Skip to Main Content

Purdue Releases Results of Farmland Value Survey

farmValue.jpg

Purdue Releases Results of Farmland Value Survey

The annual Purdue Farmland Value and Cash Rent Survey was released recently, suggesting that farmland values across Indiana have risen to all-time highs in 2021. Statewide, top quality farmland averaged $9,785 per acre, up 14.1% from the same time last year. Top quality farmland here in West Central Indiana came in at $10,970 per acre, a 17.9% increase from last year. According to survey respondents, average ground increased 12.5% state-wide and 15.5% locally (to $9,382/acre), while poor farmland increased 12.1% state-wide and 17% locally (to $7,849/acre).

According to Purdue Ag Economist Dr. Todd Kuethe, “A unique combination of economic forces, including net farm income, expected income growth, crop and livestock prices, interest rates, exports, inflation, alternative investments, U.S. policy, and farmers’ liquidity, all played a major factor in the price increase we’re experiencing. Normally we’ll see positive price pressure from one or two market forces; however, this June, survey respondents indicated that all 10 forces we asked them about were putting upward pressure on land values.”

Cash rent prices of all land classes also increased around the state and in West Central Indiana, though not as significantly as land value. State-wide, top, average and poor farm ground averaged rent values of $269, $227, and $183 per acre, respectively. Locally, those figures came out to $302, $262, and $222, respectively. Ground is classified based on its productivity, with the indicator being average corn yield per acre. In our part of the state top ground is considered yield of 217 bushel/acre, average ground 193 bushel/acre, and poor ground 165 bushels per acre.

The full report is available for viewing at the Purdue Center for Commercial Ag website: https://ag.purdue.edu/commercialag/home/ Or if you would like a copy please call (219-984-5115) or stop by the Purdue Extension Office of White County located at the fairgrounds in Reynolds, or e-mail me at awestfal@purdue.edu.

The Purdue Ag Econ Report is a quarterly publication, which you can subscribe to by visiting the website above. For more information on ag economics, I would recommend clicking around on the website further. In addition to farmland values, you will also be able to access helpful information on ag policy, crop insurance, farm finance, business management, timely outlook webinars and more.

Featured Stories

Purdue Extension.
Crops Field Day Returning to ACRE

Crops Field Day Returning to ACRE The annual Crops Field Day at ACRE (Agronomy Center for Research and Education located at 4530 US-52, West Lafayette, IN 47906) will be back in person this year, providing farmers and agribusinesses an...

Read More
Purdue Extension.
Coping With Picky Eating

Lead by example: As a parent or caregiver, you are your child’s most important role model – especially when it comes to making healthy choices. If you eat healthy and try new foods, children will too.

Read More
Purdue Extension.
Results from Annual Purdue Farmland Value Survey

The COVID-19 pandemic will undoubtedly be the defining economic event of 2020 and beyond, and has brought uncertainty to markets around the world. How has it impacted farmland values around the state of Indiana? This and other economic issues in...

Read More
Purdue Extension.
Purdue Advising Farmer's to Scout for Tar Spot in Corn

According to Purdue Field Crops Disease Specialist Darcy Telenko, it is important to continue to scout for diseases in both corn and soybeans in the coming days and weeks. Recent rains around the state have created favorable environmental...

Read More
Purdue Extension.
Preserve Your Food Safely

We have seen an increase in gardens, as people have had more time at home due to the pandemic, we have also seen an increase in food preservation. If you are putting the time and effort into food preservation, you want to ensure that you have a...

Read More
Purdue Extension.
Drier Weather Bringing on Pesky Lawn Weed

Rains over the last month have kept lawns green and flush, but if things dry up over the coming weeks, that growth will slow down, leaving room for one of a lawn’s peskiest weeds to arrive: crabgrass. Crabgrass is a summer annual weed that...

Read More
To Top