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Debt Financing and Timing Farmland Purchases

Farmland returns have averaged around 10%, particularly when holding periods exceed 20 years. Even given this 10% average return, financing farmland is difficult because capital gains make up a large portion of total return. There is little reason to expect…

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Illinois Farm Management Handbook

Machinery Cost of Operations Estimates

Machinery Cost Estimates Summary

Summary of costs for Field Operations, Havest Operations, Tractor and Forage Operations.
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Field Operations

This publication shows estimated costs of performing agricultural field operations.
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Harvest Operations

This publication shows estimated costs for combining, using grain carts, and hauling grain.
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Tractor Costs

Shows estimated costs for different sized tractors
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Forage Operations

This publication shows estimated costs for owning and operating forage machinery.
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Illinois Crop Budgets and Historic Returns

2022 Budgets For All Regions

This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…

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2017 Budgets For All Regions

This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois.
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2016 Budgets For All Regions

This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois.
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2013 – 2016 Budgets For All Regions

This provides summary cost of production budgets for corn and soybeans. Results are included for all regions in Illinois.
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Cost to Produce Corn and Soybeans in Illinois

The total of all economic costs per acre for growing corn and soybeans in Illinois.
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Illinois Farmland Leasing and Rental Forms

Farmland Leasing Facts Sheets and Pricing Information

Cash Rent Leasing Fact Sheet

Facts on Cash Rent leases.
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Share Rent Leasing Fact Sheet

Facts on Crop Share leases.
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Variable Cash Rent Leasing Fact Sheet

Summary of statistical data on variable case rent leases in Illinois.
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Illinois County Average Cash Rents (NASS)

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Finance

Financial Characteritics of Illinois Farms

This report is based on data obtained from farm business records on Illinois farms. It is an annual summary of such records obtained from farmers cooperating with University of Illinois Extension, the Department of Agricultural and Consumer Economics, and the Illinois Farm Business Farm Management (FBFM) Association.
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Credit Reports and Consumer Credit Scoring

This report is based on farm income and earnings data on Illinois farms. It is an annual summary of such records obtained from farmers cooperating with University of Illinois Extension, the Department of Agricultural and Consumer Economics, and the Illinois Farm Business Farm Management (FBFM) Association.
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Whole Farm and Other Reports

Summary of Illinois Farm Business Records

This report is based on farm income and earnings data on Illinois farms. It is an annual summary of such records obtained from farmers cooperating with University of Illinois Extension, the Department of Agricultural and Consumer Economics, and the Illinois Farm Business Farm Management (FBFM) Association.
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Farm Income and Production Cost Summary

This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016.
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Farm and Family Living Income and Expenses

Summary of annual capital and noncapital family living expenditures and income and social security tax payments.
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Cost to Produce Beef in Illinois

Report with summary of cost to produce beef in Illinois.
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Cost to Produce Milk in Illinois

Report with summary of cost to produce milk in Illinois.
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Weekly Farm Economics

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Debt Financing and Timing Farmland Purchases

Farmland returns have averaged around 10%, particularly when holding periods exceed 20 years. Even given this 10% average return, financing farmland is difficult because capital gains make up a large portion of total return. There is little reason to expect…

read more

WASDE 2021 Price Projections in Historical Perspective

The Office of the Chief Economist of the U.S. Department of Agriculture recently revised 2021 market year average (MYA) price projections to $5.45 per bushel for corn and $12.90 per bushel for soybeans. For both corn and soybeans, the 2021…

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Information on 2021 Cash Rents with Implications for 2022

All public information that will be useful in making 2022 cash rents is now available. The National Agricultural Statistics Service (NASS) recently released state and county rents for 2021. In addition, the Illinois Society of Professional Farm Managers and Rural…

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Higher Wheat Crop Insurance Premiums and the 2022 Crop Insurance Decision Tool

The 2022 Crop Insurance Decision Tool is now available to quote premiums for 2022 wheat policies. In Illinois and much of the Midwest, the deadline for changing wheat policies is September 30. Wheat premiums likely will be much higher than…

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Stress Test of 2022 Crop Returns

