What did it cost to grow corn and soybeans in Illinois last year?
It cost about $704/acre to produce corn and $515/acre to produce soybeans in the state in 2010, according to figures from the Illinois Farm Business Farm Management Association. Overall, production costs were down compared to costs in 2009.
A study based on data supplied by the association showed production costs varied across the state. In the north where soils are rated in the high category, corn cost about $739/acre to produce. In the southern parts, corn production costs were $635/acre for low-rated soils. Soybeans cost between $524/acre in the north and $467/acre in the south.
The cost of corn production on a per-bushel basis ranged from $4.25/bu. to $4.38/bu. Soybeans cost from $8.98/bu. to $9.53/bu. to produce. All economic costs were included in these figures.
Bradley Zwilling, University of Illinois Department of Agricultual and Consumer Economics, analyzed the 2010 cost figures. The main reason for lower costs in the southern part of Illinois was lower land costs.
The average corn yield for all of Illinois was 164 bu./acre, which was the lowest in the past five years. The highest average corn yield on record was 194 bu. in 2008. However, the average Illinois soybean yield was the highest on record at 56 bu./acre.