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Weather and the 2020 Illinois Corn and Soybean Crops

What a difference July rainfall makes. The U.S. Drought Map based on data through July 28 showed that only six percent of Illinois was rated as abnormally dry or with moderate drought, down from nearly 19 percent two weeks earlier.…

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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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Release of 2021 Crop Budgets

Planning for the 2021 crop will begin soon with the determination of 2021 cash rents, selection of 2021 seed hybrids and varieties, application of fertilizers and commencement of fall tillage. To aid with these decisions, Illinois Crop Budgets for 2021…

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Crop Insurance Performance in 2019

Late and prevented planting were prevalent across the Midwest in 2019. Prevented planting payments made up about one-third of total crop insurance payments, and those counties with large amounts of prevented plantings also had higher insurance payments than counties with…

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2021 Budgeting Using $3.40 Corn and $8.50 Soybean Prices

Corn and soybean budgets for 2021 are shown using prices of $3.40 per bushel for corn and $8.50 per bushel for soybeans. Without additional Federal aid, these prices would result in low returns, perhaps lower than will occur in 2020.…

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Illinois Grain Farm Incomes in 2020

We project net incomes for a typical Illinois grain farm in 2020. Before the onset of COVID-19, 2020 net incomes were expected to be low without a turnaround in exports, likely resulting in pressures to continue Market Facilitation Program (MFP)…

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Prevented Plant Impacts on 2019 Illinois Grain Farms Incomes

In 2019, many farmers in Illinois had prevented plant (PP) acres, acres that couldn’t be planted due to excessive moisture throughout the planting season. Previous analyses indicated that taking PP was an economically better alternative than planting. Even given its…

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Declines in 2020 Corn and Soybeans Harvest-time Futures Contracts in Perspective

On June 29, the settlement prices were $3.35 per bushel for the December corn contract on the Chicago Mercantile Exchange (CME) and $8.61 per bushel on the November CME soybean contract.  These settlement prices suggest harvest-time prices near mid-2000 levels,…

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Management Articles

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Weather and the 2020 Illinois Corn and Soybean Crops

What a difference July rainfall makes. The U.S. Drought Map based on data through July 28 showed that only six percent of Illinois was rated as abnormally dry or with moderate drought, down from nearly 19 percent two weeks earlier.…

read more

Release of 2021 Crop Budgets

Planning for the 2021 crop will begin soon with the determination of 2021 cash rents, selection of 2021 seed hybrids and varieties, application of fertilizers and commencement of fall tillage. To aid with these decisions, Illinois Crop Budgets for 2021…

read more

Crop Insurance Performance in 2019

Late and prevented planting were prevalent across the Midwest in 2019. Prevented planting payments made up about one-third of total crop insurance payments, and those counties with large amounts of prevented plantings also had higher insurance payments than counties with…

read more

The Food-Energy-Water Nexus and Emerging Agricultural Technologies

The world population is expected to reach 9.7 billion by 2050 (United Nations 2019), resulting in grand demand for food, energy, and water (FEW) to sustain human life and well-being. As the leading food producing country in the world, the…

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The US Safety Net, Crop Profitability, and a Floor on Cost of Production

Since 1980, the US crop safety net has been countercyclical to aggregate net return for the 9 crops that USDA (US Department of Agriculture) reports cost of production (hereafter, COP). Payments have risen (declined) as aggregate market return fell below…

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2021 Budgeting Using $3.40 Corn and $8.50 Soybean Prices

Corn and soybean budgets for 2021 are shown using prices of $3.40 per bushel for corn and $8.50 per bushel for soybeans. Without additional Federal aid, these prices would result in low returns, perhaps lower than will occur in 2020.…

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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