UPDATED 01/21/2014
Crop budgets vary greatly by operation! Prices and cost estimates are averages collected from
retailers across the state. Input prices will vary by crop, management, region, varieties and other
criteria and may not be reflective of YOUR true costs.
Assumptions in Analysis:
- Land charge of $98. Purchase price is not included.
- Operating expenses borrowed at 8.5% interest for 5 months of expenses.
- Fertility rates based on MCE SFM-1 guidelines
- Assuming medium fertility levels
- Fixed costs are calculated with MD Custom Rates (2013)
- You should use your actual fixed costs
- Crop insurance quotes. Actuals will not be set until March.
Budgeting Recommendations:
- Create your own budgets and fixed costs including equipment, repairs, insurance, depreciation, interest
and taxes
- Write and implement a farm business plan - setting goals, managing finances and develop markets
- Manage capital assets such as land and equipment
- Track your expenses and at the end of the year reconcile
Using This Spreadsheet
- This workbook is designed to be updated very easily. Click on the INPUTS worksheet and make changes.
This will automatically update changes on other worksheets (i.e. N changes from .47 to .54 update it on the
inputs page and it automatically updates all N prices for the 5 crops)
- Be sure to save changes periodically and use the date in the title to mark when the budget was prepared.
Questions Contact: Shannon Dill, 410-822-1244 or sdill@umd.edu
www.extension.umd.edu/grainmarketing
Budgets were developed by Ben Beale, Francis Breeding, Shannon Dill, Dale Johnson, Jim Lewis and Jenny
Rhodes
EQUAL ACCESS PROGRAMS
UNIT
YEAR
INCOME
CORN
SOYBEANS
WHEAT
EXPENSES
BUSHEL
BUSHEL
BUSHEL
SEED
CORN CONVENTIONAL
1,000 SEEDS
CORN ROUNDUP READY & BT
1,000 SEEDS
SOYBEAN
1,000 SEEDS
SOYBEAN RR II
1,000 SEEDS
WHEAT
POUND
FERTILIZER
NITROGEN
POUND
PHOSPHORUS
POUND
POTASH
POUND
LIME
TON
PESTICIDES
2 4-D
QUART
ATRAZINE
QUART
GRAMOXONE INTEON
PINT
HARMONY
OUNCE
LUMAX
QUART
OSPREY
OUNCE
ROUNDUP
QUART
TILT
OUNCE
TOUCHDOWN
QUART
WARRIOR
OUNCE
OTHER
SOIL TEST
ACRE
CROP INSURANCE - Corn
ACRE
CROP INSURANCE - Corn Irrigated ACRE
CROP INSURANCE - Soybeans
ACRE
CROP INSURANCE - Wheat
ACRE
DRYING FUEL
BUSHEL
FIXED COSTS - 2013 Custom Rates
STALK CHOPPING
ACRE
CHISEL PLOWING
ACRE
DISKING
ACRE
FIELD CULTIVATOR/FINISHER ACRE
VERTICAL TILLAGE
ACRE
FERTILIZER SPREADING
ACRE
SIDEDRESSING
