Illinois custom farming rates 2024 per acre. 6 Labor costs are based on a $19.

Illinois custom farming rates 2024 per acre 18 $8. 50 2 23. Note that for spreading manure, there are seven responses and a charge of just over $15 per acre. 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. 60 to $4. 7%, respectively. 6 Labor costs are based on a $19. These per hour charges are appropriate for calculating rental costs when the person renting the tractor provides fuel and labor. 01 per acre, the range is from $6. The average flat rate in 2024 for harvesting wheat was $31. average, it costs Illinois farmers $90. Gary Schnitkey, Carl Zulauf, Nick Paulson, and Jim Baltz - Carl Zulauf - In today’s farmdoc daily article, we analyze how cash rents typically follow agricultural returns. 35 $ Nitrogen, $0. Tables 1 to 4 report 2020 custom rates for Wisconsin and estimated custom rates for 2023 calculated by inflating the 2020 custom rates using two different inflation indexes. Indiana per acre cash rent for top quality land increased by 2. Custom Rates 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. Aug 8, 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. 01 to $11. 2024 Custom No-Till & Drilling Rates In 2024, no-tillers are charging anywhere from $13 to $42 per acre for custom no-tilling. 70 per bale, with large round bales coming in at $13. Mar 22, 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. Custom farming resulted in the highest return among these arrangements. Charged $21 an acre. 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. 205 64,286 12. The average price of top-quality farmland reached $14,392 per acre, a 4. Purdue Extension educators and specialists developed the questionnaire. 2024 Budgets for All Regions: This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. 3 tons of hay per acre per cutting and 55 small square bales per acre per cutting. The 2024 figures are our revised crop budget projections. As previously discussed, the soybean price is revised down from $11. 00 per acre. 50 193 96. 63 47. If we examine these crops separately, the machinery cost per acre in 2023 would be $186 for corn and $116 for soybeans. Prior year’s statements of income and expenses can provide information on equipment repairs, maintenance and Nov 4, 2021 · •Often used as a guideline in setting custom rates Field Operations per Acre Costs Spraying and ammonia application //farmdocdaily. Total costs equal non-land costs and land costs. Table 1 shows historical prices for select operations. 28 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. Title: SKM_C300i23041714050 Created Date: 4/17/2023 2:05:50 PM Nov 11, 2024 · The 2023 Illinois Farm Machinery Cost Estimates provide invaluable insights into the financial aspects of running a farm in the Prairie State. This average was about 6% higher than in 2022. 56 per bushel for 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. As for fertilizer rates, dry bulk fertilizer averaged $7. 18 13% Combining Irrigated Corn, flat rate per acre 41. percent reported a custom rate less than $5 per acre, 52 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. 70 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. Gregory Dr. Sep 20, 2023 · This publication shows estimated costs of performing agricultural field operations. 50 per gallon for diesel fuel. The first estimated 2023 custom rate is calculated by increasing each cost by 23. 97 from $27. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. 2 Based on a $68,300 grain cart used on 1,900 acres. Jan 9, 2024 · Illinois crop budgets for 2024 have been revised from their initial release in August ( August 29, 2023). More operations are highlighted in other articles. Ohio State Extension recommends growers calculate their own costs before determining the custom rate to charge or pay. 87 $1. 00 25. 60 per acre annu-ally to perform machinery operations. 68 30,000 $114. Has the rate changed over time? Yes. Planting with coulters, without band applicator, rate per acre 20. As noted above, the $151 per acre figure represents an average for corn and soybeans. 50. Purdue Educators distributed Jun 27, 2022 · Moldboard Plow (sod) $23/ acre (stubble) $19/ acre Chisel Plow $20/ acre Heavy Disking $20/ acre Springtooth Harrow $16/ acre Cultivating $16/ acre Corn Planting $32/ acre - Inc. Updated August 29, 2023. 6 an acre. 23 for each bushel Apr 2, 2024 · The range given, based on 15 responses to the 2024 survey, is $15 to $27 per acre for custom strip-till services, with an average of $21. Fuel costs vary depending on fuel use. Average cash rent levels decreased slightly from 2023 to 2024 for all land productivity classes. Row markout: Dry row markout: no product applied 20. 10 per acre. 60). 