Revenue and variable costs associated with producing corn and soybeans in Illinois for the years between 1997 through 2001 have been updated for northern, central (high productivity farmland), central (low productivity farmland), and southern Illinois using data from farms enrolled in the Illinois Farm Business Farm Management (FBFM) Association. In addition, projected revenue and variable costs for 2002 are shown. There are four tables showing these budgets at the end of this report. Tables also are available in the management section of farmdoc (http://www.farmdoc.uiuc.edu/manage/enterprise_cost/crop_revenue_less_variable_cost.html). Highlights of the updates are presented below.