ACRE
MANURE LOADING
TON
MANURE SPREADING - LITTER TON
MANURE HAULING
TON
PESTICIDE SPRAYING
ACRE
NOTILL DRILLING
SMALL GRAIN
ACRE
PLANTING
CORN - Conventional
ACRE
CORN - NoTill
ACRE
SOYBEAN - Conventional
ACRE
SOYBEAN - NoTill
ACRE
BROADCAST SEEDING
ACRE
HARVESTING
CORN
ACRE
SOYBEAN
ACRE
WHEAT
ACRE
HAULING
BUSHEL
LAND CHARGE
ACRE
PRICE
2014
NOTES
$4.54 Dec 14
$11.24 Nov 14
$5.79 Jul 14
PRICE CHANGE
2013
$5.89
$13.02
$7.88
$1.35
$1.78
$2.09
$1.56
$2.00
$0.24
$0.36
$0.28
$1.56
$2.00
$0.24
$0.36
$0.28
$0.00
$0.00
$0.00
$0.00
$0.00
$0.42
$0.65
$0.36
$45.00
$0.70
$0.50
$0.49
$30.00
$0.28
-$0.15
$0.13
-$15.00
$3.75
$3.75
$3.37
$11.00
$10.75
$3.03
$4.75
$1.93
$4.75
$1.95
$3.75
$3.75
$3.37
$12.50
$10.75
$3.03
$7.71
$1.93
$7.50
$2.34
$0.00
$0.00
$0.00
$1.50
$0.00
$0.00
$2.96
$0.00
$2.75
$0.39
$0.30
$25.49
$27.79
$14.90
$13.15
$0.40
$0.00
$3.71
$0.97
-$9.54
$1.18
$0.00
$16.88
$19.37
$21.34
$14.50
$18.41
$8.78
$10.87
$11.25
$13.71
$14.56
$8.99
$16.88
$19.37
$21.34
$14.50
$18.41
$8.78
$10.87
$11.25
$13.71
$14.56
$8.99
$22.07
$22.07
$20.70
$21.56
$21.11
$22.07
$21.71
$20.70
$21.56
$21.11
$22.07
$21.71
$32.45
$32.41
$32.01
$0.15
$98.00
$32.45
$32.41
$32.01
$0.15
$98.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.30
$21.78
$26.82
$24.44
$11.97
$0.40
2014 Rate
2014 Rate
2014 Rate
2014 Rate
CORN GRAIN, NO-TILL NON-IRRIGATED
PER ACRE FOR
UNIT
QUANTITY
2014
ITEM
GROSS INCOME
CORN GRAIN
VARIABLE COSTS
SEED RR
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
LIME
LUMAX
ATRAZINE
ROUNDUP
PRICE
TOTAL
BUSHEL
150
$4.54
$681.00
1000 SEEDS
ACRE
POUND
POUND
POUND
TON
QUART
QUART
QUART
28
1
150
30
60
0.5
2.5
0.5
1
$2.00
0.30
0.42
0.65
0.36
45.00
10.75
3.75
4.75
$56.00
0.30
63.00
19.50
21.60
22.50
26.88
1.88
4.75
CROP INSURANCE (RP 75%)
ACRE
1
21.78
21.78
DRYING FUEL
BUSHEL
150
0.36
54.00
INTEREST ON OPERATING CAPITAL
$216.40
0.5
8.5%
9.20
TOTAL VARIABLE COSTS LISTED ABOVE
$301.38
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER SPREADING
NO-TILL PLANTING WITH FERTILIZER
NITROGEN APPLICATION
PESTICIDE APPLICATIONS
HARVESTING
HAULING
INTEREST ON SPRING CUSTOM CHARGES
ACRE
ACRE
ACRE
ACRE
ACRE
BUSHEL
50.20
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
112.5
150
187.5
1
1
1
1
1
150
0.5
8.78
21.56
10.87
8.99
32.45
0.15
8.5%
1
$3.41
($123.60)
$4.09
$131.78
98.00
PRICES
$4.54
$4.09
$174.34
$344.59
Assumptions:
Non-continuous corn so soil insecticide may not be necessary.
