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Extension > Agriculture > Agricultural Business Management > Crop budgets > 2017 Central Minnesota crop budgets

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2017 Central Minnesota crop budgets

Pauline Van Nurden

Corn budget

Income 10 year average 2015 actual 2017 projected
Yield (per unit) 158 191 170
Value ($ per unit) $4.30 $3.46 $3.25
Total production return/acre $679 $661 $553
Misc. income/acre $43 $11 $5
Gross return/acre $772 $672 $558
Expenses (per acre)
Seed $89 $110 $105
Fertilizer $127 $143 $125
Crop chemicals $25 $33 $35
Crop insurance $21 $21 $18
Machinery costs $125 $150 $122
Other expenses $71 $85 $75
Total expenses (without rent) $458 $542 $480
Available for land rent & operator living $264 $130 $78
Average land rent cost (area avg.) $134 $181 $??
Average labor & management charge (area avg.) $43 $49 $??

Soybean budget

Income 10 year average 2015 actual 2017 projected
Yield (per unit) 42 51 45
Value ($ per unit) $9.96 $8.61 $9.00
Total production return/acre $418 $439 $405
Misc. income/acre $19 $10 $5
Gross return/acre $437 $449 $410
Expenses (per acre)
Seed $46 $59 $60
Fertilizer $12 $16 $15
Crop chemicals $27 $42 $45
Crop insurance $18 $19 $19
Machinery costs $84 $89 $87
Other expenses $36 $45 $45
Total expenses (without rent) $223 $270 $271
Available for land rent & operator living $214 $179 $139
Average land rent cost (area avg.) $125 $173 $??
Average labor & management charge (area avg.) $29 $28 $??

Wheat budget

Income 10 year average 2015 actual 2017 projected
Yield (per unit) 52 62 58
Value ($ per unit) $6.18 $4.87 $5.00
Total production return/acre $321 $302 $290
Misc. income/acre $21 $25 $10
Gross return/acre $342 $327 $300
Expenses (per acre)
Seed $22 $26 $22
Fertilizer $74 $89 $85
Crop chemicals $18 $21 $25
Crop insurance $13 $10 $14
Machinery costs $68 $84 $80
Other expenses $30 $40 $33
Total expenses (without rent) $225 $270 $259
Available for land rent & operator living $117 $57 $41
Average land rent cost (area avg.) $89 $123 $??
Average labor & management charge (area avg.) $23 $28 $??

Hay budget

Income 10 year average 2015 actual 2017 projected
Yield (per unit) 4.3 4.5 4
Value ($ per unit) $146 $161 $150.00
Total production return/acre $626 $725 $600
Misc. income/acre $(0) $12 $-
Gross return/acre $626 $736 $600
Expenses (per acre)
Seed** $1 $- $5
Fertilizer $36 $38 $45
Crop chemicals $8 $12 $15
Machinery costs $176 $167 $175
Other expenses $68 $82 $100
Total expenses (without rent) $289 $299 $340
Available for land rent & operator living $337 $437 $260
Average land rent cost (area avg.) $104 $145 $??
Average labor & management charge (area avg.) $39 $41 $??

**Assumes established hay ground - alfalfa stand establishment (seed cost) is approximately $112 per acre on average.

Statewide irrigated corn budget

Income 10 year average 2015 actual 2017 projected
Yield (per unit) 178 195 185
Value ($ per unit) $4.21 $3.40 $3.25
Total production return/acre $749 $663 $601
Misc. income/acre $37 $115 $5
Gross return/acre $786 $778 $606
Expenses (per acre)
Seed $88 $102 $105
Fertilizer $138 $146 $125
Crop chemicals $29 $35 $35
Crop insurance $20 $20 $18
Machinery costs $147 $168 $160
Other expenses $114 $134 $98
Total expenses (without rent) $536 $605 $541
Available for land rent & operator living $250 $173 $65
Average land rent cost (area avg.) $139 $164 $??
Average labor & management charge (area avg.) $43 $50 $??

Projected budget data for the 2017 crop year. No representation intended for final 2017 production or cost figures. This budget should be used as a guide only for educational uses.

Machinery costs include: Fuel, repairs, machine leases, custom hire, machinery depreciation, and intermediate interest costs.

Other expenses include: Drying fuel, operating interest, hired labor, utilities, building depreciation, long-term interest, and misc. expenses.

No representation of FSA farm program payments is made in the estimated projection (for ARC or PLC payments). These values vary dramatically between counties and year and is received at the end of the marketing year. Feel free to use a government payment value in the other income category, if you so choose, in your estimate.

Estimated data and actual 2015 figures come from Finbin.

2016

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