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2011 Crop Budgets9


Step 1: Step 2:
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Corn after beans Corn after corn Soybeans Wheat
Yield per acre
Price per bu
LDP per bu1
Revenue -------------------------------------- $ per acre -----------------------------------
Crop revenue2 $837 $785 $592 $439
LDP revenue3 $0 $0 $0 $0
DP and CC payments4
Crop insurance proceeds
Gross revenue $858 $806 $613 $460
Costs -------------------------------------- $ per acre -----------------------------------
Crop insuance
Total direct costs $310 $326 $154 $166
Machine hire/lease
Machine repair
Fuel and oil
Light vehicle
Mach. depreciation
Total power costs $73.3 $111 $101 $99
Hired labor
Building repair and rent
Building depreciation
Total overhead $63 $63 $55 $55
Total non-land costs $446.3 $500 $310 $320
Operator and land return5 $411.7 $306 $303 $140
Land cost6
Operator return7
Net return8 $187.7 $82 $79 $-84

1. Represents revenue from loan deficiency and marketing loan programs.

2. Crop revenue equals yield per acre time price per bu.

3. Revenue from the loan deficiency program. LDP revenue is yield per acre times LDP per bu.

4. Includes revenue from direct and counter-cyclical programs.

5. Represents a return to pay for land and provide the operator a return.

6. Land costs are represented by a cash rent.

7. Operator return provides the farmer a return for invested equity capital and labor.

8. Positive net return indicate economic profits while negative values indicate economic loses. In equilibrium profits are expected to average zero over time.

9. The regions and counties in Illinois are classified as:

  • Northern: Boone, Bureau, Carroll, Cook, DeKalb, Dupage, Grundy, Jo Davies, Kane, Kankakee, Kendall, Lake, LaSalle, Lee, Marshall, McHenry, Ogle, Putnam, Stephenson, Whiteside, Will, Winnebago.
  • Central: Adams, Brown, Calhoun, Cass, Champaign, Christian, Clark, Coles, DeWitt, Douglas, Edgar, Ford, Fulton, Greene, Hancock, Henderson, Henry, Iroquois, Jersey, Knox, Livingston, Logan, Macon, Macoupin, Mason, McDonough, McLean, Menard, Mercer, Montogomery, Morgan, Moultrie, Peoria, Piatt, Pike, Rock Island, Sangamon, Schuyler, Scott, Shelby, Stark, Tazwell, Vermillion, Warren, Woodford.
  • Southern: Alexander, Bond, Clay, Clinton, Crawford, Cumberland, Edwards, Effingham, Fayette, Franklin, Gallatin, Hamilton, Hardin, Jackson, Jasper, Jefferson, Johnson, Lawrence, Madison, Marion, Massac, Monroe, Perry, Pope, Pulaski, Randolph, Richland, Saline, St. Clair, Union, Wabash, Washington, Wayne, White, Williamson.

Department of Agricultural and Consumer Economics    College of Agricultural, Consumer and Environmental Sciences
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