TABLE 13 - 5
Crop Enterprise Analysis
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(FarmsSorted By Net Return)
Corn on Owned Land
Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of fields 48 8 11 10
Number of farms 44 8 9 9
Acres 135.14 169.81 172.84 109.28
Yield per acre (bu.) 112.34 86.22 112.68 138.48
Operators share of yield % 100.00 100.00 100.00 100.00
Value per bu. 2.13 1.94 2.15 2.30
Total product return per acre 238.80 167.20 242.50 319.17
Miscellaneous income per acre 39.31 30.72 46.25 27.96
Gross return per acre 278.11 197.93 288.75 347.13
Direct Expenses
Seed 39.13 41.45 37.61 42.25
Fertilizer 49.21 50.88 50.12 51.14
Crop chemicals 22.04 17.48 25.77 22.86
Crop insurance 12.48 14.37 12.12 12.30
Drying fuel 14.56 13.42 13.28 15.15
Fuel & oil 14.27 14.70 14.45 12.50
Repairs 22.89 23.20 22.97 20.30
Custom hire 2.82 3.83 3.52 1.20
Hired labor 1.09 - 3.73 -
Operating interest 4.21 5.87 3.49 1.01
Miscellaneous 0.31 0.39 0.23 0.25
Total direct expenses per acre 182.99 185.58 187.28 178.96
Return over direct exp per acre 95.12 12.35 101.47 168.17
Overhead Expenses
Custom hire 1.66 0.84 1.88 2.98
Hired labor 10.36 14.61 13.07 7.00
Machinery & bldg leases 2.96 0.52 6.25 1.45
RE & pers. property taxes 9.75 10.72 9.14 10.72
Farm insurance 4.49 5.24 4.66 3.33
Utilities 2.87 3.27 2.64 1.25
Dues & professional fees 2.26 2.16 1.65 1.67
Interest 31.59 35.43 33.42 20.14
Mach & bldg depreciation 19.10 18.09 17.62 21.83
Miscellaneous 3.31 3.70 3.70 2.11
Total overhead expenses per acre 88.34 94.58 94.01 72.49
Total dir & ovhd expenses per acre 271.33 280.16 281.29 251.44
Net return per acre 6.78 -82.24 7.46 95.69
Lbr & mgt charge per acre 24.79 21.81 23.26 31.43
Net return over lbr & mgt -18.00 -104.05 -15.80 64.26
Government payments 14.11 13.66 15.25 12.09
Net return with govt payments -3.90 -90.39 -0.55 76.35
Cost of Production
Total direct expense per bu. 1.63 2.15 1.66 1.29
Total dir & ovhd exp per bu. 2.42 3.25 2.50 1.82
With labor & management 2.64 3.50 2.70 2.04
Total exp less govt & oth income 2.16 2.99 2.16 1.75
Est. labor hours per acre 1.73 2.08 1.82 1.39
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