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Farm incomes expected to continue decline in 2025

A professor of farm management at the University of Illinois says the latest projections show farm incomes continuing to decline in 2025.

Gary Schnitkey tells Brownfield…

“That’s primarily because we continue to have high costs and also lower prices than in 2021 and 2022,” he says.

He says some non-land costs are projected to decline slightly next year.

“All the other costs are pretty much staying where they’re at, except for our fertilizer cost, which led by nitrogen, we’re projecting to come down into 2025,” he says.

However, Schnitkey says it still adds up to break evens below projected commodity prices.

“We’re projecting a break-even price for corn of $4.60, for soybeans of $11.05.”  He says, “If you’re looking at prices right now for fall delivery in 2025, they’re lower than that. So again, we’re projecting losses.”

A link to further details can be found HERE.

AUDIO: Gary Schnitkey – U of I

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