If following beans add 20 lb N credit
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Bt seed corn, hybrid, mid price grade
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
CORN GRAIN NO TILL
8.78
21.56
10.87
8.99
32.45
22.50
2.13
98.00
$205.28
$506.66
$174.34
$5.68
$131.78
$344.59
$557.40
CORN GRAIN, CONVENTIONAL NON-IRRIGATED
UNIT
PER ACRE FOR
QUANTITY
2014
ITEM
GROSS INCOME
CORN GRAIN
VARIABLE COSTS
SEED
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
LIME
LUMAX
ATRAZINE
PRICE
TOTAL
BUSHEL
150
$4.54
$681.00
1000 SEEDS
ACRE
POUND
POUND
POUND
TON
QUART
QUART
28
1
150
30
60
0.5
2.5
0.5
$1.56
0.30
0.42
0.65
0.36
45.00
10.75
3.75
$43.68
0.30
63.00
19.50
21.60
22.50
26.88
1.88
CROP INSURANCE (RP 75%)
ACRE
1
21.78
21.78
DRYING FUEL
BUSHEL
150
0.36
54.00
INTEREST ON OPERATING CAPITAL
$199.33
0.5
8.5%
8.47
TOTAL VARIABLE COSTS LISTED ABOVE
$283.58
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
CHISEL PLOWING
ACRE
1
$19.37
$19.37
DISKING
ACRE
1
21.34
21.34
FIELD CULTIVATOR/FINISHER
ACRE
1
14.50
14.50
FERTILIZER SPREADING
ACRE
1
8.78
8.78
PLANTING WITH FERTILIZER
ACRE
1
20.70
20.70
NITROGEN APPLICATION
ACRE
1
10.87
10.87
PESTICIDE APPLICATIONS
ACRE
1
8.99
8.99
HARVESTING
ACRE
1
32.45
32.45
HAULING
BUSHEL
150
0.15
22.50
INTEREST ON SPRING CUSTOM CHARGES
$104.55
0.5
8.5%
4.44
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
112.5
150
187.5
1
$3.41
($162.46)
($34.77)
$92.91
98.00
PRICES
$4.54
($34.77)
$135.48
$305.73
Assumptions:
Non-continuous corn so soil insecticide may not be necessary.
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Bt seed corn, hybrid, mid price grade
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
CORN GRAIN CONVENTIONAL NON-IR
98.00
$261.94
$545.52
$135.48
$5.68
$92.91
$305.73
$518.54
CORN GRAIN, NO-TILL IRRIGATED
ITEM
GROSS INCOME
CORN GRAIN
VARIABLE COSTS
SEED RR
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
LIME
LUMAX
ATRAZINE
ROUNDUP
PER ACRE FOR
UNIT
QUANTITY
PRICE
2014
TOTAL
BUSHEL
200
$4.54
$908.00
1000 SEEDS
ACRE
POUND
POUND
POUND
TON
QUART
QUART
QUART
32
1
200
45
100
0.5
2.5
0.5
1
$2.00
0.30
0.42
0.65
0.36
45.00
10.75
3.75
4.75
$64.00
0.30
84.00
29.25
36.00
22.50
26.88
1.88
4.75
1
26.82
CROP INSURANCE (RP 75%)
ACRE
DRYING FUEL
IRRIGATION EXPENSE (eletric, fuel, etc)
IRRIGATION REPAIR & MAINTENANCE
BUSHEL
INCH
ACRE
200
10
1
0.40
7.78
10.00
26.82
0.00
80.00
77.80
10.00
INTEREST ON OPERATING CAPITAL
$269.55
0.5
8.5%
11.46
TOTAL VARIABLE COSTS LISTED ABOVE
$475.63
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER SPREADING
ACRE
1
8.78
8.78
NO-TILL PLANTING WITH FERTILIZER
ACRE
1
21.56
21.56
NITROGEN APPLICATION
ACRE
1
10.87
10.87
PESTICIDE APPLICATIONS
ACRE
1
8.99
8.99
HARVESTING
ACRE
1
32.45
32.45
HAULING
BUSHEL
200
0.15
30.00
INTEREST ON SPRING CUSTOM CHARGES
50.20
0.5
8.5%
2.13
IRRIGATION PAYMENT (including interest)
ACRE
1
150.00
150.00
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
150
200
250
1
$3.41
($327.66)
($157.41)
$12.84
98.00
PRICES
$4.54
($157.41)
$69.59
$296.59
Assumptions:
Non-continuous corn so soil insecticide may not be necessary.
