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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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Nitrogen Fertilizer Strategies for 2022

Nitrogen fertilizer prices continue to surge, leading to difficult decisions for farmers. Herein, we discuss some strategies for dealing with higher nitrogen fertilizer prices. All these strategies carry risks. Therefore, a number of these strategies have suggestions for mitigating risks.…

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Will the Cost to Produce Corn Decrease after 2022?

Consumer costs in the U.S. have been increasing in a widespread incidence of inflation. Consistent with rising costs across many industries, the cost of producing corn will also increase in 2022. Although currently in a period of increasing costs, decreases…

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Long-Term Corn and Soybean Use with Implications for Planting Decisions in 2022 and Beyond

Since the mid-1990s, the use of soybeans produced in the U.S. has grown more than corn use, primarily because soybean exports have been a resilient source of growth. Higher growth in soybean use has led to higher relative soybean prices…

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Planting and Acreage Decisions in 2022

Compared to 2021, fertilizer costs in 2022 will be about $100 per acre higher for corn and $50 higher for soybeans. Even given the large increase in corn fertilizer costs, corn is projected to be more profitable than soybeans at…

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Management Decisions Relative to High Nitrogen Fertilizer Prices

Nitrogen fertilizer prices continue to rise. The average anhydrous ammonia price now is over $1,100 per ton, having increased over $278 per ton in the last two weeks. Overall, these large price increases indicate that 2022 nitrogen application rates should…

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2022 Planting Decisions, Nitrogen Fertilizer Prices, and Corn and Soybean Prices

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…

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Precision Conservation Management (PCM)

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Prospects for Swine Feed Costs in 2022

Corn prices and soybean prices were very volatile in 2021.  The average corn price in Indiana was $4.32 per bushel in January, increased to $6.32 in June, and will likely be around $5.50 at the end of the year.  Average…

read more

Nitrogen Fertilizer Strategies for 2022

Nitrogen fertilizer prices continue to surge, leading to difficult decisions for farmers. Herein, we discuss some strategies for dealing with higher nitrogen fertilizer prices. All these strategies carry risks. Therefore, a number of these strategies have suggestions for mitigating risks.…

read more

Will the Cost to Produce Corn Decrease after 2022?

Consumer costs in the U.S. have been increasing in a widespread incidence of inflation. Consistent with rising costs across many industries, the cost of producing corn will also increase in 2022. Although currently in a period of increasing costs, decreases…

read more

US Dairy Market and Policy Overview

The marked changes in US dairy markets and policy during the late 20th and early 21st centuries are discussed.  Correlation analysis suggests current dairy policy provides less protection against declines in net return for the smallest dairy farms.  This finding…

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Feeder Cattle Production – Are there differences based on the weight purchased?

To help answer the question regarding the differences based on the weight purchased in feeder cattle production, we will look at feeder cattle operations enrolled in Illinois Farm Business Farm Management (FBFM) over a twenty-year period (2001 to 2020).  As…

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2022 Grain Farm Income Projections Negatively Impacted by Fertilizer Cost Increases

Projected 2022 net incomes on Illinois grain farms are below 2020 and 2021 levels and approaching averages between 2013 and 2019. Rising costs and cash rents lead to these lower incomes, with increasing fertilizer costs having a significant negative impact.…

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Management Articles

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Prospects for Swine Feed Costs in 2022

Corn prices and soybean prices were very volatile in 2021.  The average corn price in Indiana was $4.32 per bushel in January, increased to $6.32 in June, and will likely be around $5.50 at the end of the year.  Average…

read more

Nitrogen Fertilizer Strategies for 2022

Nitrogen fertilizer prices continue to surge, leading to difficult decisions for farmers. Herein, we discuss some strategies for dealing with higher nitrogen fertilizer prices. All these strategies carry risks. Therefore, a number of these strategies have suggestions for mitigating risks.…

read more

Will the Cost to Produce Corn Decrease after 2022?

Consumer costs in the U.S. have been increasing in a widespread incidence of inflation. Consistent with rising costs across many industries, the cost of producing corn will also increase in 2022. Although currently in a period of increasing costs, decreases…

read more

Feeder Cattle Production – Are there differences based on the weight purchased?

To help answer the question regarding the differences based on the weight purchased in feeder cattle production, we will look at feeder cattle operations enrolled in Illinois Farm Business Farm Management (FBFM) over a twenty-year period (2001 to 2020).  As…

read more

2022 Grain Farm Income Projections Negatively Impacted by Fertilizer Cost Increases

Projected 2022 net incomes on Illinois grain farms are below 2020 and 2021 levels and approaching averages between 2013 and 2019. Rising costs and cash rents lead to these lower incomes, with increasing fertilizer costs having a significant negative impact.…

read more

Long-Term Corn and Soybean Use with Implications for Planting Decisions in 2022 and Beyond

Since the mid-1990s, the use of soybeans produced in the U.S. has grown more than corn use, primarily because soybean exports have been a resilient source of growth. Higher growth in soybean use has led to higher relative soybean prices…

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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