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