped Total 2018 Farm Bill KANSAS ARC-County Payments ; Total 2018 Farm Bill NATIONAL ARC-County Payments ; Kansas 2023/2024 ARC-County Payment Rates ; National 2023/2024 ARC-County Payment Rates ; Kansas 2022/2023 ARC-CO Payment Rates ; National 2022/2023 ARC-CO Payment Rates I-FARM stands for “Illinois Farming and Regenerative Management. ” farmdoc daily (14):58, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, March 22, 2024. 56 per bushel for Dec 10, 2024 · The MSU Custom Rates Calculator spreadsheet is available for more in-depth evaluation of individual costs for custom operation. Extension and Outreach . United States Department of Agriculture • Local Extension Councils Cooperating. University of Illinois Extension provides equal opportunities in programs and employment Prepared by: Gary Schnitkey and Dale Lattz, Department of Agricultural and Consumer Economics, University of Illinois. This marginally improves projected corn returns, while projected soybean Apr 17, 2024 · These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. of Reports Range Average May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. 88 21. Cash Rental Rates for Iowa 2024 Survey The cash rental rate information presented in this publication is from a survey of farmers, landowners, agricultural lenders, and professional farm managers. Redirecting to https://extension. 2025 MSU Custom Work Rates Report Summary . The MSU Custom Rates Worksheet is a pdf version of this calculator. Paulson and C. 90 Moldboard plowing / acre 18. Based on recent futures market activity, the 2025 corn price has been increased to $4. Find the complete 2023 custom rates survey results online. edu Take the 2024 Land Rental and Custom Rates Survey Now! 2023 Custom Rates 2022 Custom Rates 2021 Custom Rates 2020 Custom Rates 2019 Custom Rates 2018 Custom Rates 2017 Custom Rates 2016 Custom Rates 2015 Custom Rates 2014 Custom Rates 2013 Custom Rates 2012 Custom Rates 2011 Custom Rates 2010 Custom Rates 2009 Custom Rates 6 farmdoc daily September 5, 2023 decline expected for 2024 reflects the lower returns expected for 2023 as well as expectations that 2024 returns will also be lower than in 2020-2023 (see Figure 5). Many Iowa farmers hire some custom machine work in their farm business or perform custom work for others. 81 per bale. 25 $11. 98 per acre in 2022. , and labor for the operation. Urbana, IL 61801 Email: extension@illinois. ” farmdoc daily (7):161, Department of Agricultural and Consumer Economics, University of Illinois at Urbana- Mar 12, 2025 · Agricultural banks demonstrated higher profitability, with an average Return on Assets of 1. Electronic data were collected from Oct 24, 2024 · "Perspectives and Strategies for Dealing with Low Farm Incomes in 2024 and Beyond. using rates where only 1-2 states were included in the calculation. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. For corn, 2024 variable costs are projected to Sep 20, 2023 · Illinois Farm Management Handbook. Comparison to 2019 costs 4. g. 97 from $27. Twenty percent of the respondents perform custom work, 14% The rates reported in this guide summarize a statewide survey conducted online and by solicitations of University of Missouri Extension specialists in the spring of 2023. ” Congressional Research Service, IF11199, May 3, 2019. It . 2025 Farmers use custom rates as a guide for machinery, budgeting, and financial planning. This year’s survey, published in May 7, 2024 · Ann Johanns, program specialist with ISU Extension and editor of Ag Decision Maker, says this year’s custom rates reflect the current farm economy. Custom Rates for Wheat Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Base Rate ($/Acre) Extra Charge for High Yield Dollar Per Acre No. Below is a list of states with a link to their most recent custom rate guides. Others rent machinery or perform other services. 35 basis. Download the free 2025 Farm Resource Guide. Stubbs, Megan. (Average) Current Diesel Fuel Price -$5. 75 for soybeans result in marginal profitability, similar to levels experienced from 2014 to 2019. There are also reminders that technology for conservation practices and sustainable farming systems has not advanced at the Figure 1 shows average machinery costs per acre for corn production on FBFM grain farms in central Illinois from 2003 through 2023, with current projections for 2024 and 2025. In addition, farmers will no doubt stress the Iowa State University Extension and Outreach has released the data from their 2024 Custom Farm Rate Survey, which provides average pricing for common agricultural services such as tillage, spraying and fertilizer application. Most corn and soybean producers across the Midwest completed the 2023 harvest season somewhat early and may now need to pay close attention to grain that is stored in on-farm Mar 28, 2024 · Custom Farming Rates (includes tillage, planting and harvesting costs):. Langemeier, Department of Agricultural Economics; Shaun Castell and Dan Quinn, Department of Agronomy; and Bill Johnson, Department of Nick Paulson from the University of Illinois provides an overview of recent data on Illinois farmland rental rates for 2023 and projections for 2024. 20 18. More detail on current return projections and crop budgets in Illinois for 2024 were released on farmdoc daily last week (August 29, 2023). 