Interest should be included in ownership costs regardless of whether debt is incurred when purchasing a machine. Repair and maintenance costs for a particular machine can vary substantially among farms. Table 1 illustrates the computation of depreciation, interest, insurance and housing, and repairs. The rate hike, the latest in a series from the states largest auto insurer, will add about $58 to the annual premium for the average policyholder, according to a filing with the Illinois Department of Insurance. To compute economic depreciation, information pertaining to economic useful life, list price, and salvage value are needed. 2020 Nebraska Farm Custom Rates Glennis A. McClure, Extension Educator - Farm & Ranch Management Analyst Jim A. Jansen, Agricultural Economist EC823 (Revised June 2020) State Farm is raising rates for Illinois drivers it insures by 6.5% on average. A survey of agricultural custom operators is conducted in Nebraska every two years. waiving farm classification requirements for second year, Planting Corn into standing Cover Crop, No planter updates needed. This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and the labor for the operation. 1 Min Read. Join Purdue ag economists and co-creators of the Purdue Crop Basis Tool, Nathan Thompson and Jim Mintert for an episode discussing the advantages of using the Centers Crop Basis Tool. About the report. The information below is based on 122 responses and 3,389 custom rates provided by Iowa of Reports Range Average Purdue Educators distributed the questionnaires at meetings and . Custom hay mowing and baling are common in parts of Indiana where people have small patches of hay but don't want to own the equipment needed to mow, rake and bale hay themselves. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and the labor for the . Labor costs per hour increased from $20.90 per hour in 2019 to $22.00 per hour in 2021 (see Table 1). U of I ag economists expect 2021 machinery cost estimates to be 8% to 10% higher than 2019s. Cust_MachineWrk Master File 2021.xlsx Author: Owner Created Date: 8/29/2021 6:40:23 PM . Labor time is assumed to be 1. . These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and the labor for the operation. Lattz, D. and G. Schnitkey. The rates calculated here are averages for these states and are adjusted to account for changes in fuel price, machinery costs1, and wages2 from the time of the reported surveys. Several data sources were used to create the two examples below. 'p`0aP=Xhx ~)$V dr8u8%=:V5]4 kL/u=Uj0[r0-Zwf6#?x_xu8Y*h\?#R4>RV2 w?y_|HNL-sGIMm5!JPNJ MF ]&>e\dr|Q4h~4(. survey of custom rates charged for various crop and livestock operations and lease arrangements in Colorado. Number 8860726. Web washington, d.c., nov. Hello and welcome to this years commemoration event for international day of persons with disabilities. Historical Indiana Farm Custom Rates can be accessed in our archive. Larger standard deviations in relation to reported averages indicate greater variability in the reported custom rates. University of Illinois Extension, Farm Business Management, June 2017 (b). Langemeier (2017) and Plastina and Johanns (2017) indicate that the custom rate for using a self-propelled sprayer is approximately $6.70 to $7.65 per acre. These cost rates are dependent on annual hours of use and useful life. Custom Rates for Wheat Harvest, 2022, by District District . The "Ohio Farm Custom Rates 2022" publication reports custom rates based on a statewide survey of 223 farmers, custom operators, farm managers, and landowners conducted in 2022. Farm Progress Show annually hosts more than 600 exhibitors displaying new farm equipment, tractors, combines and farm implements; seed and crop protection products; and many additional farm supplies and services. The total machinery cost per acre ($9.58 per acre) for the case farm is under these custom rates, indicating that it is economical for the case farm to own a field cultivator. This information is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom operators, and farm managers. xY#G)lvwUw:GJ2Lj=h+dy The event will begin shortly at 8:30 am est. This website uses tracking tools, including cookies. Web a downside scenario could lead the global economy to shrink by as much as 8% this year, followed by a sluggish recovery in 2021 of just over 1%, with output in emdes contracting by almost 5% this year. Number 8860726. COMMUNICATION. University of Illinois Extension, Farm Business Management, June 2017 (a). . This publication reports custom rates based on a statewide survey of 377farmers, custom operators, farm managers, and landowners conducted in 2020. The complete 2021 Iowa Farm Custom