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Extension > Agriculture > Agricultural Business Management > Crop budgets > 2017 Southern Minnesota corn and soybean budgets

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2017 Southern Minnesota corn and soybean budgets

David Bau

Minnesota corn 2017 budget

Corn budget Southern MN FINBIN data Range in value 2006-2015 Average
06-2015
Actual 2015 Trend 2016 Trend
2017
Forecast 2017
Yield per acre (bu.) 205.48 157.85 176.95 205.48 208 211 180
Value per bu. 6.5 2.9 4.3 3.52 3.58 3.64 3.25
Total product return per acre 1157.23 511.29 756.66 723.37 744.58 765.79 585
Miscellaneous income per acre 152.66 -1.81 37.82 7.83 8.22 8.60 0
Gross return per acre 1182.77 515.26 794.49 731.2 752.79 774.39 585
Direct Expenses
Seed 126.68 53.94 96.23 121.75 128.53 135.31 122
Fertilizer 188.83 72.42 138.09 147.67 155.20 162.72 115
Crop chemicals 36.68 22.19 28.61 36.68 37.95 39.22 37
Crop insurance 27.13 11.13 21.30 22.69 23.85 25.00 20
Drying fuel 36.57 5.50 15.50 9.32 8.92 8.51 20
Fuel & oil 36.41 20.16 28.80 24.13 24.53 24.92 25
Repairs 47.98 24.08 38.96 40.77 42.44 44.11 41
Custom hire 11.00 4.96 8.64 10.12 10.57 11.02 11
Hired labor 4.54 0.61 2.62 4.34 4.77 5.21 4
Land rent 243.47 114.83 179.99 231.92 243.63 255.34 194
Machinery & bldg leases 4.31 1.07 2.70 4.08 4.34 4.60 4
Utilities 1.59 0.99 0.67 1.59 1.75 1.91 2
Marketing 5.86 0.95 3.16 5.86 6.24 6.63 6
Operating interest 15.14 9.83 11.52 12.54 12.62 12.71 13
Miscellaneous 5.88 2.21 3.52 2.48 2.47 2.47 3
Total direct expenses per acre 755.44 357.31 580.71 675.93 707.79 739.65 617
Return over direct exp per acre 508.11 55.27 213.78 55.27 45.00 34.73 -32
Overhead Expenses
Custom hire 3.04 1.79 2.32 0 -$0.17 -$0.35 0
Hired labor 12.94 6.6 9.96 11.94 12.47 13.01 12
Machinery & bldg leases 8.32 5.48 6.43 8.32 8.60 8.89 8
Farm insurance 10.65 4.62 7.34 10.65 11.25 11.86 11
Utilities 5.5 3.24 4.39 4.79 4.95 5.10 5
Dues & professional fees 3.98 1.37 2.82 3.98 4.24 4.50 4
Interest 8.28 6.71 7.50 6.71 6.70 6.69 7
Mach & bldg depreciation 61.56 25.56 45.65 58.9 62.23 65.57 57
Miscellaneous 9.61 5.4 7.49 7.35 7.53 7.71 8
Total overhead expenses per acre 117.46 60.03 91.96 112.65 117.91 123.17 112
Total dir & ovhd expenses per acre 872.9 417.34 672.67 788.59 825.72 862.84 729
Net return per acre 404.13 -57.39 121.82 -57.39 -72.92 -88.45 -144
Lbr & mgmt charge per acre 59.78 30.48 47.97 52.01 54.16 56.32 50
Net return over lbr & mgt 345.46 -109.4 75.70 -109.4 -127.08 -144.77 -194
Government payments 49.65 2.28 22.14 49.65 51.43 53.20 31
Net return with gov't payments 363.69 -104.46 97.84 -59.75 -75.66 -91.57 -163
Cost of Production
Total direct expense per bu. 4.49 2.03 3.24 3.29 3.42 3.54 3.43
Total dir & ovhd exp per bu. 5.20 2.37 .82 3.84 3.99 4.13 4.05
With labor & management 5.55 2.54 4.00 4.09 4.25 4.40 4.33
Total exp less govt & oth income 4.78 2.34 3.66 3.85 4.00 4.15 4.16

