By Andi Anderson
Illinois crop budget projections for 2026 show improved revenue expectations for corn, soybeans, and wheat compared with earlier estimates released in January. Updated figures from farmdoc indicate that higher projected grain prices are helping offset rising production expenses, although projected returns for many Illinois crop operations remain below long-term averages.
The revised 2026 crop budgets include estimates for northern, central, and southern Illinois, with separate projections for high-productivity and low-productivity soils in central Illinois. According to the updated report, projected crop revenues increased due to stronger expected market prices. Corn prices were raised from $4.25 to $4.50 per bushel; soybean prices increased from $10.40 to $11.50, and wheat prices rose from $5.20 to $6.60 per bushel.
Despite higher projected revenues, production costs also continue rising. Fuel and fertilizer expenses increased during the past several months following the US conflict with Iran. However, experts noted that much of the fertilizer for the 2026 crop year was purchased before the recent price increases, limiting the impact on average fertilizer costs. Fuel costs are expected to rise more sharply across Illinois for farming operations.
Projected corn returns remain negative across Illinois. Losses for corn are projected between negative $45 and negative $53 per acre in northern and central Illinois, while southern Illinois could face losses near negative $91 per acre. Soybeans continue showing stronger return potential, with projected returns ranging from $30 per acre in southern Illinois to $67 per acre for central Illinois high-productivity soils.
Updated estimates for the 2025 crop year also show slightly weaker returns compared with earlier projections. Corn returns remain negative in all Illinois regions, while soybean returns are positive in northern and central Illinois but negative in southern areas.
Researchers explained that higher grain prices have improved 2026 return projections slightly, but overall profitability remains weak compared with historical averages. “Net returns are projected to be positive in 2026 but just $11 per acre.” Analysts also warned that rising fuel and fertilizer costs may create even larger financial pressure during the 2027 crop year if input prices continue increasing.
Photo Credit: pixabay-mediamodifier
Categories: Illinois, Business, Crops, Government & Policy