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Lower, Highly Variable Incomes Projected for 2002

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The November, 2002 Illinois Agricultural Statistical Service (IASS) yield estimates for Illinois (see indicated state average corn, soybean and wheat yields will be lower for 2002 compared to 2001. However, yields varied considerably between the different Crop Reporting Districts (CRD) in the state. These yields, a $2.40 corn price, a $5.60 soybean price, significantly lower government farm program payments and slight adjustments in operating expenses are used to project 2002 net farm incomes for 993 Illinois grain farms. The farms used in the study come from a sample of grain farms enrolled in the Illinois Farm Business Farm Management (FBFM) Association.

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