Deciding on 2011 inputs01/18/2011 - 01/31/2011
Did last week's big USDA numbers cause you to question your acreage decisions for your 2011 crop? If you're still on the fence, maybe the expense side can help you decide.
Non-land costs (fertilizer, seed, pesticides, drying, storage, crop insurance, power and overhead) for the coming crop year look to be higher than last year, but still not quite at 2009 levels, according to University of Illinois ag economicst Gary Schnitkey. Numbers the economist released Tuesday show per-acre expenses will average just under $500 ($492, to be exact) for "high-productivity farmland" like in central Illinois. Once you add in land costs -- which Schnitkey says will average around $230/acre -- and total per-acre costs are $722/acre.