Illinois Crop Budgets for 2022 corn and soybeans were released in July (see farmdoc Daily, July 27, 2021). Positive returns are projected for both crops given a $4.25 corn price and $12.00 soybean price, both of which are significantly above…

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Cash Rents Rise in 2021 with Implications for 2022

The U.S. Department of Agriculture released 2021 state-level cash rents. The average cash rent in Illinois was $227 per acre, a $5 increase over 2020 levels. Over time, cash rents typically follow agricultural returns in a lagged manner. Higher returns…

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Precision Conservation Management (PCM)

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Unexpectedly Lower Inventories and Steady to Lower Demand

The USDA’s September Hogs and Pigs report places the September 1 inventory of all hogs and pigs at 75.4 million head, up about 1.3% from last quarter but down 3.9% from last year and well below the pre-report expected range…

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Brazil Starts Planting Grain Crop with Forecast of a New Record

Farmers in Brazil began planting in September for what is expected to be a recording-breaking 2021-2022 harvest. The first projection from CONAB (National Supply Company in Brazil) projects farmers will produce 289.6 million tons of soybeans, corn, cotton, rice, and…

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Debt Financing and Timing Farmland Purchases

Farmland returns have averaged around 10%, particularly when holding periods exceed 20 years. Even given this 10% average return, financing farmland is difficult because capital gains make up a large portion of total return. There is little reason to expect…

read more

Comparing Machinery Values on Illinois Grain Farms

Not only has machinery values been increasing over time, so has the size of farms.  This study compares machinery values on Illinois grain farms enrolled in Illinois Farm Business Farm Management Association (FBFM) for years 2010 and 2020.  We also…

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Evaluating Impact of House Ways & Means Proposal for Tax Changes

New details for a potential $3.5 trillion spending and tax package were released by the House Ways & Means Committee on Monday September 13, 2021, including a proposal for funding new policies advanced by Democrats. This package includes proposals for…

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WASDE 2021 Price Projections in Historical Perspective

The Office of the Chief Economist of the U.S. Department of Agriculture recently revised 2021 market year average (MYA) price projections to $5.45 per bushel for corn and $12.90 per bushel for soybeans. For both corn and soybeans, the 2021…

read more

Management Articles

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Debt Financing and Timing Farmland Purchases

Farmland returns have averaged around 10%, particularly when holding periods exceed 20 years. Even given this 10% average return, financing farmland is difficult because capital gains make up a large portion of total return. There is little reason to expect…

read more

Comparing Machinery Values on Illinois Grain Farms

Not only has machinery values been increasing over time, so has the size of farms.  This study compares machinery values on Illinois grain farms enrolled in Illinois Farm Business Farm Management Association (FBFM) for years 2010 and 2020.  We also…

read more

WASDE 2021 Price Projections in Historical Perspective

The Office of the Chief Economist of the U.S. Department of Agriculture recently revised 2021 market year average (MYA) price projections to $5.45 per bushel for corn and $12.90 per bushel for soybeans. For both corn and soybeans, the 2021…

read more

Information on 2021 Cash Rents with Implications for 2022

All public information that will be useful in making 2022 cash rents is now available. The National Agricultural Statistics Service (NASS) recently released state and county rents for 2021. In addition, the Illinois Society of Professional Farm Managers and Rural…

read more

Comparisons of Net Returns for Crop Share Leases and a Fixed Cash Rent Lease

A recent farmdoc daily article (August 6, 2021) used a case farm in west central Indiana to illustrate net returns to land derived from crop share, fixed cash rent, and flexible cash lease arrangements.  This article updates net return projections…

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Higher Wheat Crop Insurance Premiums and the 2022 Crop Insurance Decision Tool

The 2022 Crop Insurance Decision Tool is now available to quote premiums for 2022 wheat policies. In Illinois and much of the Midwest, the deadline for changing wheat policies is September 30. Wheat premiums likely will be much higher than…

read more

Management Publication Archives

Farm Economics Facts & Opinions (FEFOs)

Management archives include Farm Economics Facts & Opinions (FEFO) articles. The FEFO series was published from 2000-2010. It is the predecessor to the current Weekly Farm Economics series.

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