Rate Survey for all farming practices is available on-line at the following Iowa State University web site: https://www.extension.iastate.edu/agdm/crops/html/a3-10.html. Thank you to those who . The farmdoc daily website falls under University of Illinois copyright and intellectual property rights. No driver,or fuel cost. The list price increase will also increase costs but is countered by a decline in interest rates from 5.5% in 2019 to 4.5% in 2021. The total cost per hour for the self-propelled sprayer is estimated to be $314.57. Th Iowa Custom Rate Survey is probably the most widely used and updated custom rate information that is available in the Upper Midwest. It is common to divide farm machinery costs into two categories: annual ownership costs and annual operating costs. Interest, insurance and housing, and repair cost rates were assumed to be 5 percent, 1 percent, and 1.5 percent, respectively. We are grateful to the 97 survey respondents who provided information for this publication. The Pennsylvania Machinery Custom Rates report shows charges by custom operators for various farming activities for the current year. Fortunately, ag economists at the University of Illinois keep up on all those numbers, and have an entire listing of costs for various field operations located on their Farmdoc website. ) January: Overcast and [], LAKE CRYSTAL, Minn. Farmers in many areas of the United States, including several portions of Southern Minnesota, are having a very good profit year in 2021. We use these technologies for Includes tractor overhead, implement overhead, fuel and lube and labor: Vertical tillage, rolling basket at $11.70 per acre, V-ripper (shanks only) at $22.50 per acre. We asked farmers, agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2019 for custom services, excluding the cost of materials being applied. The latest price hike, slated to take effect next month, comes just six months after an 8.4% average increase. Click here (http://www.farmdoc.uiuc.edu/manage/newsletters/fefo06_16/fefo06_16.html) for a look at their summary, including commentary by farm management experts Dale Lattz and Gary Schnitkey. Purdue Extension educators and specialists developed the questionnaire. Fortunately, ag economists at the University of Illinois keep up on all those numbers, and have an entire listing of costs for various field operations located on their Farmdoc website. From time to time, Prairie Farmer gets requests for the custom rate estimates on various field operations. Click here (http://www.farmdoc.uiuc.edu/manage/machinery/machinery_summary.html) for the complete table of custom rates, which also lists tractors of various sizes. This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. Numerous farms that are either hiring a custom operator or providing custom rate services to other farms use published custom rate surveys. stream Farmland LEasing Facts Sheets . Web the national unemployment rate has been declining since last august, when it peaked at 6.4%, to 5.4% in march 2021. A December 2020 graduate of Kansas State University in Animal Sciences & Industry and Agricultural Communications & Journalism, Day was active in Block & Bridle and Agriculture Communicators of Tomorrow, while also serving as a communications student worker in the animal science department. Estimated machinery costs often are used in setting custom rates where one individual performs a field operation for another individual. These are updated every-other year and date back to 2017. window.addEventListener("sfsi_functions_loaded", function() It is important to note that other factors such as timeliness, liquidity, solvency, and tax management may affect a farms decision to own machines or custom hire certain field operations. Fuel costs are based on a $2.25 per gallon price for diesel fuel. If you are figuring what it costs you to make hay on your farm, add mowing, raking, and baling at 20.20 per bale ( Machinery Cost Estimates, University of Illinois Extension, June 2015 ). From time to time, Prairie Farmer gets requests for the custom rate estimates on various field operations. This is especially true with new and younger farm operators, as well as with children that decide to start farming with their parents. Spraying. The purpose of this publication is to provide information on custom work . 