Foreign Investments in Ohio Farmland

By:  Vishavdeep Sharma, a Ph.D. student in the Department of Agricultural, Environmental, and Development Economics at The Ohio State University, Rabail Chandio, an Assistant Professor in the Department of Economics at Iowa State University, and Ani L. Katchova, a Professor and Farm Income Enhancement Chair in the Department of Agricultural, Environmental, and Development Economics at The Ohio State University.

Click here to access the pdf version of the report.

In recent years, Ohio has experienced a significant increase in foreign investments in farmland resulting in 529,269 acres being held by foreign investors in 2022, contributing to the national trend of increasing foreign ownership of US farmland with 43,418,141 acres held by foreign investors in 2022.

The proportion of foreign held to privately held farmland was 2.7% in Ohio, 2.2% in the Midwest, and 3.4% in the US in 2022.

The Agricultural Foreign Investment Disclosure Act (AFIDA) is a federal law that requires foreign investors to disclose transactions of US farmland. Ohio’s legislation, named “Save our Farmland and Protect our National Security Act,” additionally maintains a registry of individuals and organizations prohibited from acquiring farmland in the state of Ohio.

In Ohio, Canada (14.9%) and Germany (14.6%) lead foreign investments in farmland. The largest proportion of foreign held farmland is by Canadian investors at 32.1% of the total foreign held farmland in the US, and at 26.5% of the total foreign held farmland in the Midwest.

 

2024 Second Quarter Fertilizer Prices Across Ohio

Authors: Amanda Bennett, Eric Richer, Clint Schroeder, OSU Extension

Click here to access a PDF version of this article

Results from a quarterly survey of retail fertilizer prices in the state of Ohio revealed fertilizer prices were slightly lower than national averages reported by Progressive Farmer – DTN (Quinn, 2024). The survey was completed by 32 retailers, representing 19 counties, who do business in the state of Ohio. Respondents were asked to quote spot prices as of the first day of the quarter (April 1st) based on sale type indicated. This is part of a larger study conducted by OSU Extension to better understand local fertilizer prices, which began in December 2023.

In summary, survey participants reported the average price of all fertilizers was lower in Ohio compared to the national prices, except for DAP (18-46-0) at $785/ton in Ohio versus $780/ton nationally, (Quinn, 2024).

The chart below (Table 1.) is the summary of the survey responses. The responses (n) are the number of survey responses for each product. The minimum and maximum values reflect the minimum and maximum values reported in the survey. The average is the simple average of all survey responses for each product rounded to the nearest dollar. We recognize that many factors influence a company’s spot price for fertilizer including but not limited to availability, geography, volume, cost of freight, competition, regulation, etc.

Table 1. Second Quarter 2024 Ohio Fertilizer Prices

 

 

Product Responses (n) Sale Type Min

$/ton

 Max

$/ton

Avg

$/ton
Anhydrous ammonia 82-0-0 15 FOB Plant $707 $870 $785
UAN 28-0-0 19 Direct to Farm $309 $600 $348
Urea 46-0-0 17 FOB Plant $522 $680 $561
MAP 11-52-0 19 FOB Plant $745 $1079 $795
DAP18-46-0 9 FOB Plant $760 $830 $785
APP 10-34-0 20 Direct to Farm $553 $680 $602
Potash 0-0-60 20 FOB Plant $432 $512 $472
Ammonium Sulfate 21-0-0-24 18 FOB Plant $430 $585 $479
Ammonium Thio-Sulfate 12-0-0-26 13 FOB Plant $325 $448 $385
Poultry Litter 9 Delivered & applied, <25 miles $45 $72 $55

When compared to results from the previous quarter’s survey, prices for fertilizers saw a modest increase, with only anhydrous ammonia, MAP and potash showing a slight decrease. DAP and urea saw the most increase in price from the previous quarter with DAP up $50/ton and urea up $59/ton. This increase equates to an increase in price of 9% for both DAP and urea. Only ammonium thio-sulfate remained unchanged.

Quarter 2 survey data included nine responses to questions about poultry litter, delivered and applied within a 25-mile radius of the facility. Prices ranged from $45-72/ton with an average of $55/ton reported. If you are a retailer interested in participating in this study, please contact Amanda Bennett at bennett.709@osu.edu.

