Cost of Producing Corn & Soybeans in Illinois

In 2024, total economic costs per acre for growing corn in Illinois averaged between $1,154 in the southern section and $1,251 in central areas with high-rated soils. Soybean costs ranged from $863 to $931 per acre. Southern Illinois had lower costs primarily due to lower land expenses. Costs per bushel varied, with corn ranging from $5.09 to $5.86 and soybeans from $12.42 to $15.41, influenced by weather, yields, and land quality.

Compared to 2023, corn production costs per bushel decreased across all regions, with lower fertility, power, and land costs driving reductions of up to 66 cents. Corn yields increased statewide, averaging 235 bushels per acre—seven bushels higher than the previous record. Soybean costs per bushel fell in most regions, except southern Illinois, where lower yields led to increased costs. Soybean production costs per acre declined across the state.

For 2025, projected corn and soybean costs are expected to decrease by 4% due to lower soil fertility expenses, though lower grain prices may offset savings. This data, provided by the Illinois Farm Business Farm Management Association, highlights key agricultural cost trends shaping Illinois crop production.

Source: FarmDocDaily.Illinois.com