There are many resources available to help you when determining your farmland lease.
One of the main items that individuals contact the Purdue Extension Office is for a copy of the current Purdue Farmland Values and Cash Rent survey.
The 2011 survey found that on average estimated cash rent for the state was found to be $182 per acre for average farmland. That is $28 per acre more than in 2010.
The southwest region (consisting of Vigo, Clay, Owen, Sullivan, Greene, Knox, Daviess, Martin, Gibson, Pike, Dubois, Posey, Vanderburgh, Warrick and Spencer counties) reported the strongest percentage increase in farmland values and cash rents.
You may obtain a copy of the survey by going to http://www.agecon.purdue.edu/extension/p..., or by contacting your local Purdue Extension Office.
The USDA does record farmland lease information through the National Agricultural Statistics Service. By going to http://quickstats.nass.usda.gov/, you may look up county level data on farmland lease values.
However, upon investigation recently, it has been determined that the most recent information for Clay and Owen counties appear from 2007.
Each year, the Department of Agricultural Economics at Purdue University puts out information on crop cost and their associated return.
This guide might prove to be useful to some farmers.
The current 2012 Purdue Crop Cost and Return Guide may be accessed at http://www.agecon.purdue.edu/extension/p..., or by contacting your local Purdue Extension Office.
Purdue University's Department of Agricultural Economics has links to a variety of resources developed by Purdue University and other extension services with similar missions related to farmland leases.
Some of the information you can find there are comparison sheets that can be used to compare cash rent, flex rent and crop share, information on the impact of various lease agreements on DCP Participation, how to establish a flexible cash lease based on crop insurance parameters and examples of lease agreements.
You may find all of that information and much more by going to http://www.agecon.purdue.edu/extension/p....
Over the course of the last few weeks, a lot of information has been shared about how to develop a farmland lease.
Hopefully, it has proven useful as you start the negotiation process as either the landlord or the tenant.
Just remember, it is always in the best interest of all parties to have the lease in writing.
As always, if you have any questions or would like information on any agriculture, horticulture, or natural resource topic, then please contact your local Purdue Extension Office at 448-9041 in Clay County or 812-829-5020 in Owen County or reach me directly at firstname.lastname@example.org.
Purdue University is an equal opportunity/equal access/affirmative action institution.
Upcoming opportunities available to you through Purdue Extension include:
* Dec. 12 -- Last Chance PARP, Clay County 4-H Exhibit Hall. Cost is $10 for PARP credit. Call 448-9041 for more information,
* Dec. 23 -- Extension office closed, holiday, and
* Dec. 26 -- Extension office closed, holiday.