Clinton County, Indiana
2023 Land Sales Report
After several years of significant increases in value, price per acre values rose in 2023 and in some areas we have seen stabilization in 2024. There are localized areas that have also continued to see a rise in land value, with significant 1031 exchanges factoring into the local marketplace.
If you’d like to get specific land values on your own farmland or a farm near you for 2024, please contact Johnny Klemme today at (765) 427-1619
Average Price of Land*
Avg. $13,668/acre
April – December of 2023*
As high as $18,500/acre
in 2024*
Land Market Commentary & Local Trends
Overall, the average price of farmland in our sampled data report from April – December of 2023 was $13,668/acre and the average price per productivity index point was $170.55 based on the below sampled data. It is important to note that in 2024 there have been several farmland sales in the $14,000 per acre range and as high at $18,500 per acre.
Since 1977, the Geswein Farm & Land Team has been advising farmland owners on the sale, management, and stewardship of land based on most current, accurate, and relevant data. The information in the sampled data report below can provide you with a rough estimate of your farmland value; however, understanding the specific characteristics of your property and how they compare to the other sales will provide the most accurate value of your property. Additionally, properties sold by land brokers via auctions or listings consistently outperformed individual to individual transactions and properties sold by traditional home realtors.
Understanding the true value of your farmland is crucial for making informed decisions about the sale, succession planning, or management. Many landowners may not realize how valuable their farm is, often underestimating the price per acre they can achieve. Accurately assessing farmland values ensures you are well-positioned to maximize your returns, whether through a traditional sale, auction, or strategic farm management practices that enhance your land’s worth over time.
According to Land.com in early July 2024, nearly 1,000 acres were listed for sale in Clinton County, Indiana. The value of all Clinton County farms, rural land, hunting land, and other land for sale was approximately $16 million. Clinton County ranks 69th out of 92 counties in the Hoosier State for the total number of acres of land currently advertised for sale. Among all the land for sale in Clinton County, Frankfort featured the most listings. Clinton County is the 44th largest county in Indiana, covering 405 square miles, and is located in the West Indiana region.
As we continue to look at the actual farmland sales data, we will provide a follow up report once the 2024 Purdue Agricultural Economics Report (PAER) from the Purdue University School of Agricultural Economics is released in August. This annual survey report always offers valuable insights into farmland values across Indiana, including Clinton County. The PAER report provides detailed analysis on the price per acre, helping landowners understand market trends and the factors influencing farmland values. By also utilizing data from the PAER report, landowners in Clinton County can make informed decisions to maximize the value of their farmland investments.
The most recent USDA farmland census reveals that Clinton County has approximately 205,912 acres of farmland. The county’s average farm size is around 391 acres, with over 526 farms operating within its borders. Corn and soybeans are the predominant crops, contributing significantly to the local agricultural economy. The census also indicates that the majority of farm operators in Clinton County are family-owned businesses, emphasizing the importance of agriculture to the community’s heritage and economy.
Overview of Clinton County Agriculture
Location and Geography: Clinton County is located in the central part of Indiana, with fertile soil and a climate suitable for various types of farming. The county’s geography includes flat to gently rolling terrain, making it ideal for large-scale agricultural operations.
Major Crops:
- Corn: Clinton County is a significant producer of corn, which is a staple crop in the region. The fertile soil and favorable growing conditions contribute to high corn yields.
- Soybeans: Alongside corn, soybeans are another dominant crop. The crop rotation of corn and soybeans helps maintain soil health and optimize yields.
- Wheat: Wheat is also grown, though to a lesser extent than corn and soybeans. It serves as a rotational crop and supports the county’s diverse agricultural profile.
Economic Impact: Agriculture is a major economic driver in Clinton County. The sector provides employment, supports local businesses, and contributes to the county’s overall economic stability. The income generated from crop and livestock sales helps sustain the local economy and supports community services.
Sustainability Practices: Many farmers in Clinton County are increasingly adopting sustainable practices to preserve soil health and protect the environment. These include no-till farming, cover cropping, along with a high percentage of nutrient management solutions. Efforts to conserve water and reduce chemical usage are also becoming more common.
