Recent auctions demonstrate strong land and equipment values


BYMATT REESE A year ago, there was quite a bit of


talk about the steadily climbing value of land. “Prices are sky high everywhere and


continue to increase,” said Barry Ward, OSU Extension’s leader for production business management, in April of 2011. Ohio’s cropland values rose from an


average $2,400 per acre in 2000 to $4,000 per acre in 2010, Ward said. Since then, prices have gone nowhere but up. For this reason, Ohio’s Country Journal is


starting to gather land auction results from around the state and share them periodically to keep readers informed of land prices and equipment prices from auctions around the state. Here are the results from some recent Ohio auctions. The Donald and Janet Hockman


Auction, just outside of Bremen in Fairfield County in late March, attracted 1,200 people. The beautiful 71-acre farm with nice buildings, grain bins and a ranch home sold for $470,000 at a Leith Auctions sale. In terms of equipment, an


The RFS battle continues


BYMATT REESE In a battle of contentious letters, the


opposing sides of the Renewable Fuel Standard debate have been engaged in a war of words. The National Chicken Council joined


a diverse group of business, hunger and development, agricultural, environmen- tal, budget, grassroots and free market organizations in urging Congress to reject any efforts to include continued or expanded federal support for corn ethanol in any legislation with a letter sent March 22 to Senate leadership. The groups expressed their opposi-


tion to: Any renewal of the Volumetric


Ethanol Excise Tax Credit or any other similar tax credit; Altering the requirements of the


Renewable Fuels Standard in a way that would open the definition of advanced biofuels to include corn- based fuels; Any expansion of current alternative


fuel tax credits that would allow ethanol blends (E10, E15, or E85) or


related infrastructure projects to quali- fy for the credit; and Funding for ethanol “blender


pumps” or any other ethanol infra- structure projects. “Any one or combination of these


policies would only serve to subsidize the market for fuels derived from corn, especially corn ethanol, and exacerbate the many environmental, social and eco- nomic challenges associated with those fuels,” the groups wrote. “Again, we urge you to reject efforts to include con- tinued or expanded federal support for corn ethanol in any legislation.” This was soon followed with a terse


rebuttal from biofuel supporters that pointed out the RFS role in moderating gasoline prices, reducing foreign imports, and supporting the advanced and cellulosic biofuels sector. The American Coalition for Ethanol (ACE), Advanced Ethanol Council (AEC), Biotechnology Industry Organization (BIO), Growth Energy, Renewable Fuels Association (RFA), National Corn


Ohio State Fair greening up with soy With soy biodiesel powering trams


and carnival rides, soy-based paint freshening up show barns and soy- based cleaning products getting the fairgrounds ready, 13 fairs, including the Ohio State Fair, will be a little greener this year with the help of the United Soybean Board (USB) and the soy checkoff. “U.S. soy feeds the animals that pro- vide the meat we eat, but soy does a lot


Growers Association (NCGA), 25x’25 Alliance and Energy Future Coalition sent a letter urging Congress to support the RFS and reject attempts to reduce, waive, or eliminate it. “Today, ethanol is approximately $1


cheaper than gasoline and blending ethanol into U.S. gasoline saves con- sumers at the pump,” the groups said. A Center for Agriculture and Rural


Development analysis found that from 2000-2010, ethanol reduced gasoline prices at the pump an average of $0.25 per gallon, which meant consumers annually saved $34 billion dollars. “Thanks in part to the RFS, U.S. oil


imports fell below 50% in 2010 for the first time since 1997, and, oil imports stand as just 45% today. Ethanol accounts for 81% of all new domestic fuel production since 2005,” the groups stat- ed. “Because of the RFS, the advanced and cellulosic biofuels industry is now in the process of building new plants, inno- vating existing production facilities with emerging technologies, and introducing


new product streams that will allow the renewable fuels sector to become more profitable, diversified and efficient.” Ethanol and biofuels supporters also


pointed out the economic benefits in terms of building upon investment in the industry. “Several billion dollars have been


invested in advanced biofuels develop- ment with the expectation that Congress will stay the course with regard to its com- mitment to the industry and to the stability of the RFS. Efforts to amend or reform the RFS would send a chilling signal to a mar- ketplace at just the time when the advanced and cellulosic biofuels industries are on the cusp of commercial production to help meet this nation’s energy inde- pendence and security needs.” The groups concluded, “Anything


short of full support for the RFS will exacerbate the problem of increasing gas prices and undercut the ethanol indus- try’s efforts to innovate and continue to deliver domestically-produced and affordable alternatives to foreign oil.”


