2017 Crop Budgets, 2016 Crop Returns, and 2016 Incomes09/29/2016
Revised projections of 2016 crop returns and 2017 crop budgets have been released. For 2016, soybeans are projected to have record-setting yields, leading to higher soybean returns than in 2015. Given that non-land costs and cash rent cuts have occurred, higher soybean returns should cause 2016 net incomes to be higher than 2015 incomes. However, crop budgets suggest very low returns and net incomes in 2017.