Below are the results from the most recent Iowa Farm Custom Rate Survey from Iowa State University. These reported values are compiled to be used as guidelines when setting rates, however there are many situations where a rate would vary from these averages due to machinery available, field shape, crop conditions, etc.
The average custom farming rate is expected to be down slightly at $128.80/acre for corn and $117.10/acre for soybeans in 2018. The average machinery operating wage expected to be paid in 2018 has increased over $1.00 from last year to $16.30 per hour.
You can use the dropdown below to see more detailed information and average rates for various categories (tillage, planting/drilling/seeding, spraying, fertilizer application, harvesting/drying/hauling grain, harvesting forages, custom farming, farm labor wages, miscellaneous services, bin rental, and machine rental).
The methodology and full results from ISU’s 2018 Iowa Farm Custom Rate Survey can be found here: https://www.extension.iastate.edu/agdm/crops/pdf/a3-10.pdf
Michelle Mensing is a Research Analyst with Decision Innovation Solutions (DIS). DIS is an Iowa-Based economic research firm which provides regular farm economics research and analysis to the Iowa Farm Bureau staff and members.