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RP, ECO, and SCO Tradeoffs

For the past several years, many farmers in the Midwest purchased Revenue Protection (RP) crop insurance at an 85% coverage level (RP-85%). Due to both higher projected prices and volatilities, RP-85% will have about double the premium costs in 2021…

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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

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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RP, ECO, and SCO Tradeoffs

For the past several years, many farmers in the Midwest purchased Revenue Protection (RP) crop insurance at an 85% coverage level (RP-85%). Due to both higher projected prices and volatilities, RP-85% will have about double the premium costs in 2021…

read more

Potential Payouts from Enhanced Coverage Option

Payments from the crop insurance add-on Enhanced Coverage Option (ECO) at different prices and yields are illustrated in this article. Since ECO coverage levels are high, ECO will make payments in many years. Given premium support involved, ECO should average…

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Using farmdoc Tools to Make the ARC-CO and PLC Decisions

Two tools are available on the farmdoc website for evaluating Commodity title choices faced by farmers.  The first is the 2018 Farm Bill What-If Tool, a Microsoft Excel spreadsheet that calculates payments under differing price and yield scenarios. The second…

read more

Higher 2021 Crop Insurance Premiums and 2021 Decisions

Crop insurance premiums for all products will likely be much higher in 2021 than in 2020 because projected prices and volatilities will be higher in 2021 compared to 2020. These higher premiums could impact crop insurance decisions, particularly at higher…

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Quality Loss Adjustment Program

Farms that suffered crop quality losses in 2018 or 2019 can apply for aid in a new disaster relief program. The Quality Loss Adjustment program was announced by the United States Department of Agriculture earlier this month and is the…

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Revised 2020 and 2021 Crop Budgets Indicate Higher Returns

Publications on farmdoc giving 2020 and 2021 returns for Illinois grain crops have been revised since their last release in October 2020. Three changes have been made: 1) corn and soybean prices for 2020 and 2021 have been increased, 2)…

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Management Articles

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RP, ECO, and SCO Tradeoffs

For the past several years, many farmers in the Midwest purchased Revenue Protection (RP) crop insurance at an 85% coverage level (RP-85%). Due to both higher projected prices and volatilities, RP-85% will have about double the premium costs in 2021…

read more

Potential Payouts from Enhanced Coverage Option

Payments from the crop insurance add-on Enhanced Coverage Option (ECO) at different prices and yields are illustrated in this article. Since ECO coverage levels are high, ECO will make payments in many years. Given premium support involved, ECO should average…

read more

Synthetic Nitrogen Fertilizer in the U.S.

We provide background on nitrogen fertilizer production in the United States, thereby aiding in understanding conservation concerns with nitrogen production. Nitrogen is the most abundant gas in the atmosphere and makes up approximately 78% of the atmosphere. One of the…

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Using farmdoc Tools to Make the ARC-CO and PLC Decisions

Two tools are available on the farmdoc website for evaluating Commodity title choices faced by farmers.  The first is the 2018 Farm Bill What-If Tool, a Microsoft Excel spreadsheet that calculates payments under differing price and yield scenarios. The second…

read more

Higher 2021 Crop Insurance Premiums and 2021 Decisions

Crop insurance premiums for all products will likely be much higher in 2021 than in 2020 because projected prices and volatilities will be higher in 2021 compared to 2020. These higher premiums could impact crop insurance decisions, particularly at higher…

read more

Long-Term Trends in Pigs per Litter

Key performance metrics for swine production include feed conversion, litters per sow per year, pigs per litter, and pounds of pork produced per sow per year.  All of these metrics have improved dramatically over time.  Improvements in production performance are…

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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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