Table 1. Yields and Crop Revenue Less Variable Costs, Northern Illinois,
Illinois Farm Business Farm Management, 1990 -- 2003 Actual and 2004 Forecast.
                             
 
  Crop Revenue less Variable Costs3
Yields   1/2 Corn 2/3 Corn
Year Corn1 Soybeans1 Wheat2   Corn4 Soybeans4 Wheat5 1/2 Beans6 1/3 Beans7
                             
   
  ------- (bu. per acre) ---------       ---------- ($ per acre) --------          --- ($ per acre) ---
1990 135 47 59   $178 $199 $98 $189 $175
1991 107 40 42   118 152 48 135 120
1992 152 47 42   212 186 77 199 194
1993 128 47 38   134 198 44 166 146
1994 177 53 65   285 246 134 266 262
1995 127 45 67   144 164 192 154 141
1996 148 42 40   337 201 91 269 278
1997 142 50 61   217 276 117 247 226
1998 164 53 60   186 180 75 183 175
1999 155 50 69   174 182 101 178 168
2000 156 46 62   182 156 77 169 164
2001 159 48 72   158 161 122 160 150
2002 156 50 65   190 153 124 172 168
2003P8 167 37 72   193 147 165 170 168
   
Average 148 47 58   $193 $186 $105 $190 $181
Range9 70 16 34   $219 $129 $148 $134 $158
                             
   
2004F10 160 49 68   $175 $162 $141 $169 $162
                             
1 Data from grain farms enrolled in Illinois Farm Business Farm Management (FBFM).
2 Data from National Agricultural Statistical Service, U.S. Department of Agriculture
3 Crop revenue equals yield times (actual price plus loan deficiency payments).  Crop costs include fertilizer; seed; pesticides; drying and 
  storage; machinery repairs, fuel, and hire.  
4 Data taken from Illinois Farm Business Farm Management.  A spreadsheet with data is available at
   www.farmdoc.uiuc.edu/manage/newsletters/fefo03)19/fefo03_19.html.
5 Constructed from University of Illinois budgets.
6 Equals average of corn crop revenue less crop costs for corn and soybeans.
7 Equals average returns from corn following soybeans, corn following corn, and soybeans.  Corn following soybean series equals the 
  "corn" series in the fifth column.  A corn following corn series was constructed by adjusting the "corn" series in column five.  Adjustments
  were (1) corn yields were adjusted down by 10 bu. and costs increased by $5 per acre.
8 Preliminary numbers.
9 Range equals high value minus low value.
10 Forecast based on a $2.25 corn price, a $5.70 soybean price, and a $3.20 wheat price.  More detailed forecasts are provided at
    http://www.farmdoc.uiuc.edu/manage/enterprise_cost/crop_revenue_less_variable_cost.html