Document Type
Article
Publication Date
2021
Publication Title
Journal of the ASFMRA
Keywords
land economics, land use, agricultural finance
Abstract
In recent years, cash rent leases have become increasingly popular among farm landowners in Illinois. Since 1995, acres operated under cash rent leases have increased 44%, 105%, and 117% in northern, southern, and central Illinois, respectively, for farms enrolled in the Illinois Farm Business Farm Management (FBFM) Association. Using data collected from the United States Department of Agriculture (USDA) National Agricultural Statistics Service (NASS), Illinois FBFM Association, University of Illinois farmdoc, and Environmental Working Group (EWG), we examined the impact of multiple factors on farmland leasing choices. Results indicate that commodity prices, soybean revenue, government crop insurance expenditures, and commodity payments have influenced the increasing use of cash rent leases.
DOI
10.22004/ag.econ.322698
Recommended Citation
Styan, Jacob; Boerngen, Maria A.; and Barrowclough, Michael J., "Factors Influencing Increased Usage of Cash Rent Leases in Illinois" (2021). Faculty Publications - Agriculture. 11.
https://ir.library.illinoisstate.edu/fpag/11
Comments
First published in the Journal of the ASFMRA (American Society of Farm Managers and Rural Appraisers), 2021, http://dx.doi.org/10.22004/ag.econ.322698. Posted with publisher permission.