Back to Normal - Revised 2023 Crop Budgets with Lower Prices

Join Gary Schnitkey in this Farm Economics Update as he discusses the recent decline in commodity prices, specifically corn and soybeans for fall delivery. Learn about the factors behind this decline, including favorable weather in Brazil and rapid planting in the US. Discover the projected average prices for 2023, which are lower than the previous year.

Gary presents the revised 2023 crop budgets, revealing potential losses for farmers in central Illinois. Explore the implications of these lower prices and how they compare to cash rent rates. Find out what adjustments may be necessary, especially in cash rent, if prices continue to decline. Discover the price ranges that would be more favorable for farmers.

Stay informed about market fluctuations and make educated decisions for your farm's future. Don't forget to check out the farmdoc Daily for more insights and recommendations.
Paulson, N., G. Schnitkey, S. Sellars, C. Zulauf and J. Baltz. "Update on Growth Rates of Fertilizer, Pesticide and Seed Costs Over Time." farmdoc daily (13):62, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, April 4, 2023.
https://farmdocdaily.illinois.edu/2023/04/update-on-growth-rates-of-fertilizer-pesticide-and-seed-costs-over-time.html

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