MSU Extension Releases 2027 Projected Cost of Production Tools for Michigan Farmers

Farmers in Michigan are getting a valuable tool to estimate their costs of production for key crops. The MSU Extension has released its 2027 Projected Cost of Production tools for corn, soybeans, and wheat. These tools provide three versions of projected cost of production: Base Projection, Build-Up, and Push Production.

The Base Projection version minimizes costs without sacrificing yield, using chemical plans that align with fertilizer recommendations from the Tri-State Fertilizer Recommendations bulletin. The Build-Up version updates fertility plans to include recommended additional fertilizer inputs to build up soil nutrient levels based on example soil test results. The Push Production version aims for maximum yield output.

The tools use data from composite grain buyers, USDA's National Agricultural Statistics Service (NASS), and the Illinois production costs report from USDA's Agricultural Marketing Service (AMS). Individual farm values and break-even points are also included.