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In recent years, cash rent leases have become increasingly popular amongst farm landowners in Illinois. Since 1995, cash rent usage has increased 44%, 105%, and 117% in Northern, Southern, and Central Illinois, respectively for acres enrolled in FBFM. Using data from USDA-NASS, EWG, FBFM, and University of Illinois farmdoc, information on several variables was collected from all 102 counties in Illinois over a 21-year period to examine their impact on the leasing market. Results indicate crop insurance payments, corn price, soybean price, corn revenue, soybean revenue, and commodity payments have influenced the increasing use of cash rent leases in Illinois. Introduction and Background Over the last two decades, Illinois has experienced a dramatic increase in the use of cash rent leases. From 1995 to 2015, cash rent usage saw an increase from 41 to 59 percent (a 44 percent rise) in Northern Illinois, 20 to 41 percent (a 105 percent rise) in Southern Illinois, and 18 to 39 percent (a 117 percent rise) in Central Illinois, among farms enrolled in FBFM (Lattz, 2016; Lattz and Zwilling, 2020; Schnitkey, 2002; Zwilling, Krapf, and Raab, 2013). These three regions are illustrated in Figure 1, with their respective changes shown in Figures 2-4. Following the trend towards more cash rent lease usage, cash rent prices have also been increasing. In Illinois, from 1987 to 2014, cash rent prices increased, on average, 3.6 percent annually. Since 2006, cash rent prices have increased by 7.4 percent annually (Schnitkey, 2017a). Based upon the 2017 Census of Agriculture, it was found that just over 58 percent of farmland in Illinois is leased, while nearly 42 percent is owner-operated. Nationally, it was found

Increased Usage Of Cash Rent: Factors Influencing Illinois Farmland Leases Over The Past Two Decades