2021 Illinois Custom Farm Rates. The survey also includes many miscellaneous farming practices, average per hour farm labor rates, and includes a formula for calculating rental rates. In these situations, the custom operator may charge a custom rate that is well below the full cost of owning and operating their farm machinery either to build goodwill or to more fully utilize their machinery capacity. Hello and welcome to this years commemoration event for international day of persons with disabilities. October 11, 2021. Estimated machinery costs often are used in setting custom rates where one individual performs a field operation for another individual. Alamy. Department of Agricultural Economics; In particular, they discuss a handy thumb rule to use when considering an increase in coverage levels for RP insurance. A $19 per hour rate was used in 2019 compared to a $20 per hour rate in 2021. application, corn, farm custom rates, fertilizer, hay, manure, planting, precision ag, soybeans, tillage, wheat. Farm isn't done raising auto rates. Includes tractor overhead, implement overhead, fuel and lube and labor: Includes tractor overhead, platform overhead, fuel and lube, and labor: . Web the national unemployment rate has been declining since last august, when it peaked at 6.4%, to 5.4% in march 2021. Purdue University Center for Commercial Agriculture, 403 W State Street, West Lafayette, IN 47907, (765) 494-7004 Could custom farming work? TAGS: application, corn, farm custom rates . Most auto insurers have been rapidly hiking rates to catch up to inflationary pressures that have made many of them unprofitable on an underwriting basis. Farms that use custom operators or provide custom operations to other farms need to compare machinery costs per acre with published custom rate survey values. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. In addition to the costs outlined in table 3, the costs in table 4 include fuel, lubrication, and labor costs. This option is appealing for tasks requiring specialized equipment or technical expertise. myriad farm and ranch management issues are available at the ABM web www.abm.extension.colostate.edusite: . Phone: 608-930-9850. forklift operator certification salary near Mombasa. These estimates are useful for determining custom rates and for analyzing machinery costs on farms. Guidelines are available here. The number of State Farm's policies in Illinois has risen over the past year, while Allstates and Geicos have dropped. These costs are heavily dependent on annual hours of use and useful life. Many times, land rental rates for a coming crop year are based on the profitability in crop production in the previous [], LEXINGTON, Ky. Invasive insects have captured a lot of attention lately, which is good as it encourages people to be to be on the lookout for these new pests. As Day got older, she began to understand the importance of transitioning from a member to a mentor for other youth in the industry. The purchase price is assumed to equal 85% of the list price of the tractor. . The average flat rate in 2022 for harvesting wheat was $28.06 per acre, an increase of $3.10 from $24.96 per acre in 2020. Many Iowa farmers hire some custom machine work in their farm business or perform custom work for others. Examples pertaining to field cultivation and a self-propelled sprayer were used to illustrate the conceptual framework. Web washington, d.c., nov. Macadamia Nut and Toasted Coconut 70 Dark Chocolate Bar Puna from punachocolate.com. Tables 3 and 4 present machinery costs for a self-propelled sprayer operation on the case farm. Fuel Gal. Depending on your situation, you may want to consider the following spraying and ammonia application total costs from 2019: Liquid fertilizer applicator at $23.50 per acre. 2021 Indiana Farm Custom Rates. Machinery Cost Estimates: Harvesting. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. Custom Farming. Check out the baseline prices on custom rates from 2019. Purdue University Center for Commercial Agricultures ag economists Michael Langemeier and James Mintert walk participants through key considerations for their 2023 insurance options. These rates, except where noted, include the implement and tractor . 2023 Purdue University | An equal access/equal opportunity university | Copyright Complaints In 2018, she received her associate degree from Lake Land College, where her time was spent as an active member in clubs such as Ag Transfer club and PAS. Registered in England and Wales. Costs for most operations are higher in 2021 than in 2019, with most of the increases due to increases in list prices of machines. Dealers. Cost Estimates for a look at their summary, including commentary by farm management experts Dale Lattz and Gary Schnitkey. ) Farm custom rates have not changed much in recent years due to relatively stable fuel prices and repair costs, along with more farm operators being available for custom work services. All rights reserved. 