CROP BUDGETS
Department of Agricultural and
Consumer Economics
University of Illinois

Introduction
Gary Schnitkey
Department of Agricultural and Consumer Economics
University of Illinois
June 2016
This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. Central Illinois is further divided into categories for high-productivity farmland and low-productivity farmland.
Budgets are prepared to include all revenue and all financial non-land costs. Revenue includes crop revenue and government commodity payments. Costs include all cash costs associated with producing the crop as well as depreciation. These costs are divided into three categories: 1) direct costs – costs that can be directly attributable to the production of the crop, 2) power costs – costs related to machinery operations, and 3) overhead – costs associated with general operation of the farm.
Subtracting non-land costs from revenue yields “operator and land return”. This is the return remaining to pay for farmland and provide a return to the operator. In a cash rent situation, the payment for farmland is cash rent. If the operator and land return is $170 per acre and cash rent is $150 then the operator will have $20 of return.
Acknowledgments: Much of the data used in these budgets comes from the local Farm
Business Farm Management (FBFM) Associations across the State of Illinois. Without their cooperation, information as comprehensive and accurate as this would not be available for educational purposes. FBFM, which consists of 5,500 plus farmers and over
60 professional field staff, is a not-for-profit organization available to all farm operators in Illinois. FBFM field staff provides on-farm counsel with computerized recordkeeping, farm financial management, business entity planning and income tax management. For more information, please contact the State FBFM Office located at the University of
Illinois Department of Agricultural and Consumer Economics at 217-333-5511 or visit the FBFM website at www.fbfm.org
.

Table 1. 2016 Crop Budgets, Northern Illinois.
Cornafter-
Soybeans
Cornafter-
Corn
Soybeansafter-
Corn
Soybeansafter-Two
Years-Corn
Yield per acre
Price per bu
Crop revenue
ARC/PLC
Crop insurance proceeds
Gross revenue
Fertilizers
Pesticides
Seed
Drying
Storage
Crop insurance
Total direct costs
Machine hire/lease
Utilities
Machine repair
Fuel and oil
Light vehicle
Mach. depreciation
Total power costs
Hired labor
Building repair and rent
Building depreciation
Insurance
Misc
Interest (non-land)
Total overhead costs
Total non-land costs
Operator and land return
186
$3.85
$716
30
0
$746
$140
66
123
27
5
24
$385
$18
6
26
18
2
70
$140
$19
8
18
11
9
19
$84
$609
$137
196
$3.85
$755
30
0
$785
$130
60
123
28
5
24
$370
$18
6
26
18
2
70
$140
$19
8
18
11
9
19
$84
$594
$191
Prepared by: Gary Schnitkey, University of Illinois, schnitke@illinois.edu, 217 244-9595.
Available in the management section of farmdoc
(www.farmdoc.illinois.edu).
Revised: June 2016
60
$10.60
$636
30
0
$666
$30
30
76
0
3
13
$152
$16
5
22
17
2
61
$123
$17
4
9
11
9
16
$66
$341
$325
62
$10.60
$657
30
0
$687
$30
30
76
0
3
13
$152
$16
5
22
17
2
61
$123
$17
4
9
7
9
16
$62
$337
$350
Wheat
75
$4.20
$315
30
0
$345
$76
27
50
1
1
9
$164
$18
7
33
20
2
49
$129
$15
3
8
5
9
14
$54
$347
-$2

Table 2. 2016 Crop Budgets, Central Illinois -- High Productivity Farmland.
Cornafter-
Soybeans
Corn- Soybeansafter-
Corn after-
Soybeansafter-Two
Corn Years-Corn
Double-
Crop
Wheat Soybeans
Yield per acre
Price per bu
Crop revenue
ARC/PLC
Crop insurance proceeds
Gross revenue
Fertilizers
Pesticides
Seed
Drying
Storage
Crop insurance
Total direct costs
Machine hire/lease
Utilities
Machine repair
Fuel and oil
Light vehicle
Mach. depreciation
Total power costs
Hired labor
Building repair and rent
Building depreciation
Insurance
Misc
Interest (non-land)
Total overhead costs
Total non-land costs
Operator and land return
191
$3.85
$735
30
0
$765
$12
5
22
17
1
64
$121
$135
72
116
14
14
24
$375
$17
5
12
10
8
14
$66
$562
$203
201
$3.85
$774
30
0
$804
$12
5
22
17
1
64
$121
$125
66
116
15
14
24
$360
$17
5
12
10
8
14
$66
$547
$257
60
$10.60
$636
30
0
$666
$11
4
20
17
1
59
$112
$32
40
76
1
8
16
$173
$16
4
11
10
8
12
$61
$346
$320
58
$10.60
$615
30
0
$645
$11
4
20
17
1
59
$112
$32
40
76
1
8
16
$173
$16
4
11
10
8
12
$61
$346
$299
Prepared by: Gary Schnitkey, University of Illinois, schnitke@illinois.edu, 217 244-9595.
Available in the management section of farmdoc (www.farmdoc.illinois.edu).
Revised: June 2016
75
$4.20
$315
30
0
$345
$18
7
33
20
2
49
$129
$76
27
50
1
1
9
$164
$15
3
14
$54
8
5
9
$347
-$2
32
$10.60
$339
0
0
$339
$11
5
27
21
2
30
$96
$24
36
45
0
1
4
$110
$13
6
7
$31
5
0
0
$237
$102

