Skip to content
Back to Guavy Wire
Commodities

Illinois Soybean Association Urges New Farm Bill Amid Rising Costs

Instruments
Wheat Corn
Share

The Illinois Soybean Association is urging Congress to pass a new farm bill to provide stability for farmers amid rising input costs. Tim Scates, District 16 director and Government Relations Committee chair, emphasized that it's time for a new farm bill after eight years without one.

Commodity prices have seen little change since the last farm bill was passed in 2018, with corn averaging $3.47 per bushel, soybeans at $9.15, and wheat at $5.14. In contrast, crop production expenditures nationwide totaled $181.9 billion in 2018 and grew to $235.3 billion in 2025.

Scates also highlighted the need for a new farm bill to address emerging technologies such as artificial intelligence, which farmers are incorporating into their operations.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc