There is a belief out there that larger farms often have lower costs per acre, and some researchers say that is a common misconception.
Economists with the University of Illinois say that while that might be true in some cases, there are many variables to consider. The numbers show that your location plays a big role, and researchers say it is important to benchmark within geographic context.
They suggest doing a regular study of the operation, including a deep dive into records as well as analyzing trends.
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Input costs are top of mind for farmers, as they contribute to higher prices and smaller profits.
The President’s trip to Asia this week follows a trade mission by the Iowa Soybean Association. Farmers say they were reminded that U.S. soybeans have an international reputation that can be easy to take for granted here at home.
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