25 basis. 85 $11. The information below is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom operators, and farm managers. If 2022 was an indicator of the rising cost of farming, it appears that farmers may be facing the same increased rates this year. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. and B. 90 $12. he rates reported in this guide summarize . 10 from $24. 13 $6. . Estimating Farm Machinery Costs, available by searching Iowa State University agriculture decision maker and machinery management. Mar 27, 2023 · Average 2023 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. 30 per bushel while the soybean price has been reduced to $10. to the Sep 17, 2021 · University of Illinois ag economists publish machinery cost estimates intended to represent the actual costs associated with individual farm field operations, which can provide a baseline for setting a custom rate to ensure that costs are covered. This year’s survey, published in March, includes 94 responses and 2,621 custom rates for tasks related to tillage, planting and seeding, spraying, harvesting, farm labor and more. 36$ 0. , and labor for the Revised April 2024 Historical Iowa Farm Custom Rate Survey Averages Tillage 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Chopping cornstalks / acre $13. University of Illinois at UrbanaChampaign-MACHINERY COST ESTIMATES: SUMMARY September 2023 estimates are useful for determining custom rates and for analyzing machinery costs on farms. These are the updated February 2025 crop budget estimations for 2025; prepared by Purdue faculty members Michael R. 66 per bushel for corn and $11. To obtain the lowest costs, newer combines must be used on 1,500 acres or more Nov 21, 2023 · Check grain bins. ” Department of Agricultural and Consumer May 2, 2023 · Custom rates summarized in the recent 2023 Purdue custom rates survey indicate rising prices for harvesting and hauling grain. in their farm business or perform custom work for others. edu 1101 E CR 800 N Chrisney, IN 47611 812-362-8066 spencerces@purdue. market, Iowa State University . We asked farmers, agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2022 for custom services, excluding the cost of Farm custom rates may differ significantly from one area in the state to another based on availability of custom operators and demand for their services. Twenty percent of the respondents perform custom work, 16% August 2024 Early Season Custom Farm Work Rates Page 3 FERTILIZER AND PESTICIDE APPLICATION AND HAYING OPERATIONS STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation 20 24 2020 Average Rate 20 4 as Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate (number )(dollars per acre) (percent FERTILIZER APPLICATION 2 farmdoc daily September 24, 2024 The farm records from Illinois Farm Business Farm Management (FBFM) provide historical data for the 2025 projections. Postal Service and 633 people via e-mail in February 2025. Ohio Farm Custom Rates . related to tillage, planting and . and 2,621 custom rates for tasks . Mar 23, 2023 · In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. Here are comments related to fertilizing and spraying tasks: Most responses. Download 2024 Custom Rates Report You're viewing a specific archive. Machinery costs on corn acres have increased over time, from $44 per acre in 2003 to $162 per acre in 2023. iastate. Custom farming resulted in the highest return among these arrangements. ” University of Illinois Extension, Farm Business Management, June 2017 (a). “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. The 2022 Iowa Farm Custom Rate Survey is intended as a guide in determining custom rates. Those rates tend to be slightly higher, Langemeier says. May 2024 . “2017 Iowa Farm Custom Rate Jun 27, 2022 · 2022 Custom Rates & Fees The following custom rates should be used only as a guide in establishing custom rates. Average farmland rental rates by county with current projections. ” Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, December 5, 2022. upward pressure on cash rental rates, as farm operators will have additional revenues to allocate to labor, investment, and land. Custom Rates for Wheat Harvest, 2022, by District District . The Farm Service Agency recently announced the Emergency Commodity Assistance Program (ECAP) application process and the per acre payment rates for Nick Paulson, Gary Schnitkey, Carl Zulauf, and Jim Baltz - Nick Paulson - Lower corn and soybean prices and elevated production costs suggest much lower, and potentially negative, farmer return levels across Illinois for the 2023 and 2024 crop years. This article discusses these impacts, with a focus on the $10 billion in Illinois Extension. 65 18. edu Jan 3, 2025 · Center for Farm Financial Management, University of Minnesota, FINBIN web site, accessed December 17, 2024. Plastina, Alejandro and Ann Johanns. Overall, cash rents rose between 2021 and 2022. Those signals continue, with current fundamentals suggesting land value reductions of around 3% in 2025. The complete 2023 “Iowa Farm Custom Rate Survey” for all farming practices is available on-line at the following Iowa State University web site: https://www. These estimates aid . We provide machinery cost estimates which may be helpful in setting custom rates. Department of Agriculture’s National Institute of Food and Agriculture (NIFA) — is developing an 80-acre agricultural testbed, where commodity crops, cover crops, and livestock are farmed using synergistic, sustainable practices. , Castillo, June 3, 2024; Farm Progress, February 15, 2024). 