Crop Enterprise Analysis (Farms Sorted By RoundUp Ready) Soybeans on Cash Rent Avg. Of 100% RR No RR No Answer All Farms Number of fields 2331 1599 70 662 Number of farms 1445 1011 62 396 Acres 205.55 201.62 230.91 212.36 Yield per acre (bu.) 45.48 46.53 42.06 43.46 Operators share of yield % 100.00 100.00 100.00 100.00 Value per bu. 6.03 6.04 6.05 5.99 Other product return per acre 0.01 0.01 - 0.03 Total product return per acre 274.03 281.05 254.48 260.19 Miscellaneous income per acre 5.45 5.84 7.71 4.28 Gross return per acre 279.48 286.89 262.19 264.47 Direct Expenses Seed 30.54 31.74 20.41 28.96 Fertilizer 5.36 5.36 5.06 5.39 Crop chemicals 18.38 17.89 22.87 19.00 Crop insurance 11.95 12.39 12.11 10.91 Fuel & oil 15.57 15.03 16.46 16.72 Repairs 17.81 17.71 18.38 17.98 Custom hire 3.04 2.97 1.81 3.34 Land rent 90.92 95.22 83.31 81.96 Machinery leases 0.77 0.98 0.92 0.27 Marketing 0.67 0.71 0.58 0.58 Operating interest 8.17 8.36 5.41 8.06 Miscellaneous 1.33 1.34 1.78 1.26 Total direct expenses per acre 204.52 209.69 189.08 194.43 Return over direct exp per acre 74.96 77.20 73.11 70.04 Overhead Expenses Custom hire 1.49 1.51 1.53 1.44 Hired labor 5.21 5.07 6.13 5.41 Machinery leases 2.80 2.87 1.98 2.74 Building leases 0.64 0.76 0.99 0.34 Farm insurance 3.74 3.57 3.76 4.12 Utilities 2.54 2.41 2.69 2.80 Dues & professional fees 1.39 1.40 1.86 1.30 Interest 4.94 4.96 5.99 4.77 Mach & bldg depreciation 17.78 18.56 15.25 16.28 Miscellaneous 3.36 3.38 3.54 3.28 Total overhead expenses per acre 43.88 44.50 43.72 42.47 Total dir & ovhd expenses per acre 248.40 254.19 232.80 236.90 Net return per acre 31.08 32.70 29.39 27.56 Government payments 23.85 25.06 19.56 21.59 Net return with govt pmts 54.93 57.76 48.95 49.15 Labor & management charge 22.17 23.19 21.65 19.91 Net return over lbr & mgt 32.76 34.57 27.30 29.24 Cost of Production Total direct expense per bu. 4.50 4.51 4.50 4.47 Total dir & ovhd exp per bu. 5.46 5.46 5.54 5.45 Less govt & other income 4.82 4.80 4.89 4.85 With labor & management 5.30 5.30 5.40 5.31 Machinery cost per acre 61.82 61.79 60.04 62.10 Est. labor hours per acre 1.78 1.78 1.78 1.78 Copyright (c) 2005-2007, University of Minnesota Data Source(s): Minnesota Farm Business Management Education, 1317 farms Southwest Minnesota Farm Business Management Association, 84 farms Southeast Minnesota Farm Business Management Association, 22 farms North Dakota Farm and Ranch Business Management - Red River Valley, 22 farms _______________________________________________________________________________ Report Summary 1. Report number 88078 2. Location State: Minnesota 3. Farm Characteristics Year(s): 2006 Crop tenure type: Cash Rent