If following beans add 20 lb N credit
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Bt seed corn, hybrid, mid price grade
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
Average variable cost for irrigation (electric, diesel, gas) = $7.78/inch
Average variable cost for irrigation (repair/maintenance) = $10/acre
Average fixed cost (irrigation payments) =~$150/acre
CORN GRAIN - IRRIGATED
98.00
$362.78
$838.41
$69.59
$5.68
$12.84
$296.59
$580.34
CORN GRAIN, NO-TILL, POULTRY LITTER
UNIT
PER ACRE FOR
QUANTITY
PRICE
2014
TOTAL
ITEM
GROSS INCOME
CORN GRAIN
VARIABLE COSTS
SEED RR
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
POULTRY LITTER 70.44-59.42-46.86 lbs/ton
LIME
LUMAX
ATRAZINE
ROUNDUP
BUSHEL
150
$4.54
$681.00
1000 SEEDS
ACRE
POUND
POUND
POUND
TON
TON
QUART
QUART
QUART
28
1
80
0
0
2
0.5
2.5
0.5
1
$2.00
0.30
0.42
0.65
0.36
12.00
45.00
10.75
3.75
4.75
$56.00
0.30
33.60
0.00
0.00
24.00
22.50
26.88
1.88
4.75
CROP INSURANCE (RP 75%)
ACRE
1
21.78
21.78
DRYING FUEL
BUSHEL
150
0.40
60.00
INTEREST ON OPERATING CAPITAL
$169.90
0.5
8.5%
7.22
TOTAL VARIABLE COSTS LISTED ABOVE
$258.90
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
MANURE HAULING
TON
2
14.56
29.12
MANURE LOADING
TON
2
11.25
22.50
MANURE SPREADING - LITTER
TON
2
13.71
27.42
MINIMAL TILLAGE
ACRE
1
18.41
18.41
NO-TILL PLANTING
ACRE
1
21.56
21.56
NITROGEN APPLICATION
ACRE
1
10.87
10.87
PESTICIDE APPLICATIONS
ACRE
1
8.99
8.99
HARVESTING
ACRE
1
32.45
32.45
HAULING
BUSHEL
150
0.15
22.50
INTEREST ON SPRING CUSTOM CHARGES
109.75
0.5
8.5%
4.66
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
112.5
150
187.5
1
$3.41
($172.32)
($44.64)
$83.05
98.00
PRICES
$4.54
($44.64)
$125.61
$295.86
Assumptions:
Non-continuous corn so soil insecticide may not be necessary.
If following beans add 20 lb N credit
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Bt seed corn, hybrid, mid price grade
Poultry litter estimates - Economic Value of Poultry Litter 2002. Lichtenberg, Parker, Lynch.
Litter will provide nitrogen availability at year 2 20% and year 3 5%
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
CORN GRAIN NO TILLwLITTER
98.00
$296.48
$555.39
$125.61
$5.68
$83.05
$295.86
$508.68
SOYBEANS RR READY
ITEM
GROSS INCOME
SOYBEANS
VARIABLE COSTS
SEED
SOIL TESTING
PER ACRE FOR
UNIT
2014
PRICE
TOTAL
40
$11.24
$449.60
1000 SEEDS
ACRE
150
1
$0.36
0.30
$54.00
0.30
PHOSPHATE
POTASH
LIME
GRAMOXONE INTEON
ROUNDUP
WARRIOR
POUND
POUND
TON
PINT
QUART
OUNCE
45
40
0.5
2
1
3
0.65
0.36
45.00
3.37
4.75
1.95
29.25
14.40
22.50
6.74
4.75
5.85
CROP INSURANCE (RP 75%)
ACRE
1
24.44
24.44
0.5
8.5%
5.86
INTEREST ON OPERATING CAPITAL
BUSHEL
QUANTITY
$137.79
TOTAL VARIABLE COSTS LISTED ABOVE
$168.09
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER APPLICATION
ACRE
1
8.78
8.78
SOYBEAN - NoTill
ACRE
1
22.07
22.07
PESTICIDE APPLICATIONS
ACRE
3
8.99
26.97
HARVESTING
ACRE
1
32.41
32.41
HAULING
BUSHEL
40
0.15
6.00
INTEREST ON SPRING CUSTOM CHARGES
$57.82
0.5
8.5% $
2.46
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
30
40
50
1
98.00
$8.43
($111.87)
($27.57)
$56.73
PRICES
$11.24
($27.57)
$84.83
$197.23
Assumptions
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Local hauling within 30 miles of farm
