“Cost of production estimates, per bushel, for herbicide-tolerant soybeans are $8.89, $8.72 and $8.57 assuming 50, 56, and 62 bushels per acre, respectively. 2021 yields are at trend levels of 217 bushels per acre for corn and 68 bushels per acre for soybeans. Corn production was 15.115 billion bushels, an increase of 7%, with a record large average yield of 177 bushels per acre and a 4% jump in harvested acreage to 85.388 million. Projected crop profits for 2021 are improved from 2020 Profits vary by region and crop, but generally all show improvement from previous year. This would generate a net profit on corn of $86.60 per acre and $118.80 for soybeans with average yields. Introduction Revenue collected in the fiscal year ended June 30, 2021 totaled ... Yield per acre came in at 42.0 bushels up from 34.0 bushels the previous year. Market Environment Costs By Tracy Courage U of A System Division of Agriculture . the acre more than 2019. profits Average costs per acre for soybean ranged from $168 to $204 and average cost per bushel ranged from $3.30 to $4.19. Average returns per acre ranged from $62 to $194. Net returns to corn following soybeans would range from $55 to $74 per acre under conventional tillage, and average $82 and $75, respectively, under strip tillage and no-till. Pioneer Offers Soybean Growers More Profit Opportunities ... soybean According to the United Soybean Board, high oleic soybean acres are expected to grow to 1 million nationally in 2022, up from around 600,000 acres in 2021. Wheat, Soybean Combo Looks Favorable The expected loss in 2021 for rotation soybeans is $24 per acre. This price decline is combined with projections of rising non-land costs, further leading to lower returns.For 2019, operator and land returns are projected at $201 per acre for corn and $198 per acre for soybeans, for an average of $200 per acre.Any cash rent over $200 per acre will result … Wheat, however, will have its 2021 in 2022. In the soybean division averaged over years, seed makes up 13% of the total input costs, chemical inputs are 16%, fertilizer inputs are 10% and land costs make up 34% (Table 1). 2021 yields are at trend levels of 217 bushels per acre for corn and 68 bushels per acre for soybeans. The break-even price to cover total costs less other revenue for soybean in 2022 is projected at $11.06 per bushel. Fuel and machinery costs … By comparison, that makes 2021 a spectacular windfall. this Information File. Average costs per acre for soybean ranged from $168 to $204 and average cost per bushel ranged from $3.30 to $4.19. Gross revenue for rotation soybeans has declined from $670 per acre in 2013 to $556 per acre in 2021. Nonland interest accounted for most of the decrease. Soybean Producers Association. Finally, we want to congratulate the 1st place winner of the Dryland Division and the overall state winner: Breaking the previous state record with a yield of 117.1 bushels per acre we have Russel Hedrick of Catawba County. Economic optim al potash rates (0-0-60), the rates needed to maximize profit from the application of potash, ranged from 119 to 292 lb potash/A at $700/T potash and $12/bu soybeans (Table 1). In 2021, U.S. soybean production was 4.216 billion bushels with an average yield of 51 bushels per acre and harvested area of 82.603 million acres. Robust Use Reduces 2020/21 Soybean Stocks . Soybean Board Chairman Fred Catalano from Salem County also gave opening remarks and introduced Secretary Fisher. Commodity title payments total $30 per acre. Variable costs for 2022 Ohio soybeans are projected to range from $266 to $302 per acre. Better efficiency (low cost per bushel) occurs with higher yields. The Virginia Soybean Board FY 2020 – 2021 I. In crop year 2020/21, the yield of soybean crops in Brazil was forecast to reach 3.5 metric tons of oilseed per … Soybeans Wheat; Yield per acre 214; 204 62; 60 85; Price per bu $4.00; $4.00 $10.50; $10.50 $5.90; Crop revenue $856; $816 $651; $630 $502; ARC/PLC 0; 0 0; 0 0; Other gov't payments 0 0 0 0 0 Crop insurance proceeds 0; 0 0; 0 0 a free Granular Insights account. Plant at a depth of 2.5-5 centimetres. Commodity Planted All Purpose Acres Harvested Acres Yield Production Price per Unit Value of Production in Dollars; SOYBEANS: SOYBEANS: 1,550,000: 1,520,000 The final estimate of the 2020/21 U.S. soybean crop is 4.135 billion bushels, which is down 35 million from the previous forecast. The break-even price to cover total costs less other revenue for soybean in 2022 is projected at $11.06 per bushel. The forecast was based on a projected harvested area of 86.7 million acres and a trendline yield at 50.8 bushels per acre. The breakeven price needed to cover variable and fixed costs declined from $11.94 per bushel in 2015 to $10.39 in 2020. Soybean