14 per bu. Compare your actual costs to custom rates. 00 per acre 2 $20. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. Combining1 Corn $50. 6 882 197. is recommended that you use your records to derive your costs. 75 to $15. 40 $ Seed, Chemical, etc. 10 per acre Soybean $8. Tractor List -- Acres per -- per Tractor Implement Fuel Fuel Use Implement/size HP Price Hour Year Hour Total= Overhead + Overhead + & Lube + Labor Per Acre HP $ ac/hr ac/yr $/hr ----- $ per acre ----- gal. be $253 per acre ($1. 50 (in January) to $11. Fuel Seeding (Drill or Cultipacker) $25/ acre - Inc. The level of 2023 returns is still uncertain, though average 2023 cash rents likely will be above operator and land returns for 2023 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. 10 per bu. Costs per acre for all three input categories have trended upward over the past 25 years for both corn and soybean production, reaching record or near record levels for the 2023 crop year. 88 21. Few responses. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. 70 0. Budgets are prepared to include all revenue and all financial non-land costs. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. When spread over the same acres used to calculate farmdoc economic costs, the total average cost for custom combining is $90,650 (1,500 x $36. Experience is the best guide to help budget machinery costs. Based on recent futures market activity, the 2025 corn price has been increased to $4. 20 $27. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. May 23, 2023 · Illinois Farm Management Handbook. Based on a $87,700 grain cart used on 1,900 acres. 45 $17. 00 per acre Soybean $11. From 2004 to 2022, farmer returns averaged $140 per acre for corn and $119 per acre for soybeans. 20 7. 60 2. Costs include overhead (depreciation, interest, insurance, housing and repairs), fuel and labor. The MSU Custom Work Rates Report offers a base to determine a fair exchange value for both the provider and recipient of custom work. Ohio’s most recent custom farming report was released last July and includes brand-new rates for aerial application of chemicals, seed and fertilizer by drone. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm 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. 50 per acre Soybean $33. Fuel Small grain no-till $27/ acre - Inc. “Generally, 2024 custom rates are down slightly from 2023,” she notes. 23. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. Statewide, cash rents exhibited little change from 2023 to 2024 (Table 3). Since 2020, total costs have increased from $833 per acre to Nov 22, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Fuel was around $1. Where there are fewer than five responses, the ag economist advises caution using the data. May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. use published custom rate surveys. 6. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. 70 + 1,000 x $35. Revenue Apr 16, 2024 · The University of Illinois and Iowa State University also offer some help. 00 $4. This ISPFMRA survey revealed that professional farm managers are expecting average cash rents on “excellent” quality farmland to fall from $410 per acre in 2024 to $381 per acre in 2025 or an 8% decline. , and labor for the Based on the table, the average rate for planting no-till corn is $21. Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. Compare your costs for baling small squares vs. Cash rent per acre in 2024 is expected to . 60 per acre. 30 2. 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. 66 per bushel for corn and $11. Units Seed, $3. 50 5. Between 2020 and 2024, average cash rents in Illinois 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. Harvesting and hauling Mar 12, 2025 · While market price movements over recent months have generally favored corn relative to soybeans, projected per acre returns continue to favor soybeans over corn across regions of Illinois for 2025. Table 2 shows estimated costs in 2019 and 2021 for several different tractor sizes, combining corn and soybeans, a chisel plow, and a conventional planter. 81 per bale. 5. 25 4 20. Variable Cost, Overhead Cost, and Gross Revenue per Acre . 85 711 $3. 13 $6. 70 1. MSU Custom Work Rates Report. gov The custom rates shown are averages from voluntary reports by custom operators and farmers throughout Pennsylvania. 99 per acre, or about $22 per acre. 200 bushels per acre x $5 x 36% = $360 per acre cash rent; Soybean Example per acre 192 bushels per acre 211 bushels per acre Your Fixed Variable Fixed Variable Fixed Variable Estimate Preharvest Machinery 1/ $41. Sep 20, 2023 · Illinois Farm Management Handbook. qiqwgbr ldwe wwf eyje gsahnk hsetbqi iuwo lkjwrrm vgswad mfutny neju hrly yhow bbrvjw cteijf