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"Projections for 2008 indicate that the differences between corn
and soybeans may be even wider than in 2006 and 2007," said Gary
Schnitkey, U of I Extension farm financial management specialist
who prepared the study with colleague Dale Lattz. "Corn is
projected to be more profitable in all regions of Illinois.
"If farmers have acres that could swing to other crop, corn
currently looks like the more attractive alternative."
The report, "Historic and Projected Corn versus Soybean
Returns: Release of FBFM Corn and Soybean Results," is available
online from U of I Extension's farmdoc site. (Report)
Summaries of financial data for 2007 from farms enrolled in
the Illinois Farm Business Farm Management program allow the
calculations of actual 2007 returns for corn and soybeans,
Schnitkey said. Using that data, the report identifies
historical trends and operator and farmland returns for grain
farms.
"As acreage decisions are made, the difference between corn
and soybean returns are of particular interest," he said. "In
recent years, the difference between corn and soybean returns
has increased, indicating that corn has become more profitable
than soybeans.
"In northern Illinois, for example, our projections indicate
corn may be $289 per acre more profitable than soybeans in
2008."
[Text from file received from
University of
Illinois Extension]
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