Crop Revenue Less Crop Costs, Corn and Soybeans, Northern Illinois, Illinois
Farm Business Farm Management, 1990 -- 2003.
                               
Year
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003F $169 $162
                               
Panel A. Corn
Average yield 135 107 152 128 177 127 148 142 164 155 156 159 156 167 160 150
   Market price 2.41 2.39 2.33 2.19 2.44 2.39 3.43 2.75 2.09 1.95 1.97 1.95 2.30 2.25 2.25 2.25
   Effective LDP1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.23 0.26 0.14 0.00 0.00
Total price received $2.41 $2.39 $2.33 $2.19 $2.44 $2.39 $3.43 $2.75 $2.20 $2.18 $2.23 $2.09 $2.30 $2.25
Crop revenue per acre2 $325 $256 $354 $280 $432 $304 $508 $391 $361 $338 $348 $332 $359 $376 360 337.5
Crop Costs per acre
Fertilizer $53 $53 $47 $48 $50 $56 $57 $57 $56 $49 $49 $56 $51 $60 $56 $56
Pesticides 26 25 25 27 29 31 35 36 35 32 31 33 34 34 36 $36
Seed 25 25 26 26 26 28 29 32 35 35 35 34 35 37 38 $38
Drying and storage 10 7 16 13 12 11 14 13 15 13 12 14 14 14 16 $16
Mach repair, fuel, hire 33 28 28 32 30 34 36 36 34 35 39 37 35 38 39 $39
Total crop costs $147 $138 $142 $146 $147 $160 $171 $174 $175 $164 $166 $174 $169 $183 $185 $190
Revenue less crop costs $178 $118 $212 $134 $285 $144 $337 $217 $186 $174 $182 $158 $190 $193 $175 $148
Panel B. Soybeans
Average yield 47 40 47 47 53 45 42 50 53 50 46 48 50 37 49
   Market price 5.99 5.79 5.70 6.06 6.32 5.79 7.29 7.65 4.96 4.82 4.67 4.40 5.20 7.00 5.70
   Effective LDP1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.46 0.88 0.94 1.17 0.00 0.00
Total price received $5.99 $5.79 $5.70 $6.06 $6.32 $5.79 $7.29 $7.65 $5.42 $5.70 $5.61 $5.57 $5.20 $7.00
Crop revenue per acre2 $282 $232 $268 $285 $335 $261 $306 $383 $287 $285 $258 $267 $260 $259 279.3
Crop Costs per acre
Fertilizer $17 $17 $15 $15 $16 $19 $20 $20 $21 $18 $18 $20 $18 $20 $20
Pesticides 24 26 26 28 31 32 36 37 36 33 32 29 30 35 37
Seed 12 13 13 13 13 14 15 16 18 18 18 20 24 20 21
Drying and storage 4 2 6 5 4 4 4 4 3 5 5 6 5 5 6
Mach repair, fuel, hire 26 22 22 26 25 28 30 30 29 29 29 31 30 32 33
Total crop costs $83 $80 $82 $87 $89 $97 $105 $107 $107 $103 $102 $106 $107 $112 $117
Revenue less crop costs $199 $152 $186 $198 $246 $164 $201 $276 $180 $182 $156 $161 $153 $147 $162
Difference (corn - soybeans) -$21 -$34 $26 -$64 $39 -$20 $136 -$59 $6 -$8 $26 -$3 $37 $46 $13
                               
1Represents the average per bushel B14 receipt from Market Loan and Loan Deficiency Payment programs in Illinois.
2Data are from Illinois Farm Business Farm Management.  Revenue from AMTA, MLA, soybean and deficiency payments are not included.
Prepared by:  Gary Schnitkey and Dale Lattz, Department of Agricultural and Consumer Economics, University of Illinois, November 2003.
125 97 142 118 167 117 138 132 154 145 146 149 146 157
corn following corn $149 $89 $184 $107 $255 $115 $297 $184 $159 $147 $155 $132 $162 $165
corn following beans $178 $118 $212 $134 $285 $144 $337 $217 $186 $174 $182 $158 $190 $193
soybeans $199 $152 $186 $198 $246 $164 $201 $276 $180 $182 $156 $161 $153 $147
1/2 corn $189 $135 $199 $166 $266 $154 $269 $247 $183 $178 $169 $160 $172 $170 $190 $134
2/3 corn $175 $120 $194 $146 $262 $141 $278 $226 $175 $168 $164 $150 $168 $168 $181 $159