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Extension > Agriculture > Agricultural Business Management > Crop budgets > 2016 Southern Minnesota corn and soybean budgets

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2016 Southern Minnesota corn and soybean budgets

David Bau

Minnesota corn 2016 budget

Corn budget Southern MN FINBIN data Range in value 2005-2014 Average
05-2014
Actual 2014 Trend 2015 Trend
2016
Forecast 2016
Yield per acre (bu.) 190.50 157.85 174.90 162.84 160.63 158.42 175
Value per bu. 6.50 2.03 4.15 3.93 4.12 4.31 3.50
Total product return per acre 1157.23 376.24 721.95 641.03 667.51 693.99 612.50
Miscellaneous income per acre 152.66 -1.81 40.88 152.66 164.08 175.50 0
Gross return per acre 1182.77 414.69 762.84 793.83 831.74 869.66 612.50
Direct Expenses
Seed 126.68 50.02 89.06 126.68 134.35 142.01 123
Fertilizer 188.83 64.31 129.76 164.85 174.90 184.96 150
Crop chemicals 34.68 22.19 27.39 34.68 35.70 36.73 34
Crop insurance 27.13 9.55 19.99 22.73 24.05 25.37 26
Drying fuel 36.57 5.50 15.78 22.15 23.15 24.15 22
Fuel & oil 36.41 17.85 28.17 35.3 37.05 38.79 36
Repairs 47.98 23.32 37.21 44.71 46.85 48.99 48
Custom hire 11.00 3.76 8.01 11 11.72 12.45 10
Hired labor 4.54 0.61 2.19 4.54 4.99 5.45 4
Land rent 243.47 110.40 167.84 241.36 254.46 267.55 210
Machinery & bldg leases 4.31 1.07 2.42 4.31 4.61 4.92 4
Utilities 1.39 0.99 0.67 1.39 1.54 1.70 1
Marketing 5.77 0.90 2.66 5.77 6.26 6.74 4
Operating interest 15.14 8.66 11.14 10.74 10.95 11.16 10
Miscellaneous 5.88 2.12 3.48 2.71 2.77 2.83 3
Total direct expenses per acre 755.44 328.74 545.99 732.92 773.34 813.76 685.00
Return over direct exp per acre 508.11 60.91 216.85 60.91 58.41 55.90 -72.50
Overhead Expenses
Custom hire 3.04 1.74 2.32 0 -$0.17 -$0.35 0
Hired labor 12.94 6.16 9.38 11.29 $11.80 $12.32 13
Machinery & bldg leases 8.26 4.34 6.04 6.41 $6.62 $6.82 8
Farm insurance 10.19 4.44 6.72 10.19 $10.77 $11.34 10
Utilities 5.5 3.04 4.22 5.5 $5.75 $5.99 6
Dues & professional fees 3.93 1.05 2.53 3.93 $4.22 $4.51 4
Interest 8.28 5.85 7.41 7.15 $7.28 $7.41 8
Mach & bldg depreciation 61.56 24.4 42.20 61.56 $65.28 $68.99 61
Miscellaneous 9.61 4.73 7.22 7.59 $7.88 $8.16 10
Total overhead expenses per acre 117.46 55.76 86.27 113.62 $119.41 $125.19 120
Total dir & ovhd expenses per acre 872.9 384.5 632.26 846.54 $892.74 $938.95 805
Net return per acre 404.13 -52.71 130.56 -52.71 -$61.00 -$69.29 -192.5
Lbr & mgmt charge per acre 59.78 30.48 46.49 54.03 $55.71 $57.39 60
Net return over lbr & mgt 345.46 -106.74 93.38 -106.74 -$124.15 -$141.57 -252.5
Government payments 31.88 2.28 20.12 2.28 -$0.44 -$3.16 65
Net return with gov't payments 363.69 -104.46 107.60 -104.46 -$118.70 -$132.94 -187.5
Cost of Production
Total direct expense per bu. $4.49 $1.78 3.09 $3.93 $4.15 $4.36 3.91
Total dir & ovhd exp per bu. $5.20 $2.08 3.65 $5.20 $5.51 $5.82 4.60
With labor & management $5.55 $1.83 3.78 $5.53 $5.90 $6.27 4.94
Total exp less govt & oth income $4.78 $1.67 3.44 $4.57 $4.86 $5.15 4.57

