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When Creating 2022 Crop Budgets, Keep in Mind Family Living Costs

October 15, 2021

Bradley Zwilling

In 2020, the total noncapital living expenses of 1,088 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $76,672–or about $6,400 a month for each family (Figure 1). This average was about 2.8 percent lower than…

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Machinery Cost Estimates for 2021

October 12, 2021

Dale Lattz and Gary Schnitkey

Machinery cost estimates for 2021 have been released and are available on the farmdoc website (see Management section of farmdoc). Machinery costs are updated every two years, with the last update occurring in 2019. Substantial increases in list prices of…

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2020 Incomes and Capital Expenditure

October 5, 2021

Gary Schnitkey, Krista Swanson, Nick Paulson, and Carl Zulauf

Average net farm income on Illinois grains farms was above-average in 2020 primarily because of two factors: 1) higher corn and soybean prices in the second half of 2020, and 2) Federal aid through the Coronavirus Food Assistance Program (CFAP)…

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Pandemic Assistance to Illinois Agricultural Producers in 2020 from the Coronavirus Food Assistance Program (CFAP) and the Paycheck Protection Program (PPP)

October 4, 2021

Anil K. Giri, Joe Janzen, Dipak Subedi, and Iuliia Tetteh

In response to market disruptions and economic harm caused by the Coronavirus (COVID-19) pandemic, the U.S. federal government initiated a series of relief programs for U.S. consumers and businesses, including farmers and ranchers. Of these programs, the two rounds of…

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Conventional and Organic Enterprise Net Returns

October 1, 2021

Michael Langemeier

Due to continued increases in demand for certified organic grains, crop farmers that have transitioned from conventional to certified organic grains report higher net returns per acre (McBride et al., 2015; Greene et al., 2017; Langemeier et al., 2020; Center…

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2021 Commodity Program Enrollment Dashboard

September 30, 2021

Carl Zulauf, Gary Schnitkey, Krista Swanson, and Nick Paulson

This article contains a summary of the US Department of Agriculture (USDA), Farm Service Agency (FSA) report on commodity program choice for the 2021 crop year. For most crops, share of base acres enrolled in ARC-CO (Agriculture Risk Coverage –…

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Trends in Farmland Leasing

September 28, 2021

Gary Schnitkey, Nick Paulson, Carl Zulauf, and Krista Swanson

Over time, more Illinois farmland is being cash rented rather than share rented. Cash rental arrangements adjust more slowly to changes in farmland returns than share rental agreements. As more farmland is cash rented, a farm’s financial position will become…

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When Creating 2022 Crop Budgets, Keep in Mind Family Living Costs

Recent Articles

Machinery Cost Estimates for 2021

2020 Incomes and Capital Expenditure

Pandemic Assistance to Illinois Agricultural Producers in 2020 from the Coronavirus Food Assistance Program (CFAP) and the Paycheck Protection Program (PPP)

Conventional and Organic Enterprise Net Returns

2021 Commodity Program Enrollment Dashboard

Trends in Farmland Leasing

Recent Series

Weekly Outlook

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Machinery Cost Estimates for 2021

2020 Incomes and Capital Expenditure

Trends in Farmland Leasing

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WASDE 2021 Price Projections in Historical Perspective

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