market prices for the 2020-2021 marketing year are projected to be below the breakeven price when land costs are included. watch live. Cost and return estimates are reported for the United States and major production regions for corn, soybeans, wheat, cotton, grain sorghum, rice, peanuts, oats, barley, milk, hogs, and cow-calf. Total costs per acre were the second highest in the last five years while total costs per bushel were the second highest in the last five years as well. No payments are included on soybean base acres. “We’re projecting returns to be, roughly, in the $200 per acre range,” Schnitkey said. The profit estimates are based on fall delivery ... even though fertilizer costs have more than doubled for many farmers between 2021 … Current futures prices, said Plastina, are indicating corn and soybean prices might average $3.90 and $9.50 per bushel in 2020-2021, respectively. $326.46 profit/ac. Fuel and machinery costs are expected to rise about $10 per acre in 2022. For 2021, a trend yield of 68 bushels per acre is used and the projected soybean price of $8.35 per bushel, giving crop revenue of $568 per acre. $510.68 profit/ac. If we assume 140,000 seeds per bag and 90% germ the input cost range for double crop soybean seed is $64.28/acre to $100.00/acre. Variable costs for 2022 Ohio soybeans are projected to range from $266 to $302 per acre. Comparable returns data exists for corn and soybean production since 2000 (see Figure 1). No payments are included on soybean base acres. It’s taken a while, but the economics for corn and soybean farmers have changed since late summer of 2020. The most profitable configuration was a planting rate of 120,000 seeds/acre combined with an R3 fungicide application (Figure 1). Projected returns above variable costs (contribution margin) range from $216 to $434 per acre for corn and $284 to $509 per acre for soybeans. Current cash corn prices for fall delivery for the 2022 crop year are near $4.50 to $5.00 per bushel at many locations in the Upper Midwest; while 2022 cash soybean prices are near $11.25 to $12.00 per bushel. HARRISBURG, PA (December 16, 2021) – 2021 turned out to be a pretty good year for Pennsylvania’s soybean growers, especially for Bucks County farmer Nathan Crooke, the commonwealth’s top producer in the Pennsylvania Soybean Yield Contest. In the thinner soils of steamier southern Illinois, profits all but disappear: a plus $7 for corn and plus $8 for soybeans. For 2021, operator and land returns for a 50% corn 50% soybeans rotation is projected at $224 per acre based on several key assumptions: 2021 prices are $3.40 per bushel for corn and $8.50 for soybeans, representing an economic recovery that is V-shaped. In cooler, later-planting northern Illinois, those per acre profits slip to $6 and $31 per acre, respectively, for corn and soybeans. These cost and return accounts are "historical" … Although Illinois tops soybean production, that does not necessarily mean it has the highest yield in the country. With record first-quarter demand, USDA Included in the tables are: the 2021 yield (if disclosed by NASS), the ten-year average, and the high and low yield from reported yields in the previous ten years. Soybeans are dominant in US crop production and in 2019 the #1 producing soybean US state was Illinois. Grain prices currently used as assumptions in the 2021 crop enterprise budgets are $4.30/bushel for corn, $11.55/bushel for soybeans and $6.25/bushel for wheat. The decline stems from a reduction for the U.S. average yield to 50.2 bushels per acre from the previous forecast of 50.7 bushels. Corn projects positive returns in all regions, with a range from $44 to $107 per acre. Acres < 15,000 15,000 - 24,ggg 25 - 44,ggg Not Disclosed Douglas ash burn 8,800 Barron 54 Dunn 64 ,500 Bu ffalo 32 ,800 Bayfield 1 ,200 Iron Ashland Vilas Florence Oneida Grain prices currently used as assumptions in the 2021 crop enterprise budgets are $4.30 per bushel for corn, $11.55 per bushel for soybeans and $6.25 per bushel for wheat. With the run-up in soybean prices, large positive returns to labor and management are shown in all regions. The average break-even from 2012 to 2021 was $8.92 per bushels, $2.13 per bushel below the projected 2021 level. Iowa is projected to have a 2021 soybean yield of 58 bushels per acre, compared to 53 bushels per acre in 2020, 55 bushels per acre in 2019, 57 bushels per acre in 2018, 56.5 bushels per acre in 2017 and the state record of 60.5 bushels per acre in … and 13 bushels per acre (bu/A) at the three locations, respectively (Figure 2). For soybeans, Bau is figuring an average yield of 54 bushels per acre and an average price of $11.50, gross return per acre is $621. Projected returns above variable costs (contribution margin) range