Trends in Input Costs for Corn and Soybean Production in Illinois

Nick Paulson, Carl Zulauf and Gary Schnitkey

farmdoc daily, 2025, vol. 14, issue 82

Abstract: The costs of fertilizer, seed, and pesticide inputs have increased by 6-7% annually for corn and 4-6% annually for soybeans since the 2000 crop year. Input costs have, in general, followed patterns in commodity prices and farm returns. Fertilizers have been the most variable input cost, increasing more rapidly during the high income era from 2007 to 2013, returning to lower levels from 2014 to 2019, and then increasing to record levels through 2023. Seed costs experienced the most growth during the high income era which is also when the adoption of genetically engineered seed varieties on corn and soybean acres grew to their current levels. Pesticide costs generally increased more gradually from 2000 until 2020 but have increased more significantly in recent years as weed resistance and disease pressures have increased along with price increases associated with pandemic-related supply chain issues.

Keywords: Agribusiness; Costs of Production; Weekly Farm Economics (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ags:illufd:358524

DOI: 10.22004/ag.econ.358524

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