As the Midwest agriculture sector faces another year of low profits, farmers need to take a closer look at their farm balance sheet, which is a snapshot of their financial condition on a specific day. The market-value balance sheet is based on the current value of farm assets owned,...

With lower grain prices, higher interest rates, and increased production costs, some farms are facing a challenging financial situation. According to the Federal Reserve, the number of individuals experiencing severe financial stress remains low, but the trend is moving upward. The hard news is...

Having a well-written farm lease is vital in today's farm rental marketplace. The purpose of this article is to provide tips to consider when constructing a cash farm lease in Illinois. Landowners and farmers can find farm lease templates online. Commonly used lease templates in Illinois are...

A flexible cash lease is an alternative to a straight cash lease. The flexible cash leash protects the farmer and landowner from economic loss. This type of lease can prevent a farmer from committing to a lease that requires a high guaranteed rent payment, allowing the landowner to have a higher...

Draining excess water from farm fields in Illinois is vital to food and renewable fuel production. However, the lack of adequate farm drainage is a serious problem. Many older farm drainage systems are still in place but are past their viable economic use value due to being obsolete, inefficient,...

One of the most consistently asked questions to University of Illinois Extension offices across the state is, what is the going rate for cash rent for farmland?Cash rent rates are a common yet recurring question that is continuously researched...

When heavy rains result in ponded fields, the cause is poor drainage. Old field tiles in poor condition and/or undersized cannot efficiently remove excess water fast enough. When left unaddressed, the problem will worsen over time, resulting in compacted fields and lower yields.  Fixing the...

Farm drain tiles are vitally crucial to the success of Illinois crop production. These underground drainage systems help provide good soil-based crop growing conditions by removing excess water from the soil. A balanced mixture of air, water, and soil is crucial for plant health, as excessive...

Competition for farmland is fierce. Many other farmers may want to work the same land you do, whether renting or buying. Farming is a highly competitive business. Being efficient in business is essential to successful farm operations. Prioritizing management activities that will increase...