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
SOYBEANS
98.00
$196.69
$364.77
$84.83
$14.05
$56.73
$197.23
$337.73
WHEAT
PER ACRE FOR
UNIT
QUANTITY
2014
ITEM
GROSS INCOME
WHEAT
VARIABLE COSTS
SEED
SOIL TESTING
NITROGEN
PHOSPHATE
POTASH
LIME
PRICE
BUSHEL
75
$5.79
$434.25
POUND
ACRE
POUND
POUND
POUND
TON
150
1
70
40
40
0.5
$0.28
0.30
0.42
0.65
0.36
45.00
$42.45
0.30
29.40
26.00
14.40
22.50
HARMONY GT XP
TILT
WARRIOR
OSPREY
OUNCE
OUNCE
OUNCE
OUNCE
0.5
4
3
4.75
11.00
1.93
1.95
3.03
5.50
7.72
5.85
14.39
CROP INSURANCE (RP 75%)
ACRE
1.00
11.97
TOTAL
11.97
INTEREST ON OPERATING CAPITAL
$168.51
0.5
8.5%
7.16
TOTAL VARIABLE COSTS LISTED ABOVE
$187.64
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
SPREADING FERTILIZER
ACRE
2
$8.78
$17.56
VERTICAL TILLAGE
ACRE
2
18.41
36.82
BROADCAST SEEDING
ACRE
1
22.07
22.07
PESTICIDE APPLICATION
ACRE
2
8.99
17.98
HARVESTING
ACRE
1
32.01
32.01
HAULING
BUSHEL
75
0.15
11.25
INTEREST ON FALL CUSTOM CHARGES
$94.43
0.5
8.5%
4.01
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS
56.25
75
93.75
1
98.00
$4.34
($183.08)
($101.66)
($20.24)
PRICES
$5.79
($101.66)
$6.90
$115.46
Assumptions
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
Sensitivity analysis based on 75%,100% and 125% of typical yield and current forward contract price.
WHEAT
98.00
$239.70
$427.35
$6.90
$7.24
($20.24)
$115.46
$251.17
WHEAT/SOYBEAN DOUBLE CROP
ITEM
GROSS INCOME
WHEAT
SOYBEANS
TOTAL GROSS INCOME
VARIABLE COSTS
SEED-WHEAT
SEED-SOYBEANS
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
LIME
HARMONY GT XP
OSPREY
SURFACTANT
TILT
WARRIOR
GRAMOXONE INTEON
ROUNDUP
CROP INSURANCE-WHEAT (RP 75%)
CROP INSURANCE-BEANS (RP 75%)
PER ACRE FOR
UNIT
QUANTITY
BUSHEL
BUSHEL
75
25
POUND
1000 SEEDS
ACRE
POUND
POUND
POUND
TON
OUNCE
OUNCE
QUART
OUNCE
OUNCE
PINT
QUART
ACRE
ACRE
150
175
1
70
85
75
0.5
0.5
4.75
1
4
6
3
1
1.00
1.00
PRICE
$5.79
$11.24
$0.28
0.36
0.30
0.42
0.65
0.36
45.00
11.00
3.03
2.25
1.93
1.95
3.37
4.75
11.97
24.44
2014
TOTAL
$434.25
$281.00
$715.25
$42.45
63.00
0.30
29.40
55.25
27.00
22.50
5.50
14.39
2.25
7.72
11.70
10.11
4.75
11.97
24.44
INTEREST ON OPERATING CAPITAL
$296.32
0.50
8.5%
12.59
TOTAL VARIABLE COSTS LISTED ABOVE
345.33
NET INCOME OVER VARIABLE COSTS LISTED ABOVE
$369.92
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER SPREADING
ACRE
2
8.78
17.56
VERTICAL TILLAGE
ACRE
2
18.41
36.82
BROADCAST SEEDING
ACRE
1
21.71
21.71
NOTILL DRILLING
ACRE
1
22.07
22.07
PESTICIDE APPLICATION
ACRE
4
8.99
35.96
HARVESTING
ACRE
2
32.01
64.02
HAULING
BUSHEL
100
0.15
15.00
INTEREST ON FALL/SPRING CUSTOM CHARGE
$134.12
0.5
8.5%
5.70
LAND CHARGE
ACRE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
1
WHEAT
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
Sensitivity Analysis based on soybeans/wheat yield and price
BEAN
56
75
94
19
25
31
98.00
PRICES
$4.34
$8.43
($259.84)
($125.73)
$8.38
Assumptions
Local hauling within 30 miles of farm
Fertility rates based on MCE SFM-1 guidelines
Assuming medium fertility levels
1 Post-plant bean glyphosate application
Sensitivity analysis based on 75%,100% and 125% of yield of beans and current forward contract price of beans/wheat.
