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The study also noted the majority of agricultural land near solar and wind farms remains in farming despite the expansion of renewable energy projects.
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This could mark the second year in a row that the 2018 Farm Bill gets extended.
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From 2022 to 2023, the base tax rate rose 16 percent. This year, it went up nearly 27 percent. And next year, it’s estimated to increase by another 20 percent.
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The average price of top-quality farmland reached $14,392 per acre, a 4.8 percent increase from June 2023.
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Thin profit margins and handling Mother Nature mean it's never easy to work in agriculture. But low grain markets have made things even more difficult in 2024.
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For the third year in a row, Indiana farmers have set a record for the most acres of cover crops planted — more than 1.7 million acres.
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Congress redefined hemp in the 2018 Farm Bill, allowing farmers to add the crop to their usual rotation of corn and soybeans. But six years later it’s rare to see hemp growing in Indiana.
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The funds will be used to expand exports beyond traditional markets to places such as Africa, Latin America and the Caribbean, and South and Southeast Asia.
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According to the USDA, 54 percent of Indiana’s corn and 49 percent of the state’s soybeans have been planted so far.
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Nineteen percent of those surveyed say they have had discussions with solar developers in the last six months, up from 12 percent in March.