Latest in Management
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…
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
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…
Impacts of Removal of Illinois Sales Tax Exemptions on Illinois Grain Farms
Farmers do not pay Illinois’ 6.25% sales tax on exempt agriculture inputs. We examine the impacts removing existing sales tax exemptions resulting in a 6.25% sales tax added to fertilizer, pesticides, seed, and machinery-related expenses. From 2015 to 2019, these…
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…
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…
Case for Ad Hoc Assistance in the Presence of Commodity Programs: MFP 2018
The ad hoc Market Facilitation Program (MFP) compensated farms for the estimated loss of exports due to retaliatory tariffs placed on US farm exports by other countries in response to tariffs the US imposed on their exports to the US.…
The Relationship of USDA Planted Acreage Revisions for Corn and Soybeans to Prevented Plant Acreage
Several issues related to the March 31st USDA Prospective Plantings report have been examined in recent farmdoc daily articles. These include the historically large size of the market surprise for combined corn and soybean planted acreage in last month’s report,…
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…
Cost to Produce Corn and Soybeans in Illinois—2020
In 2020, the total of all economic costs per acre for growing corn in Illinois averaged $869 in the northern section, $893 in the central section for farmland with “high” soil ratings, $850 in the central section for farmland with…
What Will Be the Capabilities and Skills Needed to Manage the Farm of the Future?
A recent farmdoc daily article discussed a number of automation and precision agriculture technologies that will be increasingly used in production agriculture. The adoption and use of these technologies will require additional expertise and skills of managers and the workforce…