Profit Potential Higher for Corn than Soybeans, According to Illinois Economist

While at one point this year most economists expected more soybean acres than corn, due to profitability potential, world events have quickly shifted that outlook. Corn prices have improved and a University of Illinois Extension ag economist believes that corn will likely be more profitable than soybeans in every area of Illinois, with potential for a similar trend across the Corn Belt. Even though fertilizer costs have more than doubled, midwestern delivery price estimates are $6 for corn and $14 for soybeans. This means the average central Illinois farmer, even with tripled fertilizer prices, has the potential to see a return on investment of $276/acre for corn and $199 for soybeans.

The most recent USDA estimate for total crop acres places corn at 92 million and soybeans at 88 million. However, as world events have reminded everyone over the last couple of years, prices can change quick as global factors unfold.

Read more on corn and soybean profit potential here.