Resources

Bennett, A., Richer, E., & Schroeder, C. (2024). 2024 First Quarter Fertilizer Prices Across Ohio. Ohio Ag Manager Blog.

https://u.osu.edu/ohioagmanager/2024/01/17/first-quarter-2024-fertilizer-prices-across-ohio/

Quinn, R. 2024. DTN Retail Fertilizer Trends. DTN Progressive Farmer. Accessed online April 11, 2024 at https://www.dtnpf.com/agriculture/web/ag/crops/article/2024/04/10/uan28-leads-fertilizer-prices-higher

Farm Office Live to be held on April 19 from 10:00 a.m. to 12:00 noon

OSU Extension and the Farm Office Team is pleased to be offering the “Farm Office Live” webinar on Friday, April 19, 2024 from 10:00 to 12:00 noon

This month’s webinar will feature the following topics:

  • CAT Tax – Closing Accounts
  • Taxation of Equipment Trade-ins
  • 2024 Crop Input Outlook
  • OSU Fertilizer Survey Q2 Release
  • Dairy Margin Coverage Program
  • Beginning Farmer Tax Credit Update
  • Transferring Operating Assets
  • Beneficial Ownership Reporting Update
  • Trends in Farm Appraisals

Featured presenters will include: Jason Hartschuh (OSU Field Specialist- Dairy Management and Precision Livestock), Clint Schroeder (Program Manager – Farm Business Analysis), Robert Moore (OSU Ag and Resource Law Program), Amanda Bennett (OSU Extension Educator), Barry Ward and Jeff Lewis (OSU Income Tax School Program), and David Marrison and Eric Richer  (OSU Field Specialists -Farm Management) and special guest Tim Harpster.

To register for this program (or to access replays of previous programs):

go.osu.edu/farmofficelive

Ohio Farm Numbers, Land in Farms, and Agricultural Land Lost to Development

By: Professor Ani Katchova, Farm Income Enhancement Chair and PhD students Xiaoyi Fang and Rae Ju in the Department of Agricultural, Environmental, and Development Economics (AEDE) at the Ohio State University.

Click here to access the pdf version of the report.

According to the Census of Agriculture, the number of farms in Ohio decreased from 77,797 farms in 2002 to 76,009 farms in 2022, a decrease of 2.3% over the 20-year period.  Land in farms in Ohio decreased from 14,583,435 acres in 2002 to 13,652,346 acres in 2022, leading to a loss of 931,089 acres between 2002 and 2022, representing a 6.4% decrease.

According to the National Land Cover Database (NLCD) of the Multi-Resolution Land Characteristics Consortium using satellite imagery data (https://www.mrlc.gov/eva/), 355,085 acres in agricultural land (cultivated crops and pasture/hay) were lost in Ohio from 2001 to 2021. Specifically, 180,691 acres of agricultural land in Ohio was lost to development, which represents 51% of the agricultural land loss being attributed to development from 2001 to 2021.

Counties located in Metropolitan Statistical Areas (MSAs) had among the largest percentage declines in farm numbers (by about 35%) and land in farms (by about 35% to 65%) and among the highest percentages of agricultural land lost to development (above 65%) across the state of Ohio.

 

OSU Extension Farm Office Live to be held on Friday, March 15 from 10:00 to 12:00 noon

OSU Extension and the Farm Office Team is pleased to be offering the “Farm Office Live” webinar on Friday, March 15, 2024 from 10:00 to 12:00 noon

This month’s webinar will feature the following topics:

  • 2nd Marriages and Transition Planning
  • Legislative Update
  • New Rule for Independent Contractors
  • 2024 Crop Input Outlook
  • Industry Panel on WASDE and Strategies for the 2024 Grain Marketing Plan
  • Hot Topics
  • Upcoming Programs

Featured presenters will include: Robert Moore and Peggy Hall (OSU Ag and Resource Law Program), Barry Ward and Jeff Lewis (OSU Income Tax School Program), and Bruce Clevenger  (OSU Field Specialist -Farm Management).

To register for this program (or to access replays of previous programs):

go.osu.edu/farmofficelive

Characteristics of Ohio Women in Agriculture

By: PhD student Rae Ju and Professor Ani Katchova, Farm Income Enhancement Chair, in the Department of Agricultural, Environmental, and Development Economics (AEDE), and Nanette L. Neal and Sarah Noggle, Extension Educators in Agriculture and Natural Resources in the College of Food, Agricultural, and Environmental Sciences Department of Extension at the Ohio State University.

Click here to access the pdf version of the report.

