For 2022, planting decisions relative to corn and soybeans are likely more complicated than usual due to rising production costs and uncertainties about commodity and fertilizer prices. Higher priced nitrogen fertilizer, used more heavily on corn acres, will require corn…

In 2020, the total noncapital living expenses of 1,088 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $76,672–or about $6,400 a month for each family (Figure 1). This average was about 2.8 percent lower than…

Machinery cost estimates for 2021 have been released and are available on the farmdoc website (see Management section of farmdoc). Machinery costs are updated every two years, with the last update occurring in 2019. Substantial increases in list prices of…

Average net farm income on Illinois grains farms was above-average in 2020 primarily because of two factors: 1) higher corn and soybean prices in the second half of 2020, and 2) Federal aid through the Coronavirus Food Assistance Program (CFAP)…

In response to market disruptions and economic harm caused by the Coronavirus (COVID-19) pandemic, the U.S. federal government initiated a series of relief programs for U.S. consumers and businesses, including farmers and ranchers. Of these programs, the two rounds of…

Due to continued increases in demand for certified organic grains, crop farmers that have transitioned from conventional to certified organic grains report higher net returns per acre (McBride et al., 2015; Greene et al., 2017; Langemeier et al., 2020; Center…

On Wednesday, the Federal Reserve Board released its October 2021 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.

Bloomberg writer Ailing Tan reported this week that, “China’s goods imports from the U.S. have only reached about 53% of the $200 billion worth of additional products and services it promised to buy under the trade deal signed last year,…

Bloomberg writers Brendan Case, Leslie Patton, and Kim Chipman reported this week that, “In Denver, public-school children are facing shortages of milk. In Chicago, a local market is running short of canned goods and boxed items.”

Bloomberg News reported this week that, “Chinese authorities are imposing new hurdles for fertilizer exporters amid growing concerns over surging power prices and food production, a move that could worsen a global price shock and food inflation.”

Reuters writer Dominique Patton reported this week that, “China’s third-quarter pork production surged to its highest in three years, official data showed on Monday, after producers built thousands of large breeding farms last year to rebuild a hog herd decimated…

Reuters writers Hallie Gu and Gavin Maguire reported late last week that, “For the first time in a year, corn prices in China’s key Shandong hub this week have fallen to the same levels as wheat, leading some feed producers…