Illinois custom farming rates 2024 per acre. 00 per acre Grain Hauling 3 $0.

Illinois custom farming rates 2024 per acre 18 $8. 00 per acre Soybean $11. 60 to $4. 01 per acre, the range is from $6. 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. The average charge for combining and binning corn and wheat is now above $40 per acre, with combining soybeans and hauling them to the bin right at $40 per acre. Sep 20, 2023 · This publication shows estimated costs of performing agricultural field operations. 21 ft 205 47,440 12. Instagram; Facebook; YouTube; LinkedIn; 101 Mumford Hall (MC-710) 1301 W. 00 181 90. Gregory Dr. Average cash rent levels decreased slightly from 2023 to 2024 for all land productivity classes. Postal Service and 633 people via email in February 2025. Jun 10, 2021 · Related: Purdue issues custom rates for field operations. services. 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. average, it costs Illinois farmers $90. 7 Sep 1, 2017 · The total machinery cost per acre ($9. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. Even given cost reductions, break-even prices Aug 29, 2024 · Good quality farmland averages 200 to 220 bushels per acre, with a soil productivity index of 117 to 132. The MSU Custom Work Rates Report offers a base to determine a fair exchange value for both the provider and recipient of custom work. From 2004 to 2022, farmer returns averaged $140 per acre for corn and $119 per acre for soybeans. Central Illinois is further divided into categories for high-productivity farmland and low-productivity farmland. 70 0. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. These per hour charges are appropriate for calculating rental costs when the person renting the tractor provides fuel and labor. 7%, respectively. Revenue and Costs for Illinois Grain Crops: Shows historical cost for the last 5 years and projections for next year. 7. he rates reported in this guide summarize . 40 per acre Grain Hauling 3 $0. 10 per acre Soybean $8. 85 711 $3. For each type of work, the average rate from the Aug 29, 2017 · Langemeier (2017) and Plastina and Johanns (2017) indicate that the custom rate for field cultivating is approximately $12. 2. Change in rate. Fuel was around $1. Indiana per acre cash rent for top quality land increased by 2. Total costs per acre mostly decreased in Illinois when compared to 2019. Mar 28, 2024 · Custom farm rates are expected to remain unchanged for 2024. Below is a list of states with a link to their most recent custom rate guides. “Generally, 2024 custom rates are down slightly from 2023,” she notes. They reach an agreement at 36%. 70 6. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. Based on recent futures market activity, the 2025 corn price has been increased to $4. 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. The 2025 MSU Custom Work Rates Report covers a wide number of basic field machine Mar 29, 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. Ohio Farm Custom Rates 2024 Operation Standard Mechanical Weed Control Average Responses Max Min Median Deviation1 High Low Rotary Hoeing / acre $12. Ohio State Extension recommends growers calculate their own costs before determining the custom rate to charge or pay. 45 $17. This marginally improves projected corn returns, while projected soybean custom rates. Tandem disking costs an average of $16. 1 times the tractor hour resulting in a 10% higher cost per tractor hour. U of I ag economists expect 2021 machinery cost estimates to be 8% to 10% higher than 2019’s. Combining corn shows an average of $41. 90 per acre, while a 47-foot chisel plow used on 1,974 acres has nearly the same cost at $12. 30 per acre, with a range of $12 to $31 per acre. Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. We continue to assume trend yields across regions, which are 227 bushels per acre for corn and 72 bushels per acre for soybeans in central Illinois. 6. 60). 86 $1. 23 $4. ). The rate for conventional corn is $19. 30 per bushel while the soybean price has been reduced to $10. 90 per acre. 4. 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. , and labor for the Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. It . Rotation Corn in Indiana. Check the column for average rates from the same Purdue custom rates survey for 2017. 7% to $204. Planting with coulters, without band applicator, rate per acre 20. 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. Where there are fewer than five responses, the ag economist advises caution using the data. The average rates increased, and the reported base rate bushels decreased in 2024 for wheat harvesting compared to that reported in 2022. 