Morning Ag Clips logo
  • Subscribe ❯
  • PORTAL ❯
  • LOGIN ❯
  • By Keyword
  • By topic
  • By state
  • Home
  • Events
  • Jobs
  • Store
  • Advertise
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Subscribe to our
    daily email
    ❯
  • Portal Registration❯
  • Login❯
  • policy
  • tractors & machinery
  • education
  • conservation
  • webinars
  • business
  • dairy
  • cattle
  • poultry
  • swine
  • corn
  • soybeans
  • organic
  • specialty crops
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Morning Ag Clips

  • By Keyword
  • By topic
  • By state
  • policy
  • tractors & machinery
  • education
  • conservation
  • webinars
  • business
  • dairy
  • cattle
  • poultry
  • swine
  • corn
  • soybeans
  • organic
  • specialty crops
  • Home
  • Events
  • Jobs
  • Store
  • Advertise
Home » Rough income year for grain farmers
GRAIN ... Comments

Rough income year for grain farmers

Average income on a 1500 acre grain for this year is just $25,000

PUBLISHED ON June 1, 2017

corn field
corn field
It looks like 2017 will be another rough year for grain farmers in the United States. Todd Gleason has more on the projected incomes. (United Soybean Board via Flickr)

URBANA, Ill. — It looks like 2017 will be another rough year for grain farmers in the United States. Todd Gleason has more on the projected incomes.

Even in Illinois, where the trend line yield for corn is 200 bushels to the acre and 61 for soybeans, the average income on a 1500 acre grain for this year is just $25,000. That’s not good says University of Illinois Agricultural Economist Gary Schnitkey.

Schnitkey: That $25,000 isn’t enough to cover all the family living withdrawals and capital purchase expenses needed for a family farm of this size. Seventy to eighty-thousand dollars is needed to be sustainable in the long run. So, we are looking, again, at some financial deterioration if these projections hold.

It is a projection that wasn’t quite so low earlier in the year. Then, like today, Schnitkey was using an average cash sales price of $3.70 a bushel in the Illinois crop budget for corn.

Schnitkey: What has caused our forecast to come down is the decline in soybean prices in recent weeks. Earlier in the year we were using $9.70 for price. It has now come down and we are using $9.00 in our projections. Even this is above fall delivery prices right now which is about $8.85. It is a pretty representative soybean price in central Illinois.

A decline in soybean prices to $9.00 likely will trigger 2017 ARC-CO payments, given county soybean yields are at trend levels. As a result, ILLINOIS’s 2017 projections build in a $15 per acre government payment. It arrive until the fall of 2018, but an estimated $20 payment from last year’s crop should arrive this fall.

In 2017, revenue is projected to be $755 per acre for corn, down by $77 per acre from last year. Gross revenue for soybeans is projected at $564 per acre, $140 per acre lower than in 2016.

— Gary Schnitkey, Agricultural Economist – University of Illinois  and Todd E. Gleason, Farm Broadcaster

For more news from Illinois, click here.

Click Here to find out more about your favorite topics

corn soybeans wheat

Spread the word

Browse More Clips

More to it than just the milkweed

Dairy a good source of vitamin K

Primary Sidebar

MORE

ILLINOIS CLIPS

FLOLO Farms Field Day showcasing organic practices
July 5, 2022
Angus breeders engage in premiere education at Beef Leaders Institute (BLI)
July 5, 2022
Market update, tips to side-dress manure, control flies
July 5, 2022
Mineral supplementation to improve repro performance
July 5, 2022
fungicide applications
Plan on at least one fungicide application
July 5, 2022
  • Trending
  • Latest

YOU MIGHT ALSO LIKE...

Colorado grain stock report
July 5, 2022
All wheat stocks stored in Northwest Region down 27 percent from June 1, 2021
July 5, 2022
NDCGA announces 35th anniversary celebration
July 5, 2022
National Association of Wheat Growers’ 2023 Farm Bill priorities
July 5, 2022
Apply now for the 2022-23 ASA Corteva Agriscience Young Leader Program
July 5, 2022

Footer

MORNING AG CLIPS

  • Sponsors
  • About Us
  • Advertise with Us
  • Privacy Statement
  • Terms of Service
  • Customer & Technical Support

CONNECT WITH US

  • Like Us on Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

TRACK YOUR TRADE

  • Markets & Economy
  • Cattle Updates
  • Dairy News
  • Policy & Politics
  • Corn Alerts

QUICK LINKS

  • Account
  • Portal Membership
  • Invite Your Friends
  • Subscribe to RSS
  • WeatherTrends
  • Just Me, Kate

© 2022 Morning Ag Clips, LLC. All Rights Reserved.