Since 2017, we’ve provided annual updates to a simple formula for calculating the average cash rent for a piece of farmland based on its average soil productivity and location within Illinois. Today’s article provides the latest in this series of updates to reflect the relationship between rental rates in Illinois for 2026, soil productivity, and location in the state. Individuals can apply this formula to their farms. It will provide an average cash rent based on data from the USDA NASS.

Artificial intelligence and data-driven tools are being applied to agriculture, from robotics, automation, and precision farming to predictive analytics and digital advisory tools (Aijaz et al., 2025; Edet and Chowdhury,…

Based on records from 1,927 Illinois FBFM farms, average returns to farm operators’ labor and management increased in every region of Illinois in 2025 compared with 2024. However, returns remained below the five-year average. Although yields and costs were similar to the previous year, earnings improved because commodity prices exceeded beginning-of-year inventory values and farmers received Farmer Bridge Assistance payments. Higher livestock prices also increased returns for livestock farms.

US corn harvest-time corn basis bottoms in mid-October, coinciding with the peak of harvest activity. Average basis at the harvest-time low is about 11 cents below late-November levels. State-level lows average 16 cents, deepest in Missouri, Indiana and Illinois, and more loosely track local harvest progress. Avoiding sales at the harvest will realize gains on average over time, though futures moves and other costs may swamp basis gains.

The Margin Coverage Option (MCO) is an area-based crop insurance endorsement that provides protection against operating margin shortfalls, which can be driven by revenue decreases, cost increases or a combination…

The average cash rent for Illinois farmland saw a small decline for the second year in a row in 2026. Higher corn and soybean prices have improved the return outlook for both 2026 and 2027 compared to the previous three crop years, and producers are expected to receive relatively large payment from the 2025 ARC/PLC programs in the next month. However, expected returns remain below longer-term averages. This suggests farmland rental rates will likely remain relatively stable heading into 2027.