Farm Business Management Blogs
The farm economy in central Illinois is entering yet another year of financial pressures. Recent projections show that, despite slight increases in market prices, many corn and soybean producers could expect negative returns. Long-term data shows that 2024 was the lowest income year for grain farms...
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This blog is the second part of a two-part series analyzing the 2025 Farmland Values Report published by the Illinois Society of Professional Farm Managers and Rural Appraisers (ISPFMRA). The report highlights the value of farmland sold in 2024, expectations for farmland values in 2025, and factors...
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The 2025 Illinois Land Values and Lease Trends report is a must-read for anyone involved in agriculture. This year's report uncovers fascinating shifts in farmland values and lease trends across the state. What factors are driving these changes? How are different regions adapting to new economic...
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This post is the second in a two-part series analyzing a United States Department of Agriculture Economic Research Service (USDA-ERS) report on the state of farms and ranches across the United States. Part One began by discussing the way farms are classified by the USDA, farm financial performance...
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The agricultural landscape in the United States is constantly evolving, and understanding the current state of farm and ranch operations is crucial for stakeholders across the industry. While the United States Department of Agriculture (USDA) conducts a complete census of agriculture every five...
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This is the second post of a two-part blog series exploring cash rents for 2025. Part One described what a cash rent agreement is, the different types of cash rent agreements, and the trends in cash rent rates across Illinois. This post will analyze the projections for farmer returns in 2025, how...
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With the 2024 growing year coming to an end, producers and farm operators are beginning to focus on the 2025 growing year. Producers are making decisions on what seed varieties they will plant, how they will market their grain for 2025 and beyond, what fertilizers they will apply, and a myriad of...
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This post is the second of a two-part blog series analyzing the impact of expiring federal tax provisions on farm businesses and households in central Illinois. Part one explored the current financial characteristics of farms across the United States and in Illinois and further examined the impact...
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Navigating the complexities of federal taxes can be challenging for farmers in Central Illinois. The 2017 Tax Cuts and Jobs Act (TCJA) and the American Rescue Plan Act (ARPA) of 2021 significantly changed federal taxes for individuals and estates. While many provisions of the TCJA were made...
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