Acreage Allocation Projected as Flat In 2014 for Illinois
The U Ill people are saying that while in 2013 beans made more money than corn, in 2014 they think it will be the opposite for Illinois. But, they don't think there is enough difference to cause lots of changes in acreage allocations.
In 2014, corn is projected to be more profitable than soybeans on central Illinois farms with high-productivity farmland, differing from 2013 projections in which soybean returns exceed corn returns. While the current 2013 soybean-to-corn price ratio is high, harvest-time bids for 2014 lead to near average soybean-to-corn price ratio. Near average prices, along with lower fertilizer costs, then lead to corn being projected more profitable than soybeans in 2014. While 2014 corn-minus-soybean returns are projected positive, corn returns are projected to exceed soybean returns by less than the average corn-minus-soybean returns from 2006-2012. Overall, these return projections do not suggest large shifts in acres between corn and soybeans.
Since relative yields and costs do vary across farms, farms should evaluate profitability on their farm. Relative profits may differ from the averages shown in this post.
Issued by Gary Schnitkey
Department of Agricultural and Consumer Economics
University of Illinois"
I haven't decided yet whether to go back to more 50-50 on my Iowa farm or to stay about 60-40 corn. I'll probably decide when the corn harvest is done.
There are a lot of factors that enter in for me. How much on farm storage I have. The difference in workload planting and harvesting. Market timing. Agronomics. Weed and insect control. Amount and timing of field work. More than that.