Expert to Field Questions on Crop Budgets, Farmland Prices and Rental Rates at the 2014 Farm Science Review

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Source: Ohio State University

COLUMBUS, Ohio -- While cropland values in Ohio increased in the past two years, they have remained flat, and in some cases declined depending on the land class, in 2014, an economist from Ohio State University’s College of Food, Agricultural, and Environmental Sciences said.

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

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

Ward will answer questions at 12:15 p.m. and 2:45 p.m. on Sept. 16; 1:40 p.m. on Sept. 17; and 10:40 a.m. and 1:00 p.m. on Sept. 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” affords 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.

“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.

“At the sessions we will discuss crop profitability and interest rates and how those two factors will impact land values going forward. 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.”

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 CFAES, 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 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 that Work.
  • 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. Sept. 16-17 and 8 a.m. to 4 p.m. Sept. 18.

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