WHEAT SOYBEAN DOUBLE CROP
98.00
$316.84
$662.17
$53.08
$5.79
$11.24
($125.73)
$53.08
$231.90
$7.24
$14.05
$8.38
$231.90
$455.41
CROP:
ITEM
YEAR:
UNIT
QUANTITY
PRICE
TOTAL
GROSS INCOME
VARIABLE COSTS
SEED
SOIL TEST
NITROGEN
PHOSPHATE
POTASH
LIME
PESTICIDES
CROP INSURANCE
DRYING FUEL
INTEREST ON OPERATING CAPITAL
TOTAL VARIABLE COSTS LISTED ABOVE
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
LAND CHARGE
TOTAL FIXED COST LISTED ABOVE
TOTAL VARIABLE AND FIXED COST LISTED ABOVE
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE
Cost Per Acre
Corn - No Till
Corn - Conventional
2007
$362.40
$379.40
2008
$470.72
$515.34
2009
$521.49
$539.81
2010
$525.26
$530.09
2011
$568.66
$569.32
2012
$572.54
$573.21
2013
$552.86
$588.64
2014
$506.66
$545.52
** Historical Chart is based on prices in the January - March of each year
Soybeans
$234.26
$307.12
$410.69
$405.77
$348.06
$355.69
$350.10
$364.77
Wheat
$309.27
$390.14
$406.20
$407.26
$436.75
$433.19
$442.31
$427.35
Wheat/Beans
$395.89
$562.34
$630.51
$640.60
$653.83
$655.56
$669.60
$662.17
COST PER ACRE
$700.00
$600.00
2007
$500.00
2008
2009
$400.00
2010
$300.00
2011
$200.00
2012
2013
$100.00
2014
$0.00
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Cost Per Acre
2014
Corn - No Till
Corn - Conventional
$506.66
$545.52
Soybeans
$364.77
Wheat
$427.35
Cost Per Acre 2014
$655.56
$700.00
$600.00
$500.00
$506.66
$545.52
$364.77
$400.00
$427.35
$300.00
$200.00
$100.00
$0.00
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Wheat/Beans
Wheat/Beans
$655.56
Cost Per Acre
2010
Corn - No Tillorn - Convention
$525.26
$530.09
Soybeans
$405.77
Wheat
$407.26
Wheat/Beans
$640.60
Cost Per Acre 2010
$700.00
$600.00
$500.00
$400.00
$300.00
$200.00
$100.00
$0.00
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Wheat/Beans
Cost Per Acre
2011
Soybeans
$348.06
Cost Per Acre 2011
$700.00
$600.00
Corn - No Tillorn - Convention
$568.66
$569.32
$568.66
Wheat
$436.75
$653.83
$569.32
$500.00
$436.75
$348.06
$400.00
$300.00
$200.00
$100.00
$0.00
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Wheat/Beans
Wheat/Beans
$653.83
Cost Per Acre
2012
$800.00
$572.54
$600.00
Corn - No Tillorn - Convention
$572.54
$573.21
$573.21
Soybeans
$355.69
Cost Per Acre 2012
$355.69
$400.00
Wheat
$433.19
Wheat/Beans
$655.56
$655.56
$433.19
$200.00
$0.00
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Wheat/Beans
Cost Per Acre
2013
$700.00
$600.00
$500.00
$400.00
$300.00
$200.00
$100.00
$0.00
$552.86
Corn - No Tillorn - Convention
$552.86
$588.64
$588.64
Soybeans
$350.10
Cost Per Acre 2013
Wheat
$442.31
Wheat/Beans
$669.60
$669.60
$442.31
$350.10
Corn - No Till
Corn - Conventional
Soybeans
Wheat
Wheat/Beans