Data from the University of Purdue shows that 2024 estimated breakeven prices are declining. The breakeven price for corn is expected to decline from $6.50 per bushel to $4.75 per bushel for the marketing year. Supply-and-demand fundamentals indicate the price could drop as low as $4 even or rise to $5.25 per bushel. Purdue says expected breakeven costs will be about 10% lower than in 2023.

Soybean breakeven costs are coming in at 5% lower at $12.40 for average-productivity soils and $11.70 for high-productivity soils. Breakeven prices are critical for producers to make crop and marketing decisions.

Read more on 2024 breakeven prices here.