Table 3. 2016 Crop Budgets, Central Illinois -- Low Productivity Farmland.
Cornafter-
Soybeans
Corn- Soybeansafter-
Corn after-
Soybeansafter-Two
Corn Years-Corn
Double-
Crop
Wheat Soybeans
Yield per acre
Price per bu
Crop revenue
ARC/PLC
Crop insurance proceeds
Gross revenue
Fertilizers
Pesticides
Seed
Drying
Storage
Crop insurance
Total direct costs
Machine hire/lease
Utilities
Machine repair
Fuel and oil
Light vehicle
Mach. depreciation
Total power costs
Hired labor
Building repair and rent
Building depreciation
Insurance
Misc
Interest (non-land)
Total overhead costs
Total non-land costs
Operator and land return
176
$3.85
$678
30
0
$708
$13
6
24
18
1
64
$126
$135
74
121
13
13
22
$378
$16
6
13
10
8
14
$67
$571
$137
186
$3.85
$716
30
0
$746
$13
6
24
18
1
64
$126
$125
68
121
13
13
22
$362
$16
6
13
10
8
14
$67
$555
$191
55
$10.60
$583
30
0
$613
$11
4
20
16
1
58
$110
$32
35
77
1
4
16
$165
$16
4
11
10
8
12
$61
$336
$277
53
$10.60
$562
30
0
$592
$11
4
20
16
1
58
$110
$32
35
77
1
4
16
$165
$16
4
11
10
8
12
$61
$336
$256
Prepared by: Gary Schnitkey, University of Illinois, schnitke@illinois.edu, 217 244-9595.
Available in the management section of farmdoc (www.farmdoc.illinois.edu).
Revised: June 2016
71
$4.20
$298
30
0
$328
$13
4
18
15
1
48
$99
$22
28
41
1
1
8
$101
$13
2
14
$53
9
8
7
$253
$75
32
$10.60
$339
0
0
$339
$10
4
18
15
1
38
$86
$74
37
50
0
1
5
$167
$13
6
7
$35
9
0
0
$288
$51

Table 4. 2016 Crop Budgets, Southern Illinois.
Cornafter-
Soybeans
Corn- Soybeansafter-
Corn after-
Soybeansafter-Two
Corn Years-Corn
Yield per acre
Price per bu
Crop revenue
ARC/PLC
Crop insurance proceeds
Gross revenue
Fertilizers
Pesticides
Seed
Drying
Storage
Crop insurance
Total direct costs
Machine hire/lease
Utilities
Machine repair
Fuel and oil
Light vehicle
Mach. depreciation
Total power costs
Hired labor
Building repair and rent
Building depreciation
Insurance
Misc
Interest (non-land)
Total overhead costs
Total non-land costs
Operator and land return
48
$10.60
$509
25
0
$534
$12
6
27
16
1
59
$121
$38
30
76
0
4
13
$161
$25
4
11
13
10
15
$78
$360
$174
154
$3.85
$593
25
0
$618
$12
7
28
18
1
69
$135
$130
72
119
8
6
19
$354
$30
7
19
13
10
15
$94
$583
$35
164
$3.85
$631
25
0
$656
$12
7
28
18
1
69
$135
$120
66
119
8
6
19
$338
$30
7
19
13
10
15
$94
$567
$89
Prepared by: Gary Schnitkey, University of Illinois, schnitke@illinois.edu, 217 244-9595.
Available in the management section of farmdoc (www.farmdoc.illinois.edu).
Revised: June 2016
48
$10.60
$509
25
0
$534
$12
6
27
16
1
59
$121
$38
30
76
0
4
13
$161
$25
4
11
13
10
15
$78
$360
$174
68
$4.20
$286
25
0
$311
$14
7
33
16
2
49
$121
$80
28
41
1
1
8
$159
$13
8
11
9
7
17
$65
$345
-$34
Double-
Crop
Wheat Soybeans
32
$10.60
$339
0
0
$339
$11
5
22
14
2
30
$84
$24
36
45
0
1
4
$110
$13
6
7
$31
5
0
0
$225
$114