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Wrapping it Up. The USDA cost of production estimates suggest that 2016 input costs will be similar to 2015. With prices at current levels, this would mean another challenging year for many farmers.or instance, at the estimated trend yield of 166 bushels per acre for corn the costs of production would be $4.11 per bushel. Using this approach soybeans and wheat come in at costs of $10.65 and $6.50 per bushel respectively.
In 2013, the total of all economic costs per acre for growing corn in Illinois averaged $1,033 in the northern section, $966 in the central section for farmland with high soil ratings, $951 in the central section for farmland with low soil ratings, and $872 in the southern section.n 2013, cash costs accounted for 49 percent of the total cost of production for corn, other nonland costs were 25 percent, and land costs were 26 percent. The average corn yield for all combined areas of the state was 192 bushels per acre resulting in a total cost of production of $5.03 per bushel.