Current State of Corn, Soybean, and Wheat Prices and Their Impact on Farmers
Corn Prices
As of July 2024, corn prices have been experiencing a downward trend. The USDA projected the average price for corn in 2024 at $4.40 per bushel, down from $4.75 in 2023. This marks a significant decrease from the highs of $6.54 per bushel in 2022. The decline in prices is largely attributed to increased supply and lower demand pressures (farmdoc daily)
Soybean Prices
Soybean prices have also seen a decline. The average price for soybeans is projected at $11.20 per bushel for 2024, down from $12.55 in 2023 and $14.20 in 2022. This drop is influenced by high global supply, particularly from Brazil, and fluctuating demand. The geopolitical climate, including the ongoing Ukraine-Russia conflict and changes in Brazilian export policies, continues to impact soybean prices (farmdoc daily) (Farm Progress).
Wheat Prices
Wheat prices have been somewhat more stable but still subject to market fluctuations. As of June 2024, the price for soft red winter (SRW) wheat was around $7.51 per bushel. Factors influencing wheat prices include weather conditions, geopolitical tensions, and competition from other major wheat-producing regions like the Black Sea area (Grain Farmers of Ontario).
Impact on Farmers
- Income Variability: Lower prices for corn and soybeans translate to reduced income for farmers, impacting their profitability. Farmers who did not lock in higher prices through forward contracts may face tighter margins.
- Cost Management: With commodity prices lower, farmers must carefully manage their input costs (e.g., seeds, fertilizers, fuel) to maintain profitability. Efficient resource use and cost-cutting measures become crucial.
- Market Strategy: Farmers might need to explore alternative marketing strategies, such as value-added products or niche markets, to improve their income streams. Additionally, maintaining flexibility in crop planning and diversifying crop rotations can help mitigate price risks.
- Geopolitical and Environmental Factors: The ongoing geopolitical issues and climate variability add uncertainty to the market. Farmers need to stay informed and adapt to changing conditions to optimize their production and sales strategies.
- Long-Term Planning: Farmers should consider long-term financial planning and risk management tools, such as crop insurance and hedging, to protect against future price volatility.
The current state of corn, soybean, and wheat prices presents challenges for farmers, requiring strategic planning and efficient resource management to navigate the fluctuating market conditions. Staying informed and adaptable will be key to sustaining profitability in this dynamic environment.
History & Background of Clinton County, Indiana: Home of the Hot Dog Festival
County Seat: Frankfort
Townships: Center / Forest / Jackson / Johnson / Kirklin / Madison / Michigan / Owen / Perry / Ross / Sugar Creek / Union / Warren / Washington
History: Named for DeWitt Clinton, early American politician and former governor of the state of New York
Population: 32,843
Cities & Towns: Frankfort / Colfax / Kirklin / Michigantown / Mulberry / Rossville
Acreage: 238,786
According to the USDA National Agricultural Statistics Service (NASS), the following crop statistics have been reported for Clinton County, Indiana.
The 2022 Ag Census for Clinton County, Indiana, reported the following crop statistics:
Number of farms: 526
Land in farms (acres): 205,912
Average farm size (acres): 391
Total market value of products sold: $274,170,000
Government payments: $1,111,000
Farm-related income: $10,009,000
Total farm production expenses: $221,927,000
Net cash farm income: $63,364,000
Sources / Citations:
Source 1:
“United States Department of Agriculture.” USDA, www.nass.usda.gov/Statistics_by_State/Indiana/Publications/County_Estimates/index.php#:~:text=Access%20Quick%20Stats%20Lite,to%20NASS%20Surveys%20and%20Programs. Accessed 8 July 2024.
Source 2:
“USDA.” 2022 Census of Agriculture County Profile, www.nass.usda.gov/Publications/AgCensus/2022/Online_Resources/County_Profiles/Indiana/cp18029.pdf. Accessed 8 July 2024.
*The transaction and land sales data/information contained in this report was obtained from publicly available sources and sales disclosures deemed accurate and reliable but not guaranteed, no liability for accuracy, errors or omissions is assumed by Geswein Farm & Land Realty, LLC
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