Illinois Crop Budgets Show Improved Return Projections for Corn and Soybeans

The University of Illinois at Urbana-Champaign has released its initial crop budgets for 2027, showing improved return projections for corn and soybeans in some regions despite increases in projected production costs.

The adjustments to the 2026 crop budgets primarily involved higher prices for corn and soybeans, which resulted in partially offsetting reductions in projected payments from the ARC/PLC programs. The revised prices are $4.95 per bushel for corn and $12.20 per bushel for soybeans, both of which remain slightly below recent cash bids for fall delivery.

The 2027 crop budgets assume trend yield levels and price projections based on current harvest futures. The projected payment from the ARC/PLC programs is also included in the 2027 projections. Most individual cost items are expected to see moderate increases, with larger cost increases projected for fertilizers and crop insurance.

Despite these increases, net farmer return projections for corn acres in 2027 are slightly above break-even for all costs including cash rent at $28 to $36 per acre for the northern and central Illinois regions. Projected returns on soybeans are $68 to $86 per acre for northern and central Illinois.