What We Know About Income Outlook for Crop Farms Given COVID-19

Gary Donald Schnitkey, Krista Joy Swanson, Nicholas D Paulson, Carl R. Zulauf, Jonathan W Coppess

Research output: Contribution to specialist publicationArticle


Income prospects have been diminished for Illinois grain farms because of the COVID-19 crisis. Expectations are for lower prices to remain after COVID-19, which will lower crop revenues for 2020. Increased commodity title payments could partially offset crop revenue declines, and some non-land costs could decrease. However, the expected price declines have larger impacts than any increase in commodity title payments or decreases in expenses. Given current expected prices, a combination of above-trend yields or government aid is needed to get incomes at levels where financial deterioration does not occur.
Original languageEnglish (US)
Specialist publicationfarmdoc daily
Publisher Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign
StatePublished - Mar 24 2020


  • Coronavirus
  • COVID-19
  • 2019-nCoV
  • novel coronavirus
  • virus


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