Rising input costs have taken a toll on farm operations, and they are not the only expense weighing on producers. Overhead costs are up, and Illinois corn farmers could see them rise further next year.
The University of Illinois found overhead costs for corn production in the state have been on an upward trend for the last two decades, doubling from 2004 though last year. Now, they are expected to keep rising into 2024.
Labor and interest rates are mostly to blame, making up around half of the total overhead. Researchers say while rates may lower in 2025, a challenging labor market will likely drive those costs higher for producers.
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