However, a grower generally has more control over the cost of production than price. M. In the livestock corn division, the average cost per acre is $206 (minimum = $186 during 1993; maximum = $235 during 1987). 0 No other revenues are projected, giving a gross revenue projection of $567 per acre. This might not be much, but with crop insurance and if you out in all the required inputs, you might break even from your corn farm. However, it is great that you are reviewing the budget line by line and adjusting our state average estimates to reflect the specifics of your operation. The season average price for corn, projected in USDAs most recent supply and demand estimates, is $3.20, well below the $3.70 reference price that triggers PLC payments. hbbd```b``"_HRD2I V&%T$/"9;@h$-"%H`f3N$_ j6@ d-z Average corn yield per acre iowa - Iowa Blog Phosphorus and potassium were charged, respectively, at $.39 and $.30 per pound. equals the gross return per acre. Government programs to protect farmers from agriculture risk have been around for many years, Although ARC and PLC have only been around since 2014. The budgets are for four regions of Illinois (northern Illinois, central Illinois with high-productivity farmland, central Illinois with low-productivity farmland and southern Illinois). An acre of corn-grown ethanol vs an acre of solar panels. For the I do think were going to see more interest in flex rents, Johnson said. Even with declining costs, 2020 corn and soybean profits will be thin Projected prices are $5.30 per bushel for corn and $12.70 for soybeans, near current 2023 fall bids. Current futures prices seem to indicate that corn and soybean prices might average $4.45 and $11.40 per bushel in 2021/22, respectively. 1. With an average direct cost of $751 per acre of corn and $900 in sales, the farmer has about $149 left. What is the costs and profit on an acre of corn in the mid-west? Land costs account for 44% of total costs of soybean production, and variable costs account for an additional 42%. Johnson expects federal payments to come from two main sources, the farm bill programs of ARC (Agriculture Risk Coverage) and PLC (Price Loss Coverage) and from extraordinary payments meant to cushion losses from the economic effects of the coronavirus. Table 1 provides corn and soybean budgets for four regions of Illinois: More detailed budgets are available here in the management section of farmdoc. Even with those, the net return on beans is projected at a negative $15 an acre. Variable costs represent just over half of the costs of production, and nitrogen and seed costs account for about 43% of the variable costs. The 2023 crop budgets are based on projected input cost levels, trendline corn and soybean yields and per-bushel prices of $5.30 for corn and $12.75 for soybeans. Total costs are projected at $785 per acre, with $476 per acre in non-land costs and $309 per acre in cash rent. Solved 1. Corn. The average yield of corn (bushels per acre - Chegg.com How Much More Will The 2022 Crop Cost? | AgWeb 2023 Meredith Corporation. He estimates the average cash rent in Iowa this year at $222 per acre, which has changed little over the past four years. endstream endobj startxref
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