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Economics

International Benchmarks for Soybean Production

This farmdoc article analyzes yield, gross revenue, and costs across soybean farms in Argentina, Brazil, Russia, Ukraine, and the United States, finding notably higher figures for U.S. farms. Overall, the period from 2018 to 2022 was profitable for soybean production across most farms, except for the typical farm in Canada, exhibiting a positive economic profit.

By |March 18, 2024|

Farm Policy and the Brief Saga of Soybeans, Part 2

From farmdoc: Jonathan Coppess provides a regional overview of soybean adoption by American farmers, spanning over a century. He explains how the pace of adoption and the changes in crop rotations were not uniform among the states and crops.

By |January 23, 2024|

Comparing Direct Costs of Soybean Production in the United States and Brazil

The direct costs of soybean production in the Brazilian State of Mato Grosso have increased at a similar rate to those in Illinois since 2016. Direct input costs in Brazil reached record levels for the 2022/2023 crop season and are projected to decline for the 2023/2024 crop season. Overall, the direct costs to produce soybeans have been higher in Mato Grosso than in Illinois. Today’s article compares trends in the direct costs of soybean production in major production regions of Brazil and the United States, the world’s largest soybean producers and exporters.

By |December 6, 2023|

The Rising Costs of Soybean Production in Illinois

Since 2000, the direct costs associated with soybean production in central Illinois have increased at an average annual rate of 5.4%. The costs associated with primary inputs have grown at average annual rates slightly above the total direct cost average, while other direct costs have increased at average annual rates slightly below the direct cost average.

By |November 19, 2023|
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