Machinery Cost of Operations Estimates
Machinery Cost Estimates Summary
Field Operations
Harvest Operations
Forage Operations
Machinery Economics
Analyzes the cost of completing fieldwork and generates machinery costs.
Illinois Crop Budgets and Historic Returns
2024 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
Revenue and Costs for Illinois Grain Crops
Shows historical cost for the last 5 years and projections for next year. Table gives results for corn, soybeans, wheat,…
2023 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
Costs to Produce Corn and Soybeans in Illinois—2023
The total of all economic costs per acre for growing corn and soybeans in Illinois.
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Farm Projection Tool
This program calculates per-acre budgets for different crops and a whole farm budget and includes breakevens. Projected financial statements and…
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Illinois crop budgets for 2024 have been revised from their initial release in August. The main revision in the budgets is a reduction in the corn and soybean prices assumed for both 2023 and 2024, resulting in lower return and profitability projections. Current farmer return expectations are negative for both corn and soybeans across all regions for 2024 for cash rented land at average cash rent levels, suggesting cost adjustments will be needed in 2024 and beyond.
In today’s farmdoc daily article, we discuss the need to keep family living costs in mind when creating 2024 crop budgets. In 2022, the total noncapital living expenses of 1,329 farm families enrolled in the Illinois Farm Business Farm Management Association averaged $91,401, or about $7,600 a month for each family. This average was about 6% higher than in 2021. Another $7,432 was used to buy capital items such as the personal share of the family automobile, furniture and household equipment.
We update the 2023 Crop Budgets to reflect declining corn and soybean bids for fall delivery. At currently projected price levels — $5.00 per bushel for corn and $12.30 for…
Illinois crop budgets for 2023 have been revised from their initial release in August (farmdoc daily, August 2, 2022). Corn prices have been increased from $5.30 per bushel in August…
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Historic Crop Budgets
2022 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
2020 Cost to Produce Corn and Soybeans in Illinois
2021 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
2020 Budgets For All Regions
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided…
2019 Budgets For All Regions
2013 – 2016 Budgets For All Regions
2018 Budgets For All Regions
2017 Budgets For All Regions
2016 Budgets For All Regions
Illinois Rental Fact Sheets
September 13, 2022
August 10, 2021
Variable Cash Rent Leasing Fact Sheet
Index Numbers of Illinois Farmland Values
Related Tools
Farm Projection Tool
This program calculates per-acre budgets for different crops and a whole farm budget and includes breakevens. Projected financial statements and…
Related Articles - View All
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Finance
Financial Characteritics of Illinois Farms
Credit Reports and Consumer Credit Scoring
Whole Farm and Other Reports
Summary of Illinois Farm Business Records
Farm Income and Production Cost Summary
Farm and Family Living Income and Expenses
Cost to Produce Beef in Illinois
Cost to Produce Milk in Illinois
Commodity Title Alternatives
January 11, 2022
Farmers will again have until March 15 to make commodity title program selections. Given the current high prices, commodity title payments are not expected from any program option...
December 12, 2018
On Monday December 10, 2018, the House and Senate conference committee released the conference report for the Agriculture Improvement Act of 2018...
September 24, 2019
Farmers and landowners can now decide whether to receive commodity title payments from either Agricultural Risk Coverage at the county...
September 17, 2019
Farmers and landowners can now make the decision between farm programs, receiving commodity title payments...
November 5, 2019
The 2018 Farm Bill What-If Tool has been released (click here to download). This Microsoft Excel spreadsheet will estimate Price Loss Coverage (PLC) and Agricultural Risk Coverage at the county level...
October 29, 2019
ARC-IC (Agriculture Risk Coverage – Individual) has received less attention than ARC-CO (ARC – County) and PLC (Price Loss Coverage). ARC-IC is operationally more complex...
January 7, 2020
Agricultural Risk Coverage at the Individual Level (ARC-IC) should be considered as a commodity title alternative for 2019 and 2020 in two special cases...
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The Gardner Payment Calculator provides estimates of expected payments and likelihood of payments for ARC-CO and PLC. Payment estimates are provided for the program years from 2019 to 2023. Users can select the state, county, and crop combination that they wish to consider.