original, un-restored 1972 JD4020 with 3,600 hours brought record price of $28,000 with bidders from four states. A 1992 JD9400 combine with 1679/2658 hours in excellent condition with bidders from three states brought $49,500. Other highlights from the auction include: ·An outstanding 1930 Ford Model A


two-door coupe with rumble seat and overdrive in award winning condition for $18,500 · 1999 JD3400 tractor with 4x4, deck, front blade and 685 hours for $15,000


· 2004 JD Gator HPX with 4x4 and 284


hours for $7800 · JD1560 NT drill (10-foot) for $18,750 · Ford 555A backhoe for $14,000. On the same day, there was a Stanley


& Son, Inc. Burton Trust Auction for a 157-acre Pickaway County farm with a final bid and selling price of $7,200 per acre. Earlier in the season, CK Clemans LLC had Stanley & Son sell 91.9 acres of farmland in Licking County for $6,900 per acre with an additional $16,000 for 11.6 acres of timber rights.


more than that,” said Geno Lowe, a soy- bean farmer from Hebron, Md., and USB farmer-director. “U.S. soy is increasingly popular as a ‘green’ ingre- dient in everything from biofuel to paint to cleaning products and more.” Lowe and his fellow USB farmer-


directors selected the 13 fairs as part of a competitive application process. Through the Green Ribbon Fairs reim- bursement program, now in its second


FCS reports strong financial 2011 Farm Credit Services of Mid-America,


an agriculture lending cooperative serving more than 95,000 customers throughout Indiana, Ohio, Kentucky and Tennessee reported strong financial results for 2011. The ag lender stated earnings of $278.6 million, a 30.2% increase over 2010 and owned and managed assets of $18.4 bil- lion, a 5% increase over 2010. President and Chief Executive Officer,


Bill Johnson, said strong farm earnings continue to bolster the farm economy and that has had a positive impact on the earn-


year, the checkoff works with fairs across the country to promote the use of soy-based products such as biodiesel, paint, cleaners, hand sanitiz- ers and more. At the Ohio State Fair, the soy prod-


ucts will be used for the second consec- utive year in the Agriculture and Horticulture Building that houses the Ohio Farm Bureau display. The Green Ribbon Fairs funds will be used


throughout the 40,600 square foot build- ing to purchase soy-based hand sanitiz- ers, paint, cleaning supplies, and gar- dening products for the many plants housed in the building. “We’re thrilled that we can continue


to promote agriculture in a unique way with soy products at the 2012 Ohio State Fair,” said Alicia Notestone Shoults, Marketing and Public Relations Director for the Ohio Expo Center and State Fair.


ings of the association. “The farm sector continues to be a


bright spot in an otherwise unpredictable economy,” Johnson said. “That, coupled with the low interest rate environment, allowed us to offer competitive interest rates to customers on loans so they are able to grow their operations.” As an example, more than 24,000 Farm


Credit loans representing $4 billion in vol- ume were converted to lower rates in 2011 which will save customers an estimated $94 million during the next three years.


“As a cooperative it’s always been Farm Credit’s ultimate goal to get the best rate value for our customers. For more than a decade the Farm Credit Loan Conversion Program has offered customers a simple way to redo higher-rate loans to take advantage of a more competitive interest rate environment,” said Johnson. Another way the association provided


value to rural communities in 2011 was through the availability of long-term fixed rate financing for farms. “Almost 50% of our customers have


fixed rate loans of 10 years or longer. In today’s volatile farm environment, one way to ensure that the cost of farmer’s financing remains consistent is through fixed rates,” he said. Farm Credit Services of Mid-America is


also growing its human capital base to meet marketplace demands, improve cus- tomer service and prepare for planned retirements in the next three to five years. Hiring and training an exceptional team was a crucial focus in 2011 and will remain a priority in 2012.


Ohio’s Country Journal • ocj.com • Mid-April 2012 7


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