Crop Enterprise Analysis
(Farms Sorted By Net Return Per Acre)

Soybeans on Cash Rent

Avg. Of
All Farms Low 20% 20 - 40% 40 - 60% 60 - 80% High 20%
Number of fields 2288 423 483 448 472 462
Number of farms 1377 275 275 276 275 276
Acres 189.48 156.12 192.69 243.97 181.57 171.91
Yield per acre (bu.) 39.70 36.80 37.59 38.41 41.50 44.41
Operators share of yield % 100.00 100.00 100.00 100.00 100.00 100.00
Value per bu. 9.57 9.09 9.27 9.44 9.62 10.30
Other product return per acre 0.02 0.02 0.04 - 0.04 0.01
Total product return per acre 379.93 334.57 348.69 362.45 399.41 457.31
Hedging gains/losses per acre 0.19 -0.26 -1.40 0.31 1.43 0.95
Crop insurance per acre 50.06 37.67 38.60 45.61 50.24 79.73
Other crop income per acre 1.62 0.78 1.29 1.51 1.36 3.14
Gross return per acre 431.81 372.76 387.17 409.88 452.43 541.13
Direct Expenses
Seed 36.52 38.52 37.48 37.35 34.29 35.01
Fertilizer 10.12 15.79 11.82 8.84 7.77 7.71
Crop chemicals 27.70 32.86 26.49 28.23 25.57 26.38
Crop insurance 26.31 25.68 26.35 24.92 26.53 28.45
Fuel & oil 22.22 24.46 22.32 20.62 22.20 22.47
Repairs 24.20 29.67 24.83 21.56 23.60 23.21
Custom hire 5.13 7.60 5.00 5.65 4.41 3.29
Hired labor 1.42 1.41 2.19 0.84 1.39 1.35
Land rent 113.04 116.37 107.33 106.69 114.14 124.50
Machinery leases 1.39 1.08 2.68 1.04 0.88 1.14
Utilities 0.34 0.45 0.32 0.18 0.30 0.53
Hauling and trucking 0.52 0.61 0.51 0.17 0.54 0.88
Marketing 0.61 1.04 0.41 0.46 0.55 0.78
Operating interest 8.51 11.25 8.25 7.69 7.15 9.16
Miscellaneous 1.65 1.37 1.65 1.71 1.37 2.11
Total direct expenses per acre 279.68 308.15 277.63 265.96 270.71 286.98
Return over direct exp per acre 152.13 64.61 109.54 143.92 181.72 254.15
Overhead Expenses
Custom hire 0.64 1.04 0.76 0.65 0.53 0.26
Hired labor 5.72 6.17 6.61 6.08 4.51 5.13
Machinery leases 2.94 3.49 3.09 2.63 2.36 3.34
Building leases 0.93 1.40 0.72 0.58 0.92 1.30
Farm insurance 4.12 4.55 4.21 3.79 4.05 4.19
Utilities 2.79 3.41 2.84 2.81 2.63 2.34
Dues & professional fees 1.88 2.03 2.07 1.76 2.00 1.55
Interest 5.38 7.85 5.58 4.89 4.61 4.60
Mach & bldg depreciation 23.57 29.30 23.67 21.48 22.52 22.70
Miscellaneous 4.70 6.38 5.33 3.85 4.22 4.25
Total overhead expenses per acre 52.67 65.61 54.88 48.52 48.35 49.69
Total dir & ovhd expenses per acre 332.35 373.76 332.50 314.48 319.06 336.66
Net return per acre 99.46 -1.00 54.67 95.40 133.37 204.46
Government payments 17.87 17.54 17.47 17.06 18.22 19.34
Net return with govt pmts 117.32 16.54 72.13 112.46 151.59 223.80
Labor & management charge 30.24 32.00 28.20 26.90 32.47 33.38
Net return over lbr & mgt 87.08 -15.46 43.94 85.56 119.12 190.42
Cost of Production
Total direct expense per bu. 7.04 8.37 7.38 6.93 6.52 6.46
Total dir & ovhd exp per bu. 8.37 10.16 8.84 8.19 7.69 7.58
Less govt & other income 6.61 8.64 7.36 6.51 5.97 5.26
With labor & management 7.38 9.51 8.11 7.21 6.75 6.01
Net value per unit 9.57 9.08 9.24 9.45 9.66 10.32
Machinery cost per acre 81.94 99.79 84.37 75.26 77.94 77.77
Est. labor hours per acre 1.84 2.11 1.84 1.68 1.82 1.84

Copyright (c) 2005-2009, University of Minnesota
Data Source(s): All Minnesota Groups, 1298 farms
Southwest Minnesota Farm Business Management Association, 79 farms

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Report Summary

1. Report number 142380
2. Location
    State: Minnesota
3. Farm Characteristics
    Year(s): 2008
    Crop tenure type: Cash Rent

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