77 12% Ridge planting, with band applicator, rate per acre 23. Jan 3, 2025 · In 2023, the average machinery cost per acre for the two crops was $151. 50 193 96. 58 per acre) for the case farm is under these custom rates, indicating that it is economical for the case farm to own a field cultivator. Michael Langemeier, a Purdue Extension agricultural economist, tracks custom rates and conducts a survey every other year. If we examine these crops separately, the machinery cost per acre in 2023 would be $186 for corn and $116 for soybeans. 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. Of the 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. 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. Labor time is assumed to be 1. Cash rent per acre in 2024 is expected to . 23 for each bushel Vertical tillage averages $19. 30 per acre and combining soybeans averages $39. 6 882 197. Few responses. 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. 18 $3. The total machinery cost per acre ($9. 50 2 23. For For example, the costs for harvesting dryland wheat may be known as “23 -23-23” or “3 23s” -- $23 per acre plus $0. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. 60 2. 95 per acre, an increase of $3. May 1, 2023 · For spraying, while the average is $8. 2 Based on a $68,300 grain cart used on 1,900 acres. 2024 Budgets for All Regions: This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. After consideration, the landowner offers a 38% factor or estimate of generated farm revenue, and the farmer counters with 35%. expected to be $39 per acre ($0. Tips for shopping or setting rates 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. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm Average Fertilizer Rates. 87 $1. 00 20. 2025 Farm Bill What-If Tool (Sheet) ARC/PLC Calculator (Online) Publications. Custom planting ranges from $11 to $40 per acre, depending on the type of planter and setup. 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. 19 per acre. 25 per acre applied. If you are interested in Jul 18, 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. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. Only states that have updated rates since 2020 are included. 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. 21 per bushel) higher than costs in 2021. Overall, projections are for lower costs on both corn and soybeans in 2024 than in 2023. 98 per acre in 2022. Urbana, IL 61801 Email: extension@illinois. 50 5. 00 $14. Table C. Consistent with these return expectations, professional farm services. 81 per 1,000 kernels 28,000 $106. Didn’t think it was enough for the 20 mile road travel and 1 day only but was helping a friend finish up in canola. 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. MSU Custom Work Rates Report. large round bales. The report also surveyed farm managers in Illinois on their expectations for cash rent rates for the 2025 growing year. Updated August 29, 2023. 3% based on a USDA price index (described below). 20 an acre and heavy or offset disking costs an average of $18. , and labor for the Apr 3, 2024 · The owner has determined the average yield on the farm is 200 bushels per acre. Combining1 Corn $50. Sep 20, 2023 · Illinois Farm Management Handbook. Table 1 shows historical prices for select operations. Page 4 Early Season Custom Farm Work Rates August 2024 OTHER CUSTOM WORK AND HISTORICAL DATA OTHER CUSTOM WORK, STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation 2024 20 Average Rate 24 as Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate Custom Rates for Farm Services in Missouri T. "Complete Harvest (Computed)" adds individual custom rates for mowing/conditioning, raking, baling, and moving/storing (where applicable) to estimate a custom rate for these combined operations. To see the full report for all operations, complete with all qualifying comments, visit 2021 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. Has the rate changed over time? Yes. 00 25. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. 75 / acre. 02 to $10 per acre. This average was about 6% higher than in 2022. 99 per acre, or about $22 per acre. Costs increased $77 per acre in northern Illinois, $108 per acre in central Illinois with the higher rated soils, $112 per acre in central Illinois with the lower rated soils and $78 per acre in southern Illinois when compared to 2022. 63 47. Custom farming resulted in the highest return among these arrangements. 60 per acre. Due to the high cost of investment in farm machinery, an ever-increasing number of farm operators are hiring other farm Jun 25, 2024 · 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. ebl zbspk claa ugmlkp qav qivndj knpf itel vdryjc tqsq bbciqz hnvxjfw aaeje zfv egg