2017. And he expects 2021 costs to be 8% to 10% higher than 2019. Survey sampling and methodology were changed in 2011. As we have previously shared, we are continuously monitoring and adjusting to trends, State Farm spokeswoman Gina Morss-Fischer said in an email. (rQpDzxx?|~_ u>vv/]lv??|v^ur5C"k;Odv6]wG_'}e|';7P}_\;wT{n[[;"'vw?WhO[O%Slpwf? The "Average Final Rates" presented in this report represent these . State Farms increases are more modest than those by Northbrook-based Allstate, the second-largest Illinois car insurer, and even Chevy Chase, Md.-based Geico, which advertises how cheap it is compared with major rivals. These rates, except where noted, include the implement and tractor . The computations of interest, insurance and housing, and repair costs assumed that the self-propelled sprayer had one-half of its useful life left. Here, we are talking about economic depreciation rather than tax depreciation. (see Table 1). Basis is an important component for crop producers to consider when marketing grain because it is used to convert the futures price to a local cash equivalent. Subscribe to receive top agriculture news, Be informed daily with these free e-newsletters. Actual for 2015 through 2020, Projected for 2021 and 2022." Illinois Farm Management Handbook. It is important to note that machinery costs per acre vary widely among farms. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. Uv"ZY5V7+}V}j WOUby/oFDEph+[e?a+pVf#Q.jOHEQ25xg~/_Ox{S+IsB ~Zpt%S~g.S7/-N}9~! vYzv" oYrD#a:C|r58N|7hCptYvsZF5?l|}yawa?_7{z{wx:~UtmCyz`~hKkfu}}_@9i}}/BW"_hwW&#qm _OP?Z~5|09//d_)mD`!R92W)I~j)u*IP? w};}v>\CCpKGva12*G?6'_o}D5l||q\m,:[GuwazNy|p9\A>1G5yJ4a;+w_ hN{?b\Aa !,z>%~S! Click below to see everything we have to offer. Illinois Farm Management Handbook. Substantial increases in list prices of machinery occurred between 2019 and 2021. Ohio Farm Custom Rates This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. Based on the ISU data, average custom rates for tillage, planting and harvest operations in 2021 are expected to decrease by about 3%, compared to the rates for similar operations in 2020. Fourteen percent of the respondents perform custom work, 15% Custom operators who extensively engage in custom work should estimate the full ownership and operating costs of their services before agreeing to work for the going rate in their area. Labor cost reflect machine time, time required to lubricate and service machines, and travel time. Farm custom rates may differ significantly from one area in the state to another based on availability of custom operators and demand for their services. New world bank analysis of early evidence reveals that while remote learning has not been equally effective everywhere, hybrid learning is. The farmdoc daily website falls under University of Illinois copyright and intellectual property rights. (UNL Extension), 2021 Missouri climate: A year of extremes, Challenges in setting land rental rates for 2022, Invasive insects and look-a-likes in Kentucky. A "custom rate" is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. Thus, her professional and career focus is centered around educating agriculture producers and youth to aid in prospering the agriculture industry. The computations of interest, insurance and housing, and repair costs assumed that the tractor and implement had one-half of their useful life left. . These are the January 2023 crop budget estimations for 2023. An equal access/equal opportunity university, Importance of Crop Basis when Marketing Grain. The custom farming rates for corn and soybean production were also expected to be steady compared to a year earlier. Check out the entire list of cost estimates at Farmdoc: A 10th-generation agriculturist, Sierra Day grew up alongside the Angus cattle, corn and soybeans on her familys operation in Cerro Gordo, Ill. The variation of rates around the average is reported when the number of respondents for a question was at least 30. Labor costs are based on a $19 per hour. The variation of reported rates was large for many of the operations and thus should only be used as a starting point for establishing a rate in any given situation. CUSTOM FARMING: Looking at arranging custom farming on your operation? Missing Crain's in print? Machinery Cost Estimates: Forage Field Operations. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. 4WD - 260 hp. Approximately two-thirds of the responses would be expected to fall between the high and low numbers used to summarize the extent of the variation. 10 per acre. Ohio Farm Custom Rates. 