TABLE 13 - 9
Crop Enterprise Analysis
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(Farms Sorted By Net Return)
Soybeans on Owned Land
Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of fields 149 23 29 43
Number of farms 110 22 22 22
Acres 169.91 177.19 180.17 126.49
Yield per acre (bu.) 20.83 19.01 20.33 20.26
Operators share of yield % 100.00 100.00 100.00 100.00
Value per bu. 5.86 5.78 5.63 6.39
Total product return per acre 122.08 109.85 114.47 129.40
Miscellaneous income per acre 61.91 41.37 61.96 84.10
Gross return per acre 183.99 151.22 176.44 213.50
Direct Expenses
Seed 30.11 30.80 27.88 28.79
Fertilizer 5.70 7.56 5.69 3.81
Crop chemicals 15.87 17.31 18.56 12.86
Crop insurance 11.85 11.94 11.00 12.61
Fuel & oil 9.12 8.64 9.71 8.36
Repairs 14.34 16.24 14.66 11.48
Custom hire 2.26 2.33 2.36 1.77
Hired labor 0.32 1.62 0.05 0.24
Operating interest 2.63 3.85 3.30 1.29
Miscellaneous 0.36 0.23 0.75 0.13
Total direct expenses per acre 92.56 100.50 93.97 81.34
Return over direct exp per acre 91.43 50.72 82.47 132.16
Overhead Expenses
Custom hire 2.17 4.58 1.84 1.51
Hired labor 6.15 5.62 6.27 5.19
Machinery & bldg leases 1.79 1.34 3.52 0.94
RE & pers. property taxes 9.75 9.14 9.87 9.58
Farm insurance 4.39 4.78 3.38 4.07
Utilities 2.14 2.98 2.14 1.59
Dues & professional fees 1.81 2.08 1.82 1.52
Interest 29.24 43.63 21.72 21.21
Mach & bldg depreciation 12.54 10.49 11.24 14.27
Miscellaneous 2.51 4.62 2.37 2.57
Total overhead expenses per acre 72.48 89.27 64.17 62.45
Total dir & ovhd expenses per acre 165.04 189.77 158.14 143.79
Net return per acre 18.95 -38.56 18.30 69.70
Lbr & mgt charge per acre 19.00 18.82 19.18 20.51
Net return over lbr & mgt -0.06 -57.37 -0.88 49.20
Government payments 14.95 14.93 14.72 15.26
Net return with govt payments 14.90 -42.45 13.84 64.45
Cost of Production
Total direct expense per bu. 4.44 5.29 4.62 4.01
Total dir & ovhd exp per bu. 7.92 9.98 7.78 7.10
With labor & management 8.84 10.97 8.72 8.11
Total exp less govt & oth income 5.15 8.01 4.95 3.21
Est. labor hours per acre 1.29 1.46 1.35 1.41
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