from $216 to $434 per acre for corn and $284 to $509 per acre for soybeans. Dig deeper into your cost/acre with. 61.25: 40.61: 52.13: 58.42: 60.2: 61.98 Projected returns above variable costs (contribution margin) range from $216 to $434 per acre for corn and $284 to $509 per acre for soybeans. On a tonnage only basis, intercropping 2× MG7 soybean increased yield and produced $26 acre −1 more profit than monoculture corn. In years when insurance payments are not triggered, the use of RP-85% with SCO and ECO-95% will reduce this profit by 63% to $42 per acre. 2021 non-land costs are $568 per acre for corn and $360 per acre for soybeans The good news is that prices remain high for corn and soybeans, and farmers are expecting normal yields in 2022. Figure 4. This $30 per acre includes roughly $60 per acre of Price Loss Coverage (PLC) payments on base acres in corn. Sept. 24, 2021. The 2021 projected profits vary by region and crop. The good news is that prices remain high for corn and soybeans, and farmers are expecting normal yields in 2022. Operator and land return for soybeans is projected at $574 per acre. Results from Iowa State University’s Land Value Survey, issued recently by ISU’s Center for Agricultural and Rural Development, show the average value of an acre of Iowa farmland rose 29% over the past year to $9,751 per acre as of Nov. 1, 2021. Wheat variable expenses for 2022 are projected to range from $213 to $262 per acre. Use recommended variety at a seed rate of 20-30 kilogrammes per acre. Soybean Yield –Wisconsin: 2021 State Average: 55.0 Bushels per Harvested Acre. For soybeans, it was $434 per acre. ... compared to $213 per-acre average for 2021. This is lower than the current USDA projections for the 2021-22 marketing year (listed earlier). Phillips County soybean grower sets new yield record: 130 bushels per acre. The soil should be adequately moist and warm when planting. The gross return/acre for U.S. soybean producers from the USDA-ERS analysis was $494 per acre Ohio soybean growers enrolled in the Ohio Farm Business Analysis and Benchmarking Program (owned land) averaged $532 per acre The top yield this year was 291.6 bushels per acre. The average break-even from 2012 to 2021 was $8.92 per bushels, $2.13 per bushel below the projected 2021 level. This $30 per acre includes roughly $60 per acre of Price Loss Coverage (PLC) payments on base acres in corn. When breaking down the costs of production, the ISU update stated that, “For corn, … However, higher expected corn yields over a 30-year trend for 2021 suggest that on a per bushel basis, costs would increase by 1.0% – 2.6% to remain below their 2019 marks (Figure 1). Fuel and machinery costs are expected to rise about $10 per acre in 2022. The expected profit from corn production without crop insurance is $114 per acre ($1,174 expected revenue – $1,050 total costs). For years, corn has led in profitability, making corn-on-corn a top contender for many U.S. farmers. The top 10 soybean-producing countries in 2018 are:United StatesBrazilArgentinaChinaIndiaParaguayCanadaUkraineRussiaBolivia No payments are included on soybean base acres. 2009, $200 per acre for corn and $68 per acre for soybean production in 2012, and $193 per acre for corn and $65 per acre for soybean production in 2013 (Schnitkey et al., 2021, p.4). Soybean yields averaged 74 bushels per acre, 8 bushels higher than the 67 bushel average from 2014 to 2017. Market Facilitation Program (MFP) payments. In 2019, MFP payments in central Illinois averaged $122 per acre for soybeans and $1 per acre for corn. Without these payments, 2018 incomes would have been below the 2013-2017 average. Soybean fertilizer costs are expected to be $18 per acre higher next year at $63 per acre, assuming a 69 bpa yield. The 2022 projected costs exceed 2021 cost of $652 per acre by $124 per acre. and 13 bushels per acre (bu/A) at the three locations, respectively (Figure 2). 12/16/2021 9 Profits Global S&D (and transportation) influences which may threaten or sustain profitable grain prices Elaine Kub for the Nebraska Soybean Day and Machinery Expo Soybean Cost of Production 2022 per acre 2021 per acre Land –cash rent equivalent $143.65 $134.51 Herbicides, inoculants, insecticides, etc. With the run-up in soybean prices, large positive returns to labor and management are shown in all regions. Corn and Soybean Budgets for 2018 and 2019: Low Returns ... trend farmdocdaily.illinois.edu. “The average price for corn is near $3.90 per bushel in recent projections for the 2019 crop marketing year, showing the potential for a slight profit for most yield levels,” says Plastina. Operator and farmland returns were relatively high from 2010 to 2012 (see figure 4). 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