Warm weather and timely rainfall, particularly in the northern part of the state, allowed Indiana corn and soybean conditions to hold steady week-over-week according to USDA. Hoosier corn is rated 64% good-to-excellent, up a percentage point from last week. Indiana soybeans remain at 65% good-to-excellent.
Nationally, corn condition improved 2% to 57% good-to-excellent. Soybeans also increased 2% from last week to 54% good-to-excellent.
USDA NASS also released their Farm Real Estate Values and Cash Rents report on Monday. The 2023 average Indiana farm real estate value, including land and buildings, averaged $9,100 per acre, up 13.8% from the previous year. Indiana’s cropland value jumped 8.4% from the previous year to $8,400.
Indiana’s pasture value was $2,850 per acre, up over 5% from 2022.
Cropland cash rent in Indiana was $226 per acre in 2023, up $14 from the previous year.