2023 Iowa Farm Custom Rate Survey Suggest. The average (across farms) of the relative custom rate ratio is 1.31. Between 2019 and 2021, the list price on a 310 HP tractor increased by 9.1% from $410,256 in 2019 to $447,479 in 2021. University of Illinois will publish 2021 . Table 2 shows estimated costs in 2019 and 2021 for several different tractor sizes, combining corn and soybeans, a chisel plow, and a conventional planter. Web please submit your questions and comments now, using the chat feature. A Purdue survey can provide a starting point for setting custom rates. Using this information the total machinery per acre was $3.90. } May 25, 2019. The USDA reports that machinery values and labor costs have increased by about 5 percent and 11 percent, respectively . The rates reported in this guide summarize a statewide survey conducted online and by solicitations of University of Missouri Extension specialists in the winter of 2019-2020. The information in table 3 was used to help compute the total machinery costs for spraying on the case farm reported in table 4. Guidelines are available here. $ 148.10 $ 63.20 $105.65 $112.03 11.4 $30.15 . Machinery Cost Estimates: Summary. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. Web fast and fair vaccination, preventive healthcare key for sustainable growth washington, march 31, 2021 prospects of an economic rebound in south asia are firming up as growth is set to increase by 7.2 percent in 2021 and 4.4 percent in 2022, climbing from historic lows in 2020 and putting the region on a path to recovery. The provincial average 2018 rates are also listed where available. David Meiss: Leading, serving with humility, Great Plains adds tools, partners with Bayer. Part I of the survey focused on spring and summer farm . Web washington, d.c., nov. 2017 Indiana Farm Custom Rates." your experience, perform analytics and deliver personalized advertising on our sites, Planting Corn into standing Cover Crop, No planter updates needed. Report ID: . Catch the next monthly update on February 9 for the corn and soybean outlook following release of USDAs February Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. Represents the rate obtained from surveys of actual farm data surveys for 2014 & 2015 from Universities listed below to do this type of . The variation is the average rate plus and minus one standard deviation. The Purdue University Center for Commercial Agriculture will present a Learning Center Session on Thursday, March 9 entitled Financial and Risk Management Strategies for 2023, at Commodity Classic in Orlando, Florida. 2021 Custom Machine Work Rates By Ned M. Birkey, MSU Extension Educator Emeritus, Spartan Ag; July 21, 2021 News release With the 2021 spring planting season wrapping up with wheat harvest and . Despite these extremes, the Show-Me State overall had a favorable growing season in 2021. The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Lattz, Dale and Gary Schnitkey. Authors: Dale Lattz and Gary Schnitkey. The quality of data is dependent on the cooperation received by producers and commercial custom operators. The cost for new and used machinery has increased rapidly during 2021, which together with increasing fuel and repair costs and higher labor charges, probably justify some adjustments in final 2021 custom rates. Idas net investment portfolio increased to $37.9 billion as of june 30, 2021, from $35.6 billion a year earlier. Acres farmed, annual hours, useful life, and interest rate represent those of the case farm. STARTING POINT: Rates for mowing and baling hay vary across Indiana. Tillage. That compared with a $1.3 billion net profit in 2021. Lets say you dont want to retire and rent out your farm, but you dont want to do it all yourself either. 2017 Indiana Farm Custom Rates. This article compares machinery costs per acre for a case farm to custom rates associated with a field cultivation operation and a self-propelled sprayer operation. Survey respondents include both providers and users of custom services, and data reflect the prices paid for typical farm and ranch custom operations. These rates, except where noted, include the implement and tractor . Tables 1 and 2 present machinery costs for a field cultivation operation on the case farm. In general, operations for which fewer than five responses were received are not reported here. These custom farming rates were compiled from questionnaires received from farmers, farm owners, farm custom operators, & professional farm managers in Indiana during the last month of 2020 and the first three months of 2021. . These average rates are only meant to be a guide for custom rates, as actual custom rates charged may vary depending on increases in fuel costs, availability of custom operators, timeliness, field size, etc. Purdue Educators distributed the questionnaires at meetings and