Using data from the 2022 Census of Agriculture, the characteristics of female farmers in Ohio are examined and compared to the overall farming population. Continue reading →

Ohio Farmland Leasing Update webinar is March 1

Northeast Ohio Small Farm Financial to be held in Cortland, Ohio on March 9 and 16

By: Lee Beers, Extension Educator – Trumbull County

Small and beginning farmers in NE Ohio are encouraged to participate in the new in-depth farm management educational program! The college will consist of two Saturday courses to be held on the March 9 and March 16, 2024. Both days will run from 9:00 AM – 3:00 PM with lunch included. Both days will be held at the OSU Extension Trumbull County Office, located at 520 West Main St in Cortland, Ohio. This course will offer 10 hours of farm management education that will help start your farm on the path to financial success.

The college is designed to help landowners examine potential ways to increase profits on their small acreage properties. The program is open to all new or aspiring farmers, new rural landowners, small farmers, and farm families looking for new ideas. During this college, participants will be challenged to develop realistic expectations for their new farm business. They will receive information on getting started, identifying the strengths and weaknesses of their property, and developing a farm business plan. Information on farm finances, insurance, liability, labor, and marketing will be covered during the college.

The cost for the college is $100 per participant, with the option to bring an additional family/farm member for $50. This program also qualifies attendees for the Ohio Department of Agriculture’s Beginning Farmer Tax Credit Program. Those interested in receiving this credit would be subject to additional requirements and fees (More information is available later in this release and online). Those interested in registering for this college, please access: https://osu.az1.qualtrics.com/jfe/form/SV_4HqwjHUs1yJGQx8

More information about the college can be obtained by calling the Trumbull County Extension office at 330-638-6783

 

 

 

 

OSU Extension Launches New Food Business Central Online Course

By Emily Marrison, Assistant Professor and Extension Educator- Family & Consumer Sciences in Coshocton County

Are you a baker ready to sell your home-baked goods? Are you a farmer looking for value-added opportunities for crops you’ve grown or livestock you’ve raised? Are you an entrepreneur aiming to use local agricultural products to make value-added foods? The new Food Business Central online course through Ohio State University Extension can equip you with knowledge and strategies to launch a successful farm-raised or home-based food business in Ohio.

Navigating food regulations, establishing a new business, and applying best practices for food safety can be challenges for food entrepreneurs. “Many people interested in starting a food business aren’t sure where to turn first,” says Emily Marrison, OSU Extension Family and Consumer Sciences Educator and course development team member. “This course is designed to serve as a centralized hub to connect participants to information and resources regarding all types of food products they might want to make and sell.”

OSU Extension experts will help you develop a Food Business Action Plan and learn what you need to start off organized, safe, compliant, and strategic. The self-paced course focuses on several food types including cottage foods and baked goods, canned foods, meat, poultry, eggs, and more. Throughout the course participants will consider key questions and develop action steps to take on their journey to start a food business. As food entrepreneurs complete the course, they will have the answers they need to complete a business plan with help from their local Small Business Development Center. The cost of the course is $25, and registration is at go.osu.edu/foodbusinesscentral .

The development of the Food Business Central online course has been funded through a grant from North Central Extension Risk Management Education. This assistance comes from the United States Department of Agriculture through the National Institute of Food and Agriculture to develop resources that help farmers and ranchers effectively manage risk in their operations. Click here for informational flyer

OSU Extension Farm Office Live to be held on Friday, February 16 from 10:00 to 11:30 a.m.

OSU Extension and the Farm Office Team is pleased to be offering the “Farm Office Live” webinar on Friday, February 16, 2024 from 10:00 to 11:30 a.m.

This month’s webinar will feature the following topics:

  • Ag & Natural Resources State Update
  • Reporting for the Corporate Transparency Acy
  • 2024 Crop Input Outlook
  • OSU Extension’s New Food Business Central Course
  • Legislative Round-up
  • Spring Crop Insurance
  • Farm Bill Update – A Panel Discussion
  • Upcoming Programs

Featured presenters will include: Chris Zoller (OSU Extension Interim State ANR Leader), Robert Moore & Peggy Hall (OSU Ag and Resource Law Program), Barry Ward (OSU Income Tax School Director), David Marrison & Eric Richer (OSU Field Specialists -Farm Management), Emily Marrison (Assistant Professor and Family & Consumer Sciences Educator), Clint Schroeder (Program Manager – Ohio Farm Business Analysis Program) and Brandon Kern (Director of Public Affairs and Issues Analysis- Ohio Soybean Association)

To register for this program (or to access replays of previous programs):

go.osu.edu/farmofficelive

More information about this program can be accessed at farmoffice.osu.edu