TABLE 13 - 6
Crop Enterprise Analysis
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(FarmsSorted By Net Return)
Corn on Cash Rent
Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of fields 90 17 15 15
Number of farms 75 15 15 15
Acres 248.91 220.72 269.73 427.41
Yield per acre (bu.) 105.07 75.05 103.08 126.38
Operators share of yield % 100.00 100.00 100.00 100.00
Value per bu. 2.13 1.74 2.08 2.36
Total product return per acre 224.18 130.92 214.29 298.05
Miscellaneous income per acre 57.46 80.17 53.33 55.50
Gross return per acre 281.63 211.09 267.62 353.54
Direct Expenses
Seed 40.65 43.10 41.92 40.46
Fertilizer 47.75 53.94 46.53 48.59
Crop chemicals 20.33 21.54 21.03 19.51
Crop insurance 13.97 15.02 15.76 13.78
Drying fuel 14.91 25.07 17.93 10.38
Fuel & oil 13.01 15.53 10.77 12.88
Repairs 21.21 21.10 18.77 21.93
Custom hire 2.64 5.64 3.56 1.52
Land rent 62.97 60.81 62.79 64.00
Machinery & bldg leases 0.77 - - 0.13
Operating interest 4.60 6.88 3.53 2.96
Miscellaneous 1.01 0.04 0.48 0.15
Total direct expenses per acre 243.82 268.68 243.07 236.28
Return over direct exp per acre 37.81 -57.59 24.55 117.26
Overhead Expenses
Custom hire 2.58 1.78 2.45 3.30
Hired labor 9.99 12.33 11.20 10.02
Machinery & bldg leases 3.61 1.79 5.06 2.41
Farm insurance 4.46 4.28 4.68 3.82
Utilities 2.43 2.65 2.12 2.23
Dues & professional fees 2.04 2.30 1.58 2.36
Interest 4.74 6.31 1.99 4.53
Mach & bldg depreciation 17.14 16.16 13.84 21.24
Miscellaneous 2.44 2.63 2.62 2.02
Total overhead expenses per acre 49.44 50.23 45.55 51.94
Total dir & ovhd expenses per acre 293.26 318.91 288.62 288.22
Net return per acre -11.63 -107.82 -21.00 65.32
Lbr & mgt charge per acre 24.91 25.53 20.49 29.52
Net return over lbr & mgt -36.55 -133.35 -41.49 35.80
Government payments 13.73 13.87 12.42 13.88
Net return with govt payments -22.82 -119.48 -29.07 49.68
Cost of Production
Total direct expense per bu. 2.32 3.58 2.36 1.87
Total dir & ovhd exp per bu. 2.79 4.25 2.80 2.28
With labor & management 3.03 4.59 3.00 2.51
Total exp less govt & oth income 2.35 3.34 2.36 1.97
Est. labor hours per acre 1.63 1.94 1.34 1.51
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