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Average feed costs in 2024 were substantially lower than in 2022 and 2023. Moreover, a further reduction in feed costs is expected for the upcoming year. Current projections use corn prices ranging from $4.25 to $4.50 per bushel, and soybean meal prices ranging from $275 to $325 per ton. Given the volatility of feed ingredient prices, each $0.10 per bushel change in corn price changes feed cost by $0.43 per cwt. Each $10 per ton change in soybean meal price changes feed cost by $0.38 per cwt.
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10 Years of PCM Data: What Actually Pays on Your Farm?

June 3rd, 2025

What in-field practices are really making money on Midwest farms? Join us as we dig into PCM’s latest data publication featuring 10 years of financial analysis from Illinois farms. We’ll show how reduced tillage systems, optimal nitrogen rates, and strategic…

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Relative to total premium, soybeans and corn receive smaller payments from the US crop insurance program than other large acreage US field crops. A new approach is needed, specifically, new products that reduce the total insurance premium, especially for soybeans and corn. Joint soybean-corn insurance is one such product. It is estimated that joint soybean-corn insurance has the potential to increase net indemnities paid to soybeans and corn by 13% with no increase in Federal premium subsidies.
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Total production and farm real estate loan balances declined by 6.28% and 3.44%, respectively, at agricultural banks during the first quarter of 2025. In contrast, non-agricultural banks reported a smaller decline in production loan balances (down 1.70%) while farm real estate loan balances increased by 2.00% from the previous quarter. In terms of profitability, agricultural banks reported a lower average net interest margin of 3.62% compared to 3.77% for non-agricultural banks.
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The House Reconciliation Bill includes provisions to modify the Supplemental Coverage Option, a crop insurance product providing county coverage above Revenue Protection and other farm-level products. This article examines what the payments would have been from 2015 to 2023 under the proposed structure and finds that the proposed SCO product would have limited benefits to corn and soybean production in many Midwest states. More benefits, however, would have flowed to riskier production regions.
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Brazil’s 2024–25 corn harvest is expected to be the second largest in the country’s history, with a projected 5 billion bushels, according to Conab, the country’s food supply and statistics agency. The volume is higher than last year and above previous projections due to favorable rainfall in April and May. Despite the large harvest, Brazilian corn exports in 2025 are projected to decline due to rising domestic demand from animal feed producers and the expanding corn ethanol industry.
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During the 2007 to 2024 period, net cash farm income and borrowed funds were used to purchase assets. Average net asset purchases were approximately $153,000 per year. In relatively strong net income years, average net asset purchases exceeded $200,000. In contrast, in relatively weak net incomes years, average net asset purchases dropped below $100,000. Given the relatively weak net income prospects for 2025, we would expect net asset purchases to be below their average since 2007 this year.
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Stepping back from specific tactics or methods, the big picture serves up reminders about the complexities, risks, and challenges involved with implementing cover crops. Flexibility is critical because no single piece of advice will be the right one for all of the scenarios Mother Nature can bring to a season. Adapting to the weather conditions of the growing season is key to a successful harvest in any agricultural system, and cover cropping systems are no different.
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