Parker Smith grows corn and soybeans on land near Champaign, Ill., together with his father and uncle. But Smith Farms doesn't own most of the land it uses. "About 75 percent of what we farm is rented ground," he says.
This is common. Across the Midwest, about half of all the farmland is owned by landlords who live somewhere else. Farmers compete to rent that land. "There's only so much ground, and most of the farmers out there want more, so obviously it gets pretty competitive," Smith says.