50 18. Prior year’s statements of income and expenses can provide information on equipment repairs, maintenance and The University of Idaho conducts a Custom Rates Survey every 4-5 years. Farm Resource Guide. The information below is based on 94 responses and 2,621 custom rates provided by Iowa farmers, custom operators, and farm managers. Schnitkey and C. umd. The average farms for these groups are in strong financial positions which will be needed with projected much lower incomes for 2024 and 2025. Charging custom rates at estimated costs should cover costs, but will not generate profits. “2018 Farm Bill Primer: Title II Conservation Programs. 45 19. Surveys were Oct 18, 2024 · Bradley Zwilling - Brad Zwilling - The financial results on all Illinois farms show that on average 2023 was another good financial year even with lower incomes. Mar 21, 2025 · Estimates for tillage, planting and seeding, spraying, harvesting, farm labor, and other custom services are included, along with new categories ground spraying with a self-propelled tall-crop sprayer and liquid fertilizer high-clearance application with a drop hose and Y spray nozzle. Feb 15, 2024 · Jonathan Coppess - Jonathan Coppess - Farm Bill reauthorization has failed to launch; it is the hidden demand for increasing reference prices, not matched by any actual proposals and shielded from public scrutiny, that blocks any potential for progress. farmdoc daily. charge were higher , while the average yield where the extra rate is charged was lower in 2024. The average price of top-quality farmland reached $14,392 per acre, a 4. “Illinois Crop Budgets, 2023. Most of the rates are stated per acre, cwt. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal custom rates. Rate Survey. Harvest Operations 2023 Aug 29, 2023 · Gary Schnitkey, Nick Paulson, Carl Zulauf, and Jim Baltz - Gary Schnitkey - In today’s farmdoc daily article, we take a look at corn and soybean budgets for 2024, which are now available. ” University of Illinois Extension, Farm Business Management, June 2017 (b). This publication shows estimated costs for combining, using grain carts, and hauling grain. 07% compared to 1. Here is how to interpret the custom rate table, using the corn planting scenario as an example: No-till or conventional? For this example, look at no-till. Baltz. May 2023 . Zwilling. Additions . 40 $12. “Liquidity Trends for Illinois Farms: Comparing Farms by Gross Farm Returns from 2003-2022. Over time, corn yields have increased at an average rate of about 2. Mar 12, 2025 · The American Relief Act of 2025 authorized $10 billion in economic assistance payments to partially offset economic losses suffered by producers of eligible commodities during the 2024 crop year. 40 $11. University of Illinois Extension provides equal opportunities in programs and employment Table 1 shows estimated costs of performing agricultural field operations. These estimates are useful for determining custom rates and for analyzing machinery costs on farms. “Revenue and Costs for Illinois Grain Crops, Actual for 2015 through 2021, Projected 2022. Swanson and J. To view Sep 27, 2022 · Recommended citation format: Schnitkey, G. 78 billion for disaster aid to farmers, and 3) appropriated $10 billion in economic assistance payments to farmers. 28 per bale. Experience is the best guide to help budget machinery costs. Tranel, and R. The vast imbalance among farmers with base acres in different commodities, as reinforced in the latest CBO projections, continues to beg Jul 1, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. Congress passed legislation that 1) continued the current farm bill into 2025, 2) appropriated $20. 87 $1. ). Number of respondents. Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. Aug 29, 2017 · “Machinery Cost Estimates: Field Operations. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm Nick Paulson, Gary Schnitkey, Carl Zulauf, and Jim Baltz - Gary Schnitkey - In today’s farmdoc daily article, we discuss information for setting 2024 cash rents. Department of Agricultural and Consumer Economics • College of Agricultural, Consumer and Environmental Sciences . “Generally, 2024 custom rates are down slightly from 2023,” she notes. 00 per acre (Range = $71 - $280 per acre) Tillage Custom Rates for Farm Services in Missouri T. At projected cost levels, per bushel prices of $5. edu/programs/agriculture-food-systems/program-areas/farm-and-agribusiness-management/grain-marketing/custom-rates. Methodology 2. Added to the list this year was Pennsylvania. The rates calculated here are averages for these states and are adjusted to account for changes in fuel price, machinery costs1, and wages2 from the time of the reported surveys. Table 1 shows estimated costs of performing agricultural field operations. The average rate for baling medium large round bales is $12. As a final note, these rates are published to provide a baseline for estimating reasonable custom machinery rates in Kentucky (as well as estimating production costs). If your machinery cost per acre is relatively high, then a farm should consider using a Mar 24, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 20 20. Electronic data was collected from 3 farmdoc daily January 9, 2024 • Yields for 2024 are assumed to be at trend levels which come from estimates based on historical yields. 