Minnesota soybean 2017 budget

Soybean budget Southern MN FINBIN data Range in value 2006-2015 Average
06-2015
Actual 2015 Trend 2016 Trend
2017
Forecast 2017
Yield per acre (bu.) 59.88 40.61 49.05 59.88 60.64 61.41 49
Value per bu. 13.77 6.05 10.23 8.6 8.86 9.11 9.00
Total product return per acre 678.19 316.35 497.65 514.75 534.59 554.43 441
Miscellaneous income per acre 58.67 3.82 19.92 7.53 7.90 8.27 10
Gross return per acre 693.11 320.18 517.57 522.28 542.49 562.70 451
Direct Expenses
Seed 60.83 29.67 47.56 58.32 61.19 64.05 58
Fertilizer 25.29 4.24 14.68 23.11 24.95 26.79 16
Crop chemicals 44.97 19.41 30.48 44.97 47.53 50.08 45
Crop insurance 28.96 12.86 20.38 20.92 21.73 22.53 18
Fuel & oil 23.75 15.05 19.49 15.05 14.94 14.84 16
Repairs 31.11 19.27 26.67 25.55 26.18 26.81 27
Custom hire 8.43 3.35 6.26 8.1 8.54 8.99 8
Hired labor 3.68 0.98 2.36 3.47 3.73 4.00 3
Land rent 236.45 113.64 175.57 228.86 240.38 251.90 192
Machinery & bldg leases 3.07 0.74 2.07 3.07 3.25 3.43 3
Marketing 3.32 0.88 1.88 3.32 3.53 3.75 3
Operating interest 10.80 5.73 7.72 7.84 7.68 7.52 8
Miscellaneous 4.72 1.78 2.75 2.57 2.62 2.67 3
Total direct expenses per acre 456.18 233.05 357.94 445.99 467.28 488.58 400
Return over direct exp per acre 291.14 71.30 159.63 76.28 75.20 74.11 51
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 7.56 7.81 8.06 8
Machinery & bldg leases 5.00 3.49 4.24 4.88 4.98 5.07 5
Farm insurance 7.28 3.64 5.23 7.28 7.63 7.99 7
Utilities 4.41 2.6 3.11 3.05 3.10 3.14 4
Dues & professional fees 2.67 1.09 1.95 2.67 2.83 2.99 3
Interest 6.10 4.14 5.05 4.14 4.01 3.88 4
Mach & bldg depreciation 40.13 21.24 31.74 38.82 40.58 42.34 38
Miscellaneous 6.33 3.75 5.17 4.66 4.75 4.84 5
Total overhead expenses per acre 75.71 48.24 63.19 73.07 75.55 78.04 74
Total dir & ovhd expenses per acre 528.91 281.29 421.13 519.07 542.85 566.63 474
Net return per acre 220.88 -1.44 96.44 3.21 -0.36 -3.93 -23
Lbr & mgmt charge per acre 41.14 24.99 34.02 34.21 35.13 36.05 35
Net return over lbr & mgt 179.74 -36.98 62.42 -31 -35.49 -39.98 -58
Government payments 46.38 1.22 20.73 46.38 48.15 49.92 0
Net return with gov't payments 196.92 -35.76 83.15 15.38 12.66 9.94 -58
Cost of Production
Total direct expense per bu. 9.72 4.46 7.36 7.45 7.75 8.05 8.16
Total dir & ovhd exp per bu. 11.27 5.38 8.66 8.67 9.00 9.33 9.67
With labor & management 12.04 5.86 9.36 9.24 9.58 9.92 10.39
Total exp less govt & oth income 11.69 5.24 8.57 8.47 8.79 9.12 10.18

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

2016

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