2011 Return Projections Suggest Corn Will be More Profitable than Soybeans
Currently, budgeting for the 2011 crop year indicates that corn will be much more profitable than soybeans.
Farmland Price Outlook: Are Farmland Prices Too High Relative to Returns and Interest Rates
Farmland prices are likely to increase over the next year due to higher commodity prices. The possibility of interest rate increases poses a risk for declining farmland prices.
2008 SURE Window Closes September 30
SURE program deadline is approaching for the 2008 year. Most Illinois farms will not receive payments, but those that do may receive large SURE payments.
COMBOs Product Released for 2011 Crop Insurance Year
The COMBO product is being released to insure 2011 crops. Revenue Protection, Yield Protection, and Revenue Protection with Exclusion plans in the COMBO policy replace CRC, RA, IP, and APH policies.
2011 Crop Budgets: Implications for Crop Rotations and Returns
First estimates of 2011 returns for Illinois crops are provided in this report. Current projections suggest that 2011 returns will be below 2007 and 2008 levels, but above those for 2009.
Illinois Farm Real Estate Values Continue on Upward Trend
Each year the National Agricultural Statistics Service of the USDA releases estimated average farm real estate values and cash rents by state.
Power Costs Increased on Grain Farms
Power costs on Illinois grain farms have increased over the last five years. In 2005, power costs averaged $68 per acre for grain farms located in northern and central Illinois who were enrolled in Illinois Farm Business Farm Management (FBFM).
Working Field Days in Illinois
Evaluation of working day data from 1980 through 2009 indicates that there is about a 50% chance that any day in April or May will be suitable for field work. Significantly fewer days were available during 2009 than indicated by…
Revised Corn and Soybean Budgets for 2009 and 2010
Non-land costs in 2010 are projected to be below the record high non-land costs of 2009. Projected 2010 returns are below 2007 and 2009 levels and are near 2000 through 2003 levels.
Estimated 2009 and 2010 ACRE Payments
For 2009, state ACRE payments in Illinois are estimated at $27 per acre for corn, $0 for soybeans, and $90 for wheat. For 2010, state ACRE payments are estimated at $41 per acre for corn, $14 for soybeans, and $33…
Lower Crop Returns and Higher Costs Lead to Lower Farm Earnings in 2009
Based on Illinois Farm Business Farm Management Association (FBFM) records that have been recently summarized, average farm operator returns for labor and management on 2,624 Illinois farms was lower for all geographic areas in the state in 2009 compared to…
County Cash Rents in 2009
The National Agricultural Statistical Service (NASS) recently released their estimates of average cash rents per county for 2009. Forty-one percent of the counties had cash rent increases while 37% had decreases.
Illinois Corn and Soybean Yields and GRIP Payments in 2009
Corn yields in 2010 were generally above trend, except for some counties in northern Illinois. Soybeans yields were mixed. GRIP payments for corn will occur in six counties. Soybean GRIP payments will occur in Jasper County.
Changes in Crop Acres Since Freedom to Farm
From 1990-1994 to 2005-2009, soybeans and corn grew in acres. Crops losing acres were wheat, barley, grain sorghum, corn silage, cotton, peanuts, dry edible beans, and potatoes. Corn and soybean acre increases were predominately located in the great plains and…
GRIP Premiums in 2010
Group Risk Income Plan (GRIP) is a county revenue product that bases guarantees and payments on county yields rather than on farm yields. Premiums on GRIP products have changed between 2009 and 2010, with most counties experiencing premium declines. Premiums…
2010 Crop Insurance Update: Model Programs and Common Questions
Most Illinois and Midwest farmers will find crop insurance choice coming down to one of the following two programs: Crop Revenue Coverage (CRC) or Revenue Assurance with the harvest price option (RA-HP); Group Risk Income Plan with the harvest revenue…
Fertilizer Prices in 2008, 2009, and 2010
Fertilizer costs for corn in 2010 likely will average $100 per acre for corn on high-productivity farmland in Illinois. These costs will be below 2009 costs. These fertilizer costs are based on fertilizer prices reported in a new report listing…
Yield Increases on Illinois Crops: Questions for the Future
Over time, yields on crops grown in Illinois have increased due to technological advances. In this article, growth rates are examined for the four crops with the largest number of acres in Illinois: corn, soybeans, wheat, and alfalfa.
ACRE Payment Estimates: Release of FAST ACRE Payment Estimator
A new Microsoft Excel spreadsheet has been developed to estimate the amount of Average Crop Revenue Election (ACRE) payments a farm will receive for the 2009 crop.
Profit Margins Turn Negative in 2008, Likely to Continue with Projected Low Milk Prices in 2009
Higher milk prices were not enough to offset higher costs resulting in total economic costs exceeding returns for Illinois dairy producers in 2008, according to figures summarized by University of Illinois agricultural economists in cooperation with the Illinois Farm Business…