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University of Illinois and Ohio State economists updated their 2022 crop budgets, showing corn and soybean production costs at record highs. They still project positive returns because of high expected corn and soybean prices, and they note that Illinois farmers are not planning to add corn acres because of nitrogen price and supply risk.
Record input costs can limit acreage response and tighten supply, but high projected prices keep planting incentives intact, so the net price effect is modest.
farmdocdaily.illinois.eduHongxia JiaoApr 12, 2022After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
