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Revised 2021 Crop Budgets Lead to Higher 2021 Return Projections

The 2021 Crop Budgets have been revised from the original August release. Corn and soybean prices have been increased in revised budgets, leading to higher corn and soybean return projections for 2021. In most years, soybeans have been more profitable…

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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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Revised 2021 Crop Budgets Lead to Higher 2021 Return Projections

The 2021 Crop Budgets have been revised from the original August release. Corn and soybean prices have been increased in revised budgets, leading to higher corn and soybean return projections for 2021. In most years, soybeans have been more profitable…

read more

Understanding FSA Yields Used to Calculate 2019 ARC-CO Payments

The Farm Service Agency (FSA) released 2019 county yields used in calculating 2019 Agricultural Risk Coverage at the county level (ARC-CO) payments. The primary data source for calculating FSA yields is now crop insurance data from the Risk Management Agency…

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Acreage Shifts in Illinois

Acreage decisions in Illinois are coming into focus for the 2021 planting year. Corn, soybeans, and wheat are the predominant crops in Illinois. Historic acreages in Illinois suggests that an increase in soybean acres will come with a reduction in…

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Corn and Soybean Price Changes and Relative Profitability

Corn and soybean prices declined throughout much of the first half of 2020, with low prices persisting into early August. Since August, both corn and soybean prices have increased. Overall, commodity price movements have increased the relative profitability of soybeans…

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Corn and Soybean Yield in 2020

We compared projected state yields made available in the September Crop Production report to trend yields estimated with forty years of historical data. State corn yields are projected to be above-trend for most Midwest states in the Corn Belt, except…

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Brightened 2020 Income Outlook for Illinois Grain Farms

In the past month, much has changed in outlook for grain farm income. The U.S. Department of Agriculture (USDA) is projecting relatively high yields for corn and soybean in Illinois. Moreover, price expectations have increased considerably. In addition, payments for…

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Management Articles

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Revised 2021 Crop Budgets Lead to Higher 2021 Return Projections

The 2021 Crop Budgets have been revised from the original August release. Corn and soybean prices have been increased in revised budgets, leading to higher corn and soybean return projections for 2021. In most years, soybeans have been more profitable…

read more

Tillage Benchmarks for Corn in Illinois

Machinery costs, including tillage, make up a significant portion of the farm budget. Tillage practices in Illinois are diverse and have changed over time as new technologies have become available. Although a recent farmdoc daily article (September 22, 2020) suggests…

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Understanding FSA Yields Used to Calculate 2019 ARC-CO Payments

The Farm Service Agency (FSA) released 2019 county yields used in calculating 2019 Agricultural Risk Coverage at the county level (ARC-CO) payments. The primary data source for calculating FSA yields is now crop insurance data from the Risk Management Agency…

read more

When Creating 2021 Budgets, Keep In Mind Family Living Costs

In 2019, the total noncapital living expenses of 1,257 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $78,894–or about $6,600 a month for each family (Figure 1). This average was about 1.1 percent higher than…

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Acreage Shifts in Illinois

Acreage decisions in Illinois are coming into focus for the 2021 planting year. Corn, soybeans, and wheat are the predominant crops in Illinois. Historic acreages in Illinois suggests that an increase in soybean acres will come with a reduction in…

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Cattle Finishing Net Returns in 2020

This year has exhibited wide swings in commodity prices, drastically changing net return prospects.  Earlier papers examined net return prospects in early January and early May. This article provides updated feeding cost of gain, breakeven prices, and net return estimates…

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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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