From WILL - Ag Notes -

2014 Crop Budgets Project Much Lower Corn Income

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(Duration: 4:43)

Quote from Gary Schnitkey.

U of I Extension Farm Management Specialist Gary Schnitkey thinks lower projected corn incomes in 2024 could cause producers to plant more soybeans. Todd E. Gleason

The 2014 Illinois Crop Budgets have lower returns than received in recent years.  This suggests incomes will be down from recent levels in the upcoming year.

Much can happen between now and 2014 harvest.  Price expectations can change.  Moreover, cost expectations, particularly for fertilizer, could vary from those shown in this release of the budgets.  These budgets will be updated as market conditions change.

Budgets represent averages across many farms.  Individual farms can vary from the budgeted amounts.  Farmers should evaluate their own costs contained in budgets.

Submitted by:  Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois

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Categories: Agriculture