Agricultural Land Values and Lease Rates in Western Ohio for the years 2014-2015

Ohio Cropland Values and Rents Show Decline in 2015, According to Survey

A new survey reveals that the value of top-performing cropland in Ohio has seen a decrease in 2015, with the average value expected to be $8,733 per acre, a drop of 6.1 percent from the 2014 figure of $9,727 per acre in western Ohio.

The survey, conducted from February through May in 2015, also shows a decrease in the value of average and poor-performing cropland. Average cropland is projected to be valued at $6,718 per acre, a decrease of 9.1 percent, while poor-performing cropland is expected to be valued at $5,105 per acre, a decrease of 11.9 percent.

The survey results, based on 114 surveys returned, analyzed and summarized, also indicate that the rental rates for all categories of cropland have decreased. Top-performing cropland is expected to rent for $234 per acre in 2015, a decrease of 6.7 percent from the 2014 average of $251 per acre. Average cropland is expected to rent for $175 per acre, a decrease of 6.2 percent from the 2014 average of $187 per acre. Poor-performing cropland is expected to rent for $128 per acre, a decrease of 8 percent from the 2014 average of $138 per acre.

The survey results show that the top-performing cropland in western Ohio has an average yield of 205.1 bushels of corn per acre, while poor-performing cropland has an average yield of 140.5 bushels of corn per acre. The average yield for average cropland in western Ohio is 173.2 bushels of corn per acre.

In northwestern Ohio, the value of top-performing cropland was $9,298 per acre in 2014, and is expected to be $9,190 per acre in 2015, a decrease of 5.5 percent. The value of average cropland in northwestern Ohio was $7,392 per acre in 2014, and is expected to be $7,315 per acre in 2015. The value of poor-performing cropland in northwestern Ohio was $5,797 per acre in 2014, and is expected to average $5,105 per acre in 2015.

The survey results also show that the average yield for top-performing cropland in northwestern Ohio is 202.1 bushels of corn per acre or 62.4 bushels of soybeans per acre. The average yield for average cropland in northwestern Ohio is 168.7 bushels of corn per acre or 49.9 bushels of soybeans per acre. The average yield for poor-performing cropland in northwestern Ohio equals 135.5 bushels of corn per acre or 38.4 bushels of soybeans per acre.

The survey results also indicate that rents in the top cropland category are expected to equal 2.6 percent of land value in 2015, while rents in the poor cropland category are expected to equal 2.2 percent of land value. Rents in the average cropland category are expected to equal 2.4 percent of land value in 2015.

It is important to note that the region in Ohio expecting the largest reductions in the value of agricultural land and rents in 2015 is not explicitly detailed in the given search results. None of the results specify a region in Ohio or data about 2015 agricultural land value and rent declines.

In conclusion, the Ohio Cropland Values and Cash Rents Survey shows a decrease in the value and rental rates of all categories of cropland in 2015, with top-performing cropland seeing the smallest decline and poor-performing cropland seeing the largest decline. The survey results also show that the average yield for all categories of cropland has remained relatively consistent. However, it is important to note that the region in Ohio expecting the largest reductions in the value of agricultural land and rents in 2015 is not known.

Agricultural Land Values and Lease Rates in Western Ohio for the years 2014-2015