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Machinery Cost of Operation Estimates
In addition to the Summary, download the reports for
- Field Operations: This publication shows estimated costs of performing agricultural field operations.
- Harvest Operations: This publication shows estimated costs for combining, using grain carts, and hauling grain.
- Tractor Costs: Shows estimated costs for different sized tractors.
- Forage Operations: This publication shows estimated costs for owning and operating forage machinery.
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. Updated August 29, 2023
- 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, and double crop soybeans in four regions of Illinois. Updated August 29, 2023
- 2023 Budgets For All Regions: This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Updated may 5, 2023
- 2022 Cost to Produce Corn and Soybeans in Illinois: The total of all economic costs per acre for growing corn and soybeans in Illinois. Updated April 14, 2023
- Information for Setting 2023 Cash Rents: Results from the Illinois Society suggest rising cash rents in 2023, though at lower rates than occurred in 2022.
- Share Rent Leasing Fact Sheet: Updated April 4, 2017
- Cash Rent Leasing Fact Sheet: Updated April 4, 2017
- Structure for a Variable Cash Rent: Updated August 10, 2021
- Variable Cash Rent Leasing Fact Sheet: Updated April 4, 2017
- Index numbers of Illinois Farmland Values: Updated August 7, 2023
- Financial Characteristics of Illinois Farms: This report is based on data obtained from farm business records on Illinois farms. It is an annual summary of such records obtained from farmers cooperating with University of Illinois Extension, the Department of Agricultural and Consumer Economics, and the Illinois Farm Business Farm Management (FBFM) Association. Updated March 17, 2022
- Credit Reports and Consumer Credit Scoring: Credit reports and scores are being used for many decisions such as credit determination and pricing; insurance pricing; government licenses; and employment. It is important for you to check your reports to identify errors and detect fraud. It is also important to check your report to become an informed consumer of information being used to make decisions about you. Updated April 1, 2017
Whole Farm and Other Reports
- Summary of Illinois Farm Business Records: This report is based on farm income and earnings data on Illinois farms. It is an annual summary of such records obtained from farmers cooperating with University of Illinois Extension, the Department of Agricultural and Consumer Economics, and the Illinois Farm Business Farm Management (FBFM) Association. Updated September 1, 2018
- Farm Income and Production Cost Summary: This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016. Updated April 26, 2019
- Farm and Family Living Income and Expenses: Summary of annual capital and noncapital family living expenditures and income and social security tax payments. Updated October 21, 2022
- Cost to Produce Beef in Illinois: Report with summary of cost to produce beef in Illinois. Updated May 19, 2023
- Cost to Produce Milk in Illinois: Report with summary of cost to produce milk in Illinois. Updated December 16, 2022
Commodity Title Alternatives
- 2022 PLC and ARC Decision: Updated January 11, 2022
- The Agriculture Improvement Act of 2018 Review: Updated December 12, 2018
- The Price Loss Coverage Option in the 2018 Farm Bill: Updated September 24, 2019
- The Agricultural Risk Coverage: County Level (ARC-CO) Option in the 2018 Farm Bill: Updated September 17, 2019
- Release of 2018 Farm Bill What-If Tool: Updated November 5, 2019
- The Case for Looking at the ARC-IC (ARC-Individual) Program Option: Updated October 29, 2019
- ARC-IC in 2019: Release of a 2019 ARC-IC Payment Calculator: Updated January 7, 2020
2023 Custom Rates
There will be times that you hire custom machine work for your farm business or provide that service to others. Iowa Extension has a several tools to assist you in understanding trends in those costs. IOWA EXTENSION: This rate schedule is intended only as a guide. Actual custom rates may vary according to availability of machinery in a given area, timeliness, operator skill, field size and shape, crop conditions, and the performance characteristics of the machine being used.
The award-winning program was first created in 1999. Their site had nearly 4 million unique visitors in 2020. The site is operated by the Department of Agricultural and Consumer Economics within the University of Illinois College of Agriculture, Consumer and Environmental Sciences. Its educational partners include ACE, Farm Bureau Farm Management, and Illinois Extension.