If you are having trouble registering please view the faq or watch the video below.
This program calculates Agricultural Risk Coverage for County Coverage (ARC-CO), Price Loss Coverage (PLC) payments, and ARC at the Individual Level (ARC-IC). County yields and market year average (MYA) prices are brought in for a user-specified state-county-crop combination. Users then can change 2018 through 2020 county yields and prices to see ARC-CO and PLC payments under those yields and prices.
As an alternative to the executable tool you can download the spreadsheet here.
Related Videos
Price Loss Coverage: Evaluation of Proportional Increase in Statutory Reference Price and a Proposal
The next farm bill is currently being debated, and one proposal receiving attention is to increase statutory reference prices by the same percentage for all program crops. A straight percentage increase in statutory reference prices will further advantage peanuts and rice while having little impact on soybeans. As a result, changes to other commodity title programs likely are needed. Soybeans, corn, and wheat would likely benefit more from improving ARC than from increasing reference prices.
A View of the Farm Bill Through Policy Design, Part 4: ARC and PLC
In today’s farmdoc daily article, we continue our multi-part series presenting a view of the Farm Bill through perspectives of policy design. This article turns to the farm payment programs in Title I of the Farm Bill and explores the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) row crop programs. If the words of statutes determine the operation of policies and the distribution of benefits, then the PLC and ARC programs offer straight-forward examples.
Farm Bill 2023: The Intersection of Base Acres and Reference Prices
In today’s farmdoc daily article, we look at the intersection of base acres and reference prices. A mandatory base acre update that better aligns program payments with planted acres will impact states and crops to different degrees depending on where Congress established reference prices relative to market prices. It is at this intersection that the political collisions within the farm coalition occur as farmers, commodity factions, and production regions are pitted against each other.
Farm Bill 2023: Planted Acres and Additional Pieces of the Base Acres Puzzle
In today’s farmdoc daily article, we take a further look into a potential mandatory base acre update in the 2023 Farm Bill. There are three basic arguments for requiring a mandatory base acre update — improved equity or fairness in the programs, better aligning of payments with reality and producing CBO savings to use as an offset. However, there are at least an equal number of reasons Congress would decide not to do so, some of them justifiable and others simply political or factional matters.
Farm Bill 2023: Reviewing Pieces of the Base Acres Puzzle
One of the enduring puzzles of American farm policy involves the acres for which farmers receive farm program payments. Decoupled base acres — a substantial reform in the 1996 Farm Bill — attempts to address that puzzle. Up until the 1996 Farm Bill, federal support for program crops had been plagued by the problem that the federal assistance incentivized planting. Moreover, it provided the most incentive when prices were the lowest and crops oversupplied, which only contributed further to the supply and price problems. Base acres may present myriad problems of its own, but history teaches that the alternatives could be much worse or more problematic.
Commodity Title Choices and Payment Expectations
Program crops have dramatically different enrollments in the two major commodity title choices: Price Loss Coverage (PLC) and Agricultural Risk Coverage at the county level (ARC-CO). Soybeans has a high…
PLC and ARC-CO for Soybeans: Payments and Perspectives
We show payments for soybeans from Price Loss Coverage (PLC) and Agriculture Risk Coverage at the county level (ARC-CO) to aid in the deliberations over the next farm bill. Unlike…
ARC-CO: Background, Payments, and Perspectives for Corn
We provide background and county-level payments for Agricultural Risk Coverage at the county level (ARC-CO) for corn. Payments are shown after the 2018 Farm Bill was implemented in 2019 and…
2023 and 2024 Effective Reference Prices and the Next Farm Bill
The reference price escalator was introduced in the 2018 Farm Bill and uses effective reference prices to calculate Price Loss Coverage (PLC) payments. Effective reference prices can exceed statutory reference…
Mulling over Margin, Part 4: Lessons from Canada’s Whole-farm Margin Protection Program
Introduction High farm input costs, especially for fertilizer and fuel, have reinvigorated arguments for farm support programs where payments are triggered when the cost of production rises. Historically, cost of…