Cost to Produce Corn and Soybeans in Illinois—2023

In 2023, the total of all economic costs per acre for growing corn in Illinois averaged $1,301 in the northern section, $1,342 in the central section for farmland with “high” soil ratings, $1,291 in the central section for farmland with “low” soil ratings, and $1,214 in the southern section. Soybean costs per acre were $915, $967, $905 and $880, respectively (see Table 1). Costs were lower in southern Illinois primarily because of lower land costs. The total of all economic costs per bushel in the different sections of the state ranged from $5.68 to $6.42 for corn and from $12.90 to $14.43 for soybeans. Variations in these costs were related to weather, yields, and land quality. These figures were obtained from farm business records kept by farmers enrolled in the Illinois Farm Business Farm Management Association. The samples included only farms with more than 500 acres of productive and nearly level soils in each area of the state; these are farms without livestock. Farms located in the 22 counties north and northwest of the Illinois River are included in the sample for northern Illinois. Farms from 36 counties below a line from about Mattoon to Alton are in the sample for southern Illinois. The remaining 44 counties make up the sample for central Illinois. The sample farms averaged 1,882 tillable acres in northern Illinois, 1,619 acres in the central section with high soil ratings, 1,625 acres in the central section with lower soil ratings, and 1,801 acres in southern Illinois.