Crop Revenue Less Crop Costs, Corn and Soybeans, Southern Illinois, Illinois
Farm Business Farm Management, 1990 -- 2003.
                               
Year
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003F $110 $98
                               
Panel A. Corn
Average yield 112 95 152 131 132 107 115 111 121 115 149 151 97 128 128 118
   Market price 2.43 2.42 2.35 2.23 2.53 2.40 3.51 2.86 2.12 2.04 2.01 2.00 2.33 2.25 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 $2.43 $2.42 $2.35 $2.23 $2.53 $2.40 $3.51 $2.86 $2.23 $2.27 $2.27 $2.14 $2.33 $2.25
Crop revenue per acre2 $272 $230 $357 $292 $334 $257 $404 $317 $270 $261 $338 $323 $226 $288 288 265.5
Crop Costs per acre
Fertilizer 49 50 51 52 54 61 62 63 59 $54 $56 $61 $54 $62 $56 $56
Pesticides 22 20 22 25 25 32 34 31 32 30 30 32 31 33 36 $36
Seed 21 19 21 21 22 26 29 30 31 32 33 35 35 35 38 $38
Drying and storage 7 2 5 6 5 7 9 7 8 7 6 7 6 10 16 $16
Mach repair, fuel, hire 34 29 30 35 32 33 35 33 32 31 37 39 35 35 39 $39
Total crop costs $147 $138 $142 $146 $147 $160 $171 $174 $162 $154 $162 $174 $161 $175 $185 $190
Revenue less crop costs $125 $92 $215 $146 $187 $97 $233 $143 $108 $107 $176 $149 $65 $113 $103 $76
Panel B. Soybeans
Average yield 35 37 44 41 43 36 38 42 39 37 45 45 34 42 41
   Market price 5.92 5.78 5.64 5.98 6.32 5.76 7.28 7.65 5.09 4.87 4.75 4.50 5.25 7.00 5.70
   Effective LDP1 0.46 0.88 0.94 1.17 0.00 0.00
Total price received $5.92 $5.78 $5.64 $5.98 $6.32 $5.76 $7.28 $7.65 $5.55 $5.75 $5.69 $5.67 $5.25 $7.00
Crop revenue per acre2 $207 $214 $248 $245 $272 $207 $277 $321 $216 $213 $256 $255 $179 $294 233.7
Crop Costs per acre
Fertilizer 17 17 17 18 19 21 22 23 21 $20 $21 $23 $20 $24 $20
Pesticides 24 22 23 27 28 35 36 33 33 30 30 28 27 32 37
Seed 14 12 14 14 14 16 18 19 18 20 20 21 23 22 21
Drying and storage 3 1 2 2 2 3 3 3 3 3 3 3 2 5 6
Mach repair, fuel, hire 30 26 26 30 28 29 31 29 28 28 32 35 31 31 33
Total crop costs $88 $78 $82 $91 $91 $104 $110 $107 $103 $101 $106 $110 $103 $114 $117
Revenue less crop costs $119 $136 $166 $154 $181 $103 $167 $214 $113 $112 $150 $145 $76 $180 $117
Difference (corn - soybeans) $6 -$44 $49 -$8 $6 -$6 $66 -$71 -$5 -$5 $26 $4 -$11 -$67 -$14
                               
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.
102 85 142 121 122 97 105 101 111 105 139 141 87 118
corn following corn $96 $63 $187 $119 $157 $68 $193 $110 $81 $79 $149 $123 $37 $86
corn following beans $125 $92 $215 $146 $187 $97 $233 $143 $108 $107 $176 $149 $65 $113
soybeans $119 $136 $166 $154 $181 $103 $167 $214 $113 $112 $150 $145 $76 $180
1/2 corn $122 $114 $191 $150 $184 $100 $200 $179 $111 $110 $163 $147 $71 $147 $142 $130
2/3 corn $113 $97 $189 $140 $175 $89 $198 $156 $101 $99 $158 $139 $59 $126 $131 $138