Photo: Yamanaka Tamaki (Flickr)
Prices to plant corn, soybeans and wheat are on the rise for Indiana farmers. Purdue extension agriculture economist Alan Miller says the price to plant corn will go up 16 percent, soybeans 15 percent and wheat 12 percent. But Miller says the rent farmers pay to plant those crops will also increase.
“Last year we saw land values increase about 23 percent in the state of Indiana,” he says. “We saw rents increase last year about 13 percent in Indiana and so rents have been lagging land values.”
Miller says the increase in planting costs is largely due to the higher costs of seed, fertilizer, chemicals and fuel.