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Crop Revenue Less Crop
Costs, Corn and Soybeans, Central Illinois, Illinois |
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Farm Business Farm
Management, 1990 -- 2003. |
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Year |
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1990 |
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003F |
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$183 |
$181 |
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Panel A. Corn |
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Average yield |
149 |
131 |
176 |
151 |
182 |
128 |
161 |
148 |
152 |
166 |
165 |
168 |
161 |
190 |
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170 |
160 |
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Market price |
2.39 |
2.38 |
2.38 |
2.20 |
2.49 |
2.37 |
3.33 |
2.80 |
2.10 |
1.97 |
1.97 |
1.95 |
2.31 |
2.26 |
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2.25 |
2.25 |
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Effective LDP1 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.11 |
0.23 |
0.26 |
0.14 |
0.00 |
0.00 |
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Total price received |
$2.39 |
$2.38 |
$2.38 |
$2.20 |
$2.49 |
$2.37 |
$3.33 |
$2.80 |
$2.21 |
$2.20 |
$2.23 |
$2.09 |
$2.31 |
$2.26 |
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Crop revenue per acre2 |
$356 |
$312 |
$419 |
$332 |
$453 |
$303 |
$536 |
$414 |
$336 |
$365 |
$368 |
$351 |
$372 |
$429 |
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382.5 |
360 |
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Crop Costs per acre |
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Fertilizer |
53 |
55 |
52 |
51 |
53 |
62 |
61 |
62 |
62 |
$53 |
$53 |
$57 |
$55 |
$62 |
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$56 |
$56 |
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Pesticides |
22 |
24 |
24 |
26 |
28 |
29 |
33 |
34 |
33 |
31 |
32 |
33 |
34 |
34 |
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36 |
$36 |
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Seed |
23 |
23 |
24 |
24 |
26 |
27 |
28 |
31 |
33 |
34 |
33 |
34 |
34 |
35 |
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38 |
$38 |
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Drying and storage |
10 |
8 |
14 |
14 |
15 |
14 |
15 |
15 |
14 |
15 |
13 |
15 |
16 |
16 |
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16 |
$16 |
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Mach repair, fuel, hire |
30 |
27 |
26 |
29 |
27 |
27 |
28 |
29 |
27 |
27 |
31 |
31 |
30 |
30 |
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32 |
$32 |
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Total crop costs |
$147 |
$138 |
$142 |
$146 |
$147 |
$160 |
$171 |
$174 |
$169 |
$160 |
$162 |
$170 |
$169 |
$177 |
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$178 |
$183 |
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Revenue less crop costs |
$209 |
$174 |
$277 |
$186 |
$306 |
$143 |
$365 |
$240 |
$167 |
$205 |
$206 |
$181 |
$203 |
$252 |
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$205 |
$177 |
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Panel B. Soybeans |
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Average yield |
47 |
46 |
49 |
49 |
52 |
44 |
48 |
49 |
49 |
52 |
49 |
50 |
50 |
38 |
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49 |
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Market price |
5.86 |
5.77 |
5.69 |
5.98 |
6.48 |
5.76 |
7.16 |
7.63 |
5.09 |
4.84 |
4.70 |
4.45 |
5.22 |
7.00 |
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5.70 |
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Effective LDP1 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.46 |
0.88 |
0.94 |
1.17 |
0.00 |
0.00 |
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Total price received |
$5.86 |
$5.77 |
$5.69 |
$5.98 |
$6.48 |
$5.76 |
$7.16 |
$7.63 |
$5.55 |
$5.72 |
$5.64 |
$5.62 |
$5.22 |
$7.00 |
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Crop revenue per acre2 |
$275 |
$265 |
$279 |
$293 |
$337 |
$253 |
$344 |
$374 |
$272 |
$297 |
$276 |
$281 |
$261 |
$266 |
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279.3 |
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Crop Costs per acre |
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Fertilizer |
18 |
18 |
17 |
17 |
17 |
21 |
21 |
22 |
22 |
$19 |
$19 |
$21 |
$20 |
$22 |
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$20 |
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Pesticides |
22 |
25 |
25 |
28 |
29 |
30 |
34 |
35 |
34 |
32 |
33 |
30 |
31 |
35 |
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37 |
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Seed |
13 |
13 |
13 |
14 |
14 |
16 |
16 |
18 |
19 |
19 |
19 |
21 |
24 |
20 |
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21 |
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Drying and storage |
4 |
4 |
6 |
6 |
6 |
5 |
5 |
6 |
5 |
6 |
5 |
5 |
4 |
4 |
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6 |
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Mach repair, fuel, hire |
25 |
23 |
22 |
24 |
23 |
23 |
24 |
25 |
23 |
24 |
27 |
27 |
26 |
27 |
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33 |
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Total crop costs |
$82 |
$83 |
$83 |
$89 |
$89 |
$95 |
$100 |
$106 |
$103 |
$100 |
$103 |
$104 |
$105 |
$108 |
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$117 |
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Revenue less crop costs |
$193 |
$182 |
$196 |
$204 |
$248 |
$158 |
$244 |
$268 |
$169 |
$197 |
$173 |
$177 |
$156 |
$158 |
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$162 |
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Difference (corn -
soybeans) |
$16 |
-$8 |
$81 |
-$18 |
$58 |
-$15 |
$121 |
-$28 |
-$2 |
$8 |
$33 |
$4 |
$47 |
$94 |
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$42 |
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1Represents the average per bushel B14 receipt from Market Loan
and Loan Deficiency Payment programs in Illinois. |
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2Data are from Illinois Farm Business Farm Management. Revenue from AMTA, MLA, soybean and
deficiency payments are not included. |
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Prepared by: Gary Schnitkey and Dale Lattz, Department
of Agricultural and Consumer Economics, University of Illinois, November
2003. |
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139 |
121 |
166 |
141 |
172 |
118 |
151 |
138 |
142 |
156 |
155 |
158 |
151 |
180 |
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corn following corn |
$180 |
$145 |
$248 |
$159 |
$276 |
$115 |
$327 |
$207 |
$140 |
$178 |
$179 |
$155 |
$175 |
$225 |
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corn following beans |
$209 |
$174 |
$277 |
$186 |
$306 |
$143 |
$365 |
$240 |
$167 |
$205 |
$206 |
$181 |
$203 |
$252 |
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soybeans |
$193 |
$182 |
$196 |
$204 |
$248 |
$158 |
$244 |
$268 |
$169 |
$197 |
$173 |
$177 |
$156 |
$158 |
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1/2 corn |
$201 |
$178 |
$237 |
$195 |
$277 |
$151 |
$305 |
$254 |
$168 |
$201 |
$190 |
$179 |
$180 |
$205 |
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$208 |
$154 |
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2/3 corn |
$194 |
$167 |
$240 |
$183 |
$277 |
$139 |
$312 |
$238 |
$159 |
$193 |
$186 |
$171 |
$178 |
$212 |
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$203 |
$173 |
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