Decreasing Farm Cash Rents

Decreasing Farm Cash Rents

Corn stalks in a field. Corn stalks in a field.

September 28, 2015

NASHVILLE, Tenn (RFD-TV) According to an annual survey given by the University of Illinois Extension, cash rents on professionally-managed farmlands are expected to decrease. The survey provides a good indicator of these rents according to Gary Schnitkey from the University of Illinois. Schnitkey helps to develop the survey and tally the results. Those can be found on the Farm Doc Daily website categorized for farms with corn yields less the 150 bushels to the acre to those over 190. The move to lower cash rents is needed, and doesn't surprise Schnitkey. 

The first year the Illinois Society collected cash rents on professionally-managed farmland was in 2007. The average was $183 per acre and $17 higher than the overall average for the state.  The professional farm managers cash rent peaked at $396 in 2013. This would be the third year in a row they've dropped cash rents, but that trend does not translate to the state as a whole. Last year was the first year state wide cash rents in Illinois decreased. 

For more coverage on this story visit the ISPFMRA website.

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