Latest in Management
An Overview of Meat Consumption in the United States
Livestock feed is a significant use of both corn and soybeans. Forty percent of the domestic corn crop and over 60% of domestic soybean production are used as livestock feed (April 2021 USDA WASDE). Animal agriculture is obviously important to…
Machinery Cost of Operations Estimates
Machinery Cost Estimates Summary
Field Operations
Harvest Operations
Forage Operations
Illinois Crop Budgets and Historic Returns
Revenue and Costs for Illinois Grain Crops
Shows historical cost for the last 5 years and projections for next year. Table gives results for corn, soybeans, wheat,…
2021 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
2020 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
2019 Budgets For All Regions
2018 Budgets For All Regions
2017 Budgets For All Regions
2016 Budgets For All Regions
2013 – 2016 Budgets For All Regions
Cost to Produce Corn and Soybeans in Illinois
Illinois Farmland Leasing and Rental Forms
Crop Share Lease Form – PDF
Livestock Share Lease Form – PDF
Fixed Cash Rent Lease Form – Short Form – PDF
Pasture Lease Form – PDF
Illinois Cash Farm Lease Form – PDF
The lease form represents a basic model for an agricultural lease. The parties to the lease or their legal counsel…
Conservation Habitat Addendum – PDF
Nutrient Management Addendum – PDF
Soil Health and Conservation Addendum – PDF
October 31 is “Notice” Deadline for Many Farm Leases
Farmland Leasing Facts Sheets and Pricing Information
Variable Cash Rent Leasing Fact Sheet
Index Numbers of Illinois Farmland Values
Finance
Financial Characteritics of Illinois Farms
Credit Reports and Consumer Credit Scoring
Whole Farm and Other Reports
Summary of Illinois Farm Business Records
Farm Income and Production Cost Summary
Farm and Family Living Income and Expenses
Cost to Produce Beef in Illinois
Cost to Produce Milk in Illinois
Chances of Lower Harvest Time Prices on Corn and Soybeans Futures Contracts in 2021
Prices on 2021 harvest-time futures contracts are above $6.00 per bushel for corn and $14.00 per bushel for soybeans, well above most prices since 2013. Some farmers express concerns about price declines. We use a farmdoc web-based tool to arrive…
Crop Insurance Coverage Levels and ECO Use on Corn
Enhanced Coverage Option (ECO) became available as an add-on to a farm-level crop insurance product in 2021. While available for other plans, we focus on Revenue Protection (RP) in this article. Farmers who purchase Revenue Protection (RP) now have the…
Recent State Soybean and Corn Yields in Illinois
For 2020, the state of Illinois had an average soybean yield of 60 bushels per acre and an average corn yield of 192 bushels per acre. Illinois’ exceptional soybean and corn yields since the 2012 drought have caused large increases…
Fertilizer Price Increases for 2021 Production
Fertilizer prices have increased since fall 2020. These price increases lead to rising fertilizer costs for farms, with the timing of fertilizer purchases impacting the level of fertilizer costs associated with 2021 production. Overall, fertilizer cost increases are larger for…
What Questions Should Farmers Ask about Selling Carbon Credits?
Agricultural carbon markets exist through privately and publicly owned companies with aim to reduce carbon emissions through trade of carbon units sequestered at the farm level. The sale of carbon credits presents an opportunity for farmers to receive financial benefits…
Tax on Farm Estates and Inherited Gains
The U.S. Congress is debating two sets of new legislation that would impact the tax on farmer estates and inherited gains, indicative of the momentum for changes to the current code for estate, gifts, and generation skipping taxes. Both pieces…
The Evolving US Cotton Safety Net
Cotton is an economically and politically important farm safety net commodity (Coppess). Following its program is thus important to understanding the forces and issues impacting the US farm safety net (see, for example, the farmdoc daily articles of April 13,…
An Overview of Meat Consumption in the United States
Livestock feed is a significant use of both corn and soybeans. Forty percent of the domestic corn crop and over 60% of domestic soybean production are used as livestock feed (April 2021 USDA WASDE). Animal agriculture is obviously important to…
Chances of Lower Harvest Time Prices on Corn and Soybeans Futures Contracts in 2021
Prices on 2021 harvest-time futures contracts are above $6.00 per bushel for corn and $14.00 per bushel for soybeans, well above most prices since 2013. Some farmers express concerns about price declines. We use a farmdoc web-based tool to arrive…
Impact of Higher Corn Prices on Feeding Cost of Gain for Cattle Finishing
Corn price futures for the July 2021 contract (December 2021 contract) increased from $4.68 per bushel ($4.31 per bushel) in early January to $6.56 ($5.57) for the week ending April 30. Moreover, using the iFarm Price Distribution Tool there was…
Supplemental Area Insurance and Basis Risk Measures: Part II
Yesterday, we examined the likelihood that payments from crop insurance policy combinations utilizing SCO and ECO would under-compensate farm-level losses compared to using a higher level RP policy, also referred to as “false-negatives”. Today, we examine the likelihood that policy…
Supplemental Area Insurance and Basis Risk Measures: Part I
The Enhanced Coverage Option (ECO) is a new supplemental insurance program introduced this year, providing county coverage from 90% or 95% coverage level down to 86%. The Supplemental Coverage Option (SCO) is another county-based policy that can be used, with…
An Overview of Meat Consumption in the United States
Livestock feed is a significant use of both corn and soybeans. Forty percent of the domestic corn crop and over 60% of domestic soybean production are used as livestock feed (April 2021 USDA WASDE). Animal agriculture is obviously important to…
Chances of Lower Harvest Time Prices on Corn and Soybeans Futures Contracts in 2021
Prices on 2021 harvest-time futures contracts are above $6.00 per bushel for corn and $14.00 per bushel for soybeans, well above most prices since 2013. Some farmers express concerns about price declines. We use a farmdoc web-based tool to arrive…
Impact of Higher Corn Prices on Feeding Cost of Gain for Cattle Finishing
Corn price futures for the July 2021 contract (December 2021 contract) increased from $4.68 per bushel ($4.31 per bushel) in early January to $6.56 ($5.57) for the week ending April 30. Moreover, using the iFarm Price Distribution Tool there was…
Crop Insurance Coverage Levels and ECO Use on Corn
Enhanced Coverage Option (ECO) became available as an add-on to a farm-level crop insurance product in 2021. While available for other plans, we focus on Revenue Protection (RP) in this article. Farmers who purchase Revenue Protection (RP) now have the…
Recent State Soybean and Corn Yields in Illinois
For 2020, the state of Illinois had an average soybean yield of 60 bushels per acre and an average corn yield of 192 bushels per acre. Illinois’ exceptional soybean and corn yields since the 2012 drought have caused large increases…
Fertilizer Price Increases for 2021 Production
Fertilizer prices have increased since fall 2020. These price increases lead to rising fertilizer costs for farms, with the timing of fertilizer purchases impacting the level of fertilizer costs associated with 2021 production. Overall, fertilizer cost increases are larger for…