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Though all operations are different, breakeven prices for corn growers in central Illinois were about $5.27 a bushel in 2023, including costs for land and other expenses, according to University ...
Illinois corn crop ©Photo by James Baltz on Unsplash Many issues affecting the farming sector were touched on, including a farm bill, livestock laws, and trade agreements with other countries.
In northern Illinois, farmers could lose $140 per acre on average for corn and $30 an acre for soybeans with autumn delivery prices of $4.50 and $11.50 a bushel, respectively, the analysis showed.
Corn and soybean prices for this year's harvest already fell roughly 10% since the tariffs were first announced a couple of weeks ago. Joe Janzen, an agricultural economist with the University of Illinois, said that has “snuffed out” any profitability in those crops.
The US is the world's largest producer of corn. [8] According to the United States Department of Agriculture (USDA), the average U.S. yield for corn was 177 bushels per acre, up 3.3 percent over 2020 and a record high, with 16 states posting state records in output, and Iowa reporting a record of 205 bushels of corn per acre.
Corn prices on the Chicago Board of Trade dropped from US$7.99 per bushel in June to US$3.74 per bushel in mid-December; wheat and rice prices experienced similar decreases. [159] The UN's Food and Agriculture Organization, however, warned against "a false sense of security", noting that the credit crisis could cause farmers to reduce plantings ...
Corn was the top crop for subsidy payments prior to 2011. The Energy Policy Act of 2005 mandated that billions of gallons of ethanol be blended into vehicle fuel each year, guaranteeing demand, but US corn ethanol subsidies were between $5.5 billion and $7.3 billion per year. Producers also benefited from a federal subsidy of 51 cents per ...
There is no arguing when it comes to the fact that grocery prices have risen in the past few years, including in Illinois. Illinois among most expensive states to buy groceries, according to new ...