Expert To Discuss Farmland Value, Rent At Farm Science Review

While cropland values in Ohio increased in the past two years, they have remained flat in 2014, declining in some cases, said an Ohio State University agricultural economist.

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Barry Ward, production business management leader for OSU Extension, will discuss his latest research related to crop budgets, farmland prices and rental rates during this year’s Farm Science Review September 16-18 at the Molly Caren Agricultural Center in London, OH.

“In farmland with poorer soils we have seen slight decreases in land values,” said Ward. “We expect in the next two quarters for prices to possible soften further, but that’s largely dependent on crop prices at this point.”

Ward will participate in the Review’s “Question the Authorities” question-and-answer sessions offered daily at the three-day agricultural trade show.

“At the sessions we will discuss crop profitability and interest rates and how those two factors will impact land values going forward,” he said. “We will also discuss rental rates. We’ve seen data that has shown that rental rates may be flat to slightly lower in 2015. There is a lot of uncertainty going forward.”

Ward will answer questions at 12:15 p.m. and 2:45 p.m. on September 16; 1:40 p.m. on September 17; and 10:40 a.m. and 1:00 p.m. on September 18. The sessions will take place in the Ohio State Area in the center of the main Farm Science Review exhibit area.

“Question the Authorities” gives participants the opportunity to ask a range of general or technical questions related to their farm enterprises and offers an easy way for producers to interact with OSU Extension experts, organizers said.

The gatherings will also cover topics such as flexible cash leases, which can be used by farmers and renters to manage volatility in the market. Additionally, crop budgets will be an important theme of the events.

“We’ll be talking about input costs that producers are faced with and what we might expect in the short and medium terms in regards to changes in the cost of seed, fertilizer and other chemicals, machinery and equipment, interests rates, etc.,” Ward said.

Sponsored by the OSU College of Food, Agricultural and Environmental Sciences, the Review features educational workshops, presentations and demonstrations delivered by experts from OSU Extension and the Ohio Agricultural Research and Development Center, which are the outreach and research arms, respectively, of the college.

Other “Question the Authorities” workshop topics include:

  • Grain outlook.
  • Future of the rural economy.
  • Drinking raw milk.
  • Grass: bioenergy and nutrient management.
  • Feral swine issues.
  • Drones on the farm: legal issues.
  • Antibiotic use and resistance.
  • Fish farm profitability.
  • Public health and animals.
  • Hops: new markets for old crops.
  • Farmers’ brand loyalty.
  • Farm bill.
  • Farm risk management strategies.
  • Youth labor.
  • Managing livestock by behavior.

Farm Science Review is known nationally as Ohio’s premier agricultural event. It annually draws more than 130,000 farmers, growers, producers and agricultural enthusiasts. An estimated 620 exhibitors with some 4,000 product lines will set up shop at the three-day farm show, an increase from 608 exhibitors last year, organizers said.

This year, the Review is also celebrating the 10-year anniversary of its partnership with Purdue University Extension. Educators and researchers from Purdue will also present educational workshops.

Review pre-show tickets are $7 and are available for purchase at all OSU Extension county offices, many local agribusinesses, and also online at fsr.osu.edu/visitors/tickets. Tickets are $10 at the gate. Children 5 and younger are admitted free.

Hours are 8 a.m. to 5 p.m. September 16-17 and 8 a.m. to 4 p.m. September 18.

Source: Ohio Ag Connection

More information can be found at www.fsr.osu.edu.