events statewide during the last month of 2020 and the first three months of 2021. Machinery Custom Rates. Iowa State University Extension and Outreach, Ag Decision Maker, A3-29, May 2015. Farm Progress Show annually hosts more than 600 exhibitors displaying new farm equipment, tractors, combines and farm implements; seed and crop protection products; and many additional farm supplies and services. According to Lattz and Schnitkey (2017b), the field cultivator represented in tables 1 and 2 can cover 29.1 acres per hour. Copy-paste the content into the area above. New world bank analysis of early evidence reveals that while remote learning has not been equally effective everywhere, hybrid learning is. What follows are the median (adjusted average) custom rates for some common farming practices for 2022, based on the Iowa Farm Custom Rate Survey. The custom rate summary, which is usually released in late February, lists the average custom rate, as well as a range in custom rates, for various tillage, planting, fertilizer and chemical application, grain harvesting, and forage harvesting functions on the farm. Nationally, Geico saw its auto policies fall 9% in the year that ended Dec. 31, according to a filing over the weekend by parent Berkshire Hathaway, an unheard-of result from an insurer that has been the fastest growing in the industry over the past two decades. Iowa Custom Rate Survey 2021; Iowa State Custom Rate Survey 2021; Iowa Custom Rate Survey; Custom Farming Rates 2022 Iowa; 2023 Iowa Tax Tables; Terimakasih ya kawan telah mampir di blog kecil saya yang membahas tentang android apk, download apk apps, apk games, appsapk, download apk android, xapk . For most of these invasive pests, we [], I-29 Moo University Winter Workshop Series, Predicting grazing cattle weight gain from satellite imagery, Sometimes, it can be difficult to arrive at a fair custom rate for certain farming practices, or for the use of various pieces of machinery. Labor time is assumed to be 1.1 times the tractor hour resulting in a 10% higher cost per tractor hour. University of Illinois will publish 2021 machinery cost estimates at the end of September. Specialty crops highlight Farm Bill hearing, Kinze raises its planter game with new row unit, Western states seek support for livestock industries, Bipartisan DAIRY PRIDE Act targets plant-based 'dairy', Cost of keeping working capital in inflationary times, World Ag Expo opens to visit by House speaker, http://www.farmdoc.uiuc.edu/manage/newsletters/fefo06_16/fefo06_16.html, http://www.farmdoc.uiuc.edu/manage/machinery/machinery_summary.html. A small number of responses signals report users to be extra cautious when using the survey results. Farm Progress is part of the Informa Markets Division of Informa PLC. Suite 3200 By Mike Rankin. Fuel use on a 310 horsepower tractor is estimated at 13.6 gallons per hour. Custom rates cover the cost of machinery, fuel, labor and, occasionally, a product such as lime or bale wrap. However, it is Depreciation results from wear, obsolescence, and machine age. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and the labor for the operation. In addition, some land investors are choosing to operate a farm themselves rather than cash renting the land another farm operator, thus hiring a farm operator under a custom farming agreement. Crop Insurance Summary of Business Tool (Sheet), Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Post Application Coverage Endorsement Tool, Biomass Crop Budget Tool Miscanthus and Switchgrass, Illinois Soil Productivity and Yield Utilities, Illinois Crop Budgets and Historic Returns, Department of Agricultural and Consumer Economics. Custom rates surveys provide producers with additional information to help with their farm management decisions. 2023 Morning Ag Clips, LLC. The 2022 Iowa Farm Custom Rate Survey is intended as a guide in determining custom rates. Idas net investment portfolio increased to $37.9 billion as of june 30, 2021, from $35.6 billion a year earlier. A "custom rate" is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. Using this information, the total machinery cost per acre was $9.58. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. if (typeof sfsi_widget_set == "function") { Ruraltax.org contains many articles on taxes aimed at farm and land owners. Latest Email; Upcoming Programs; Faculty & Staff; Contact Us; Subscribe; University Resources. First, a case farm in north central Indiana with 3000 acre of corn and soybeans was assumed. The diesel fuel price was increased from $2.50 per gallon in 2019 to $2.75 per gallon in 2021. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc., and labor for the .