TABLE 13 - 12
Crop Enterprise Analysis
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(Farms Sorted By RoundUp Ready)
Soybeans on Cash Rent, Sorted by RoundUp Ready
Avg. Of 100% No No
All Farms RR RR Answer
Number of fields 284 180 15 89
Number of farms 177 122 13 54
Acres 358.37 377.08 300.25 330.32
Yield per acre (bu.) 21.39 21.20 19.15 22.18
Operators share of yield % 100.00 100.00 100.00 100.00
Value per bu. 5.97 5.98 6.03 5.94
Total product return per acre 127.70 126.78 115.43 131.71
Miscellaneous income per acre 61.03 58.11 89.80 63.37
Gross return per acre 188.73 184.89 205.23 195.08
Direct Expenses
Seed 30.54 32.64 16.07 27.93
Fertilizer 5.89 6.30 4.76 5.10
Crop chemicals 14.15 13.28 25.66 14.40
Crop insurance 12.91 12.54 12.13 13.89
Fuel & oil 8.89 8.36 10.05 9.94
Repairs 13.62 12.65 16.74 15.36
Custom hire 1.90 2.36 1.91 0.84
Hired labor 0.21 0.06 - 0.60
Land rent 61.24 62.54 56.86 58.92
Operating interest 2.89 2.88 3.23 2.87
Miscellaneous 0.69 0.53 - 1.17
Total direct expenses per acre 152.94 154.14 147.40 151.02
Return over direct exp per acre 35.80 30.76 57.82 44.06
Overhead Expenses
Custom hire 1.63 1.31 0.68 2.50
Hired labor 6.43 6.46 4.33 6.69
Machinery & bldg leases 2.41 2.23 1.48 2.94
Farm insurance 4.42 4.47 3.60 4.46
Utilities 2.07 2.09 2.49 1.96
Dues & professional fees 1.74 1.80 1.57 1.65
Interest 2.96 2.81 2.85 3.33
Mach & bldg depreciation 12.01 10.83 14.01 14.41
Miscellaneous 2.22 2.27 2.66 2.05
Total overhead expenses per acre 35.89 34.27 33.67 39.99
Total dir & ovhd expenses per acre 188.83 188.40 181.07 191.01
Net return per acre -0.10 -3.51 24.16 4.07
Lbr & mgt charge per acre 17.87 15.98 20.61 21.81
Net return over lbr & mgt -17.96 -19.49 3.55 -17.74
Government payments 14.70 14.57 15.50 14.88
Net return with govt payments -3.26 -4.92 19.05 -2.86
Cost of Production
Total direct expense per bu. 7.15 7.27 7.70 6.81
Total dir & ovhd exp per bu. 8.83 8.89 9.45 8.61
With labor & management 9.66 9.64 10.53 9.59
Total exp less govt & oth income 6.12 6.21 5.03 6.07
Est. labor hours per acre 1.26 1.21 1.28 1.38
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