80 $14. Premiums are likely to be 16 to 18% for lower for corn policies and 10 to 12% lower for soybean policies based on current estimates in Champaign Cooperating with the Pennsylvania Department of Agriculture Northeastern Regional Field Office 4050 Crums Mill Rd, Suite 203 Harrisburg, PA 17112 (717) 787-3904 www. Harvest wheat price is July 2024 CME Group futures price less $. This publication reports custom rates based on a statewide survey. Results from the Illinois Society suggest rising cash rents in 2023, though at lower rates than occurred in 2022. FBFM cash rents likely increased in 2023, perhaps not as much as the ISPFMRA average. Oct 12, 2021 · Machinery costs would have been higher had not interest rates been reduced from 2019 to 2021. 2 3 purchasing multiple combines on a regular basis can likely negotiate a better purchase price than a farmer that purchases only one combine every several years). purdue. 2024 Forecast Forecasts for Illinois production costs in 2024 look to decrease using the Department of Agricultural and Consumer Economics at the University of Illinois’s 2024 crop budgets and the USDA’s Cost-of-Production Forecasts as a guide. " farmdoc daily (14):183, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, October 8, 2024. 0 bushels per year Mar 21, 2024 · For Excellent quality farmland, traditional crop shares in 2023 averaged an income of $350 per acre, cash rents averaged $350 per acre, and custom farming averaged $370 per acre. Ohio State Extension recommends growers calculate their own costs before determining the custom rate to charge or pay. Between 2020 and 2024, average cash rents in Illinois 2023 Land Rental & Custom Rates for ColoradoFarms & Ranches . The second estimated 2023 custom rate is calculated by increasing the 2020 cost by the same percentage that the Iowa Custom Rate for that operation (or a similar operation) increased from 2020 to 2023. Break-even prices to cover all costs, including cash rent for farmland, range from $4. For each type of work, the average rate from the In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. This worksheet is also included in the 2025 MSU Custom Work Rates Report publication. Projected 2023 and 2024 farmer returns in Illinois are currently negative, reflecting a significant shift from the high farmer returns achieved in 2020, 2021, and 2022. Costs include overhead (depreciation, interest, insurance, housing and repairs), fuel and labor. Overall, projections are for lower costs on both corn and soybeans in 2024 than in 2023. 2024 Survey Responses and Energy Costs Below are tables summarizing the results of the 2024 Ohio Farm Custom Rate Survey United States Department of Agriculture • Local Extension Councils Cooperating University of Illinois Extension provides equal opportunities in programs and employment. This year’s survey, published in . This guide includes useful forms and farm business management information including: Custom rates: What to charge for planting, etc. Postal Service and 633 people via email in February 2025. Jun 9, 2023 · You are likely to pay more for custom farm services in 2023. a statewide survey conducted online and by solicitations of University of Missouri Extension specialists in the spring of 2023. Lattz, Dale and Gary Schnitkey. Actual custom rates will be determined through the supply and demand for services within localized markets Sep 13, 2022 · The Illinois Society of Professional Farm Managers and Rural Appraisers released their projections of 2023 rents on professionally managed farmland. seeding, spraying, harvesting, farm labor and more. is recommended that you use your records to derive your costs. 85 711 $3. We asked farmers, agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2022 The average flat rate in 2024 for harvesting wheat was $31. The 2024 report, which can be viewed online , was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa Sep 3, 2024 · The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2024 at $269 per acre, up by $10 per acre from $259 per acre for 2023 (see Figure 2). , Feb 10, 2025 · February 2025 Estimates . Costs University of Illinois June 2024 This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and University of Illinois at UrbanaChampaign-MACHINERY COST ESTIMATES: HARVESTING September 2023 . CCE welcomes feedback that will help keep this guide up to date and accurate. "farmdoc daily (12): 148 2. Jenny Beiermann, Jeffrey E. 95 per acre, an increase of $3. As such, periodically evaluating whether owning or out-sourcing combining is prudent, particularly at the point where a combine needs replacement. edu extension. 40 18. 2025 Farm Bill What-If Tool (Sheet) ARC/PLC Calculator (Online) Publications. publishes the Iowa Farm Custom . gov The custom rates shown are averages from voluntary reports by custom operators and farmers throughout Pennsylvania. Title: SKM_C300i23041714050 Created Date: 4/17/2023 2:05:50 PM Mar 17, 2025 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. ulht uvghe hepcfpy vwuav frjbiv smprsa zvyj mvszej vhsmr bnodq buxtqu crxo dhdpykd bbyzp qxjy