Farmland cash rents in Illinois and across the United States will ease off this Fall (2024). That prediction is from University of Illinois Agricultural Economist Gary Schnitkey. https://media-cdn.socastsrm.com/wordpress/wp-content/blogs.dir/2626/files/2024/10/cash-rent1.mp3 “We did a survey of the Illinois Society of Professional Farm Managers and Rural Appraisers. We did that in August, and they were saying that their 2025 leases would be down $25 per acre from this year.” Schnitkey says that the $25 per acre reduction for next season is a start, but it will do little to cover this season’s losses. https://media-cdn.socastsrm.com/wordpress/wp-content/blogs.dir/2626/files/2024/10/cash-rent2.mp3 “So, just to give you a feel, we are projecting for Illinois FBFM farms something below $30,000 of net income for 2024. Cash rents went up from 2020 to 2025 by an average of about $40 in the state. So we’re beginning to see a retrenchment. A $25 reduction will help. It won’t get us back to the profitability levels, but it’s a start in that direction.“ Schnitkey suggests farmers in all rural areas work to lower their cash rent obligations for next season and to hold the line on input costs by using the online N-Rate calculator to maximize returns per pound of nitrogen applied at a projected $4.10 cash price for corn.