Minnesota soybean 2016 budget

Soybean budget Southern MN FINBIN data Range in value 2005-2014 Average
05-2014
Actual 2014 Trend 2015 Trend
2016
Forecast 2016
Yield per acre (bu.) 53.11 40.61 48.37 46.92 46.30 45.68 47
Value per bu. 13.77 5.65 9.94 10.15 10.60 11.05 9.00
Total product return per acre 678.19 299.97 476.17 476.28 493.91 511.54 423
Miscellaneous income per acre 58.67 3.82 19.73 51.20 55.77 60.33 0
Gross return per acre 693.11 304.43 495.79 527.48 549.79 572.09 423
Direct Expenses
Seed 60.83 28.42 44.57 60.83 64.07 67.31 67
Fertilizer 25.29 4.02 12.78 20.71 22.38 24.05 21
Crop chemicals 38.95 19.41 28.17 38.95 40.67 42.38 39
Crop insurance 28.96 12.03 19.49 21.01 21.91 22.81 20
Fuel & oil 23.75 14.56 19.45 21.90 22.63 23.37 22
Repairs 31.11 19.07 26.03 28.06 28.96 29.86 28
Custom hire 8.43 3.18 5.77 8.43 8.96 9.48 8
Hired labor 3.68 0.98 2.20 3.68 3.94 4.21 3
Land rent 236.45 109.63 163.64 236.45 249.13 261.81 210
Machinery & bldg leases 3.01 0.74 1.85 3.01 3.23 3.44 3
Marketing 3.01 0.78 1.62 3.01 3.23 3.46 3
Operating interest 10.80 5.73 7.64 6.68 6.64 6.60 7
Miscellaneous 4.72 1.62 2.69 2.57 2.67 2.76 3
Total direct expenses per acre 456.18 223.03 335.64 456.18 479.50 502.81 434
Return over direct exp per acre 291.14 71.30 160.15 71.30 70.29 69.28 -11
Overhead Expenses
Custom hire 2.17 1.43 1.81 0.00 0.00 0.00 0
Hired labor 7.98 2.87 5.66 6.73 6.94 7.15 7
Machinery & bldg leases 5.00 3.32 4.08 4.09 4.17 4.24 4
Farm insurance 6.67 3.64 4.89 6.67 6.96 7.24 7
Utilities 4.41 2.55 3.06 4.41 4.60 4.78 5
Dues & professional fees 2.61 0.87 1.77 2.61 2.78 2.96 3
Interest 6.10 4.14 5.10 4.14 4.09 4.04 4
Mach & bldg depreciation 40.13 19.41 29.80 39.86 41.91 43.95 40
Miscellaneous 6.33 3.65 5.07 5.08 5.22 5.37 5
Total overhead expenses per acre 75.71 44.32 60.32 72.74 75.58 78.42 75
Total dir & ovhd expenses per acre 528.91 267.36 395.96 528.91 555.07 581.22 509
Net return per acre 220.88 -1.44 99.83 -1.44 -5.29 -9.14 -86
Lbr & mgmt charge per acre 41.14 24.99 33.83 35.54 35.86 36.18 35
Net return over lbr & mgt 179.74 -36.98 72.47 -36.98 -47.62 -58.26 -121
Government payments 28.68 1.22 18.55 1.22 -1.12 -3.45 30
Net return with gov't payments 196.92 -35.76 86.10 -35.76 -43.82 -51.88 -91
Cost of Production
Total direct expense per bu. 9.72 4.20 7.04 9.72 10.27 10.82 9.23
Total dir & ovhd exp per bu. 11.27 5.03 8.30 11.27 11.89 12.52 10.83
With labor & management 12.04 5.64 9.00 12.03 12.67 13.31 11.57
Total exp less govt & oth income 11.69 5.08 8.23 10.91 11.49 12.08 10.94

Source FINBIN Database of Farm Business Management Associations in Southern Minnesota.

2015

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