Department of Agricultural and Consumer Economics -University of Illinois
Revenues will be projected for high-productivity farmland in central Illinois. These 2018 projections will be compared to previous average gross revenues for farms enrolled in Illinois Farm Business Farm Management (FBFM). Table 1 shows the components of gross revenue projections, including crop revenue, Market Facilitation Program (MFP) payments, ARC/PLC payments, and crop insurance. Projections are made for both corn and soybeans with both stated on a per acre basis.
Yields are projected at the highest level ever in 2018: 233 bushels per acre for corn and 70 bushels per acre for soybeans (see Table 1). For corn, the previous high was 231 bushels per acre occurring in 2014. The previous high for soybeans was 69 bushels per acre occurring in 2018 (for historical yields see Revenue and Costs for Illinois Crops). Note that these are average. There will be many farms with much higher yields. It is likely that some field averages on corn will approach 300 bushels per acre. Moreover, there will be areas with much lower yields. Several areas have been very dry, resulting in low yield estimates, and much lower revenue projections than given here.
See the FULL article with tables and charts HERE. https://farmdocdaily.illinois.edu/2018/09/closing-in-on-2018-gross-revenue-estimates-for-corn-and-soybeans.html