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Blacksandfarmer
Veteran Advisor

Re: Big price at land rent auction?

Belarus the new word on the street is that Stoy's are NOT the ones that put up the big Money for this farm but rather a farmer west of Payne Ohio in Indiana. Being that Stoys farm somewhere around 12,000 to 15,000 acres in Michigan, Indiana and Ohio I think everybody believed that it was them putting up the money. Stoy's might have made this one work, if its true that the new tenant is from that area of Indiana they will have a real surprise when they look at the yield monitor in the fall and it reads much lower than 200 bushel on corn.

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SpringBrookFarm
Veteran Contributor

Re: Big price at land rent auction?

I dont know where your kid went to college, but i know at K-state all scholarships and grants and sent stright to k-state then applied to tuition and other fees. If they have anything left over the student gets a check sent to them to use on whatever they want. Im sure they deserve the scholarships, but it seems to me it is for educational use not play money. Their money should be held back for later school expenses or sent back to those that gave it to them in the first place to allow others the oppurtuinity for a scholarship. I know of one kid that bought an exhaust package for his pickup with it, because im sure every college kid needs that. I personally used my extra to pay ahead on several months rent, at least it had something to do with school as i needed a place to live while attending school.

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Blacksandfarmer
Veteran Advisor

Re: Big price at land rent auction?

Belarus I found out the name of the guy that will be making a near 70 mile trip to his $370 an acre 140 bushel an acre corn ground. I will not give a name on here but he is out of Allen County IN. Apparently this guy has been picking up 500 to 1000 acres a year now for a while or at least he likes to. Maybe Ill get a chance to meet you at his farm auction next year haha!

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nwobcw
Advisor

Re: Big price at land rent auction?

  What does he have in the way of tractors?

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Blacksandfarmer
Veteran Advisor

Re: Big price at land rent auction?

I am not sure, my source who personally knows of this guy didn't get much into detail. All he said is that this guy is a very good manager but is probably waaaaay to ambitious. Not to beat a dead horse on this topic but I still can't wrap my head around that kind of rent. I could see if the ground was around Archbold and the guy lived near by. Driving or having equipment hauled 60 or 70 miles one way and paying $370 for mediocre dirt that MIGHT run 150 bu corn in a good year is crazy. Allen county dirt is pretty good and this guy must be under the illusion that this farm is close to the same. He will get a real surprise when he shows up and finds ground with sand hills and stones. If a local BTO rented this farm I could see them making this work enough to break even but this guy may find out the hard way. I wonder if they had soil test on display for this farm auction? Unless this farm had an average organic matter level of 4 or 5 and the CEC averaged 15 he made a bad mistake!

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nwobcw
Advisor

Re: Big price at land rent auction?

   I know what you mean by how ground can be different and close.  I have 1 farm comprised of 2 40 acre fields seperated by a ditch.   There is usually a 7 bushel difference in beans.  If I didn't farm it myself I would never believe it.  Speaking of Archbold.  I attend the hay auction there and from talking to local people there they tell me there is big difference in ground north or south of town.  It also seems like they haven't been getting the rains like some of us have.  The last few years crops around my area have looked every bit as good as down there, which is unusual.

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huserag
Contributor

Re: Big price at land rent auction?

The man that rented it (rumored) also owns an elevator, and other businesses. He also farms in Adams co in Ind, Mercer, Van Wert and Paulding co in Oh. Word around Adams Co is he subrented it to a mid 20's BTO. We are 2 hrs away by truck from that land. This kid did rent Wells co county home farm for $291 an ac. That was in the paper and some friends were at the rent auction. I know it is for two years with the option to opt out after one.

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fernwood
Frequent Contributor

Re: Big price at land rent auction?

Have not read all the replies to so excuse me if I repeat anything that has already been said.  

 

Farming is a business.  If someone wants to pay big money to rent land that is their perogative.  Through the years I have paid more for land than many thought I should have.  I am sure I have been talked about and it was said, more than once, that I would never make it.  Well, they haven't sold me out yet and it does not look like it will happen in the near future.   

 

I am not a BTO.  In fact, I am on the small side when it comes to grain farming.  I just try to take care of my own business and not second guess how someone else is running theirs.  Everyone has different goals and objectives in life and we need to respect that.  

 

As the old saying goes, the only people not making mistakes are those not doing anything.     

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