Crop Enterprise Analysis
(Farms Sorted By Tillage System)

Soybeans on Cash Rent

Avg. Of Moldboard Chisel/ No Ridge Strip No
All Farms Reduced Till Till Till Answer
Number of fields 2179 39 1018 43 18 17 1044
Number of farms 1372 33 680 24 11 8 635
Acres 198.21 105.20 201.26 142.26 141.88 110.62 203.41
Yield per acre (bu.) 38.66 40.03 40.04 38.92 47.09 42.21 37.16
Operators share of yield % 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Value per bu. 11.41 11.51 11.48 11.29 11.49 11.53 11.34
Other product return per acre 0.02 0.62 0.02 - - - -
Total product return per acre 441.26 461.44 459.81 439.60 541.07 486.49 421.42
Hedging gains/losses per acre 0.17 - 0.48 - - - -0.13
Crop insurance per acre 23.54 25.93 23.02 25.75 3.71 22.72 24.18
LDP income per acre 0.02 - 0.04 - - - -
Other crop income per acre 2.19 0.67 2.51 5.59 3.79 6.04 1.76
Gross return per acre 467.18 488.04 485.86 470.94 548.57 515.24 447.24
Direct Expenses
Seed 51.58 48.59 52.40 53.21 44.82 54.27 50.86
Fertilizer 15.56 4.13 16.91 32.35 4.57 15.45 14.12
Crop chemicals 24.81 25.59 24.94 33.96 24.11 29.61 24.37
Crop insurance 22.63 23.25 23.51 23.74 31.19 24.44 21.62
Storage 0.47 0.87 0.64 0.11 0.64 0.48 0.31
Fuel & oil 21.47 22.55 21.07 15.96 12.76 27.22 22.05
Repairs 27.79 33.82 28.00 28.25 36.93 29.74 27.33
Custom hire 5.78 5.50 6.16 7.26 3.06 7.09 5.40
Hired labor 1.67 0.03 2.08 2.07 0.57 - 1.32
Land rent 139.85 153.51 150.56 142.44 186.92 156.23 128.46
Machinery leases 2.08 0.31 2.68 - 11.11 9.63 1.42
Utilities 0.36 0.96 0.51 0.11 1.67 - 0.20
Hauling and trucking 0.67 0.79 0.86 0.53 3.99 2.10 0.43
Marketing 0.82 1.01 0.83 0.37 0.85 0.67 0.82
Operating interest 5.61 6.31 5.96 3.52 6.28 7.74 5.29
Miscellaneous 1.39 1.45 1.50 2.38 1.64 2.10 1.24
Total direct expenses per acre 322.54 328.67 338.61 346.26 371.12 366.76 305.25
Return over direct exp per acre 144.64 159.37 147.24 124.68 177.44 148.48 141.99
Overhead Expenses
Custom hire 1.09 - 0.99 0.04 - - 1.27
Hired labor 7.16 4.42 6.59 5.54 0.95 10.04 7.86
Machinery leases 2.46 1.61 3.18 1.91 0.69 1.11 1.84
Building leases 0.89 0.04 1.06 0.55 - 2.88 0.75
Farm insurance 5.10 5.12 4.85 4.27 4.96 7.30 5.34
Utilities 3.07 4.30 2.79 2.27 1.86 3.59 3.35
Dues & professional fees 2.29 3.35 2.20 2.88 1.21 3.68 2.34
Interest 4.57 3.68 4.73 4.43 1.88 5.78 4.46
Mach & bldg depreciation 29.31 28.75 29.28 28.27 30.20 30.37 29.36
Miscellaneous 4.87 6.57 4.57 2.89 2.96 7.28 5.17
Total overhead expenses per acre 60.82 57.82 60.24 53.04 44.71 72.04 61.75
Total dir & ovhd expenses per acre 383.36 386.49 398.86 399.30 415.83 438.80 367.00
Net return per acre 83.82 101.55 87.00 71.64 132.73 76.44 80.24
Government payments 16.25 17.09 16.45 16.73 19.59 18.27 15.97
Net return with govt pmts 100.07 118.64 103.46 88.37 152.33 94.71 96.21
Labor & management charge 33.34 47.29 35.07 30.16 33.62 33.82 31.49
Net return over lbr & mgt 66.73 71.35 68.39 58.21 118.71 60.89 64.72
Cost of Production
Total direct expense per bu. 8.34 8.21 8.46 8.90 7.88 8.69 8.21
Total dir & ovhd exp per bu. 9.92 9.65 9.96 10.26 8.83 10.40 9.88
Less govt & other income 8.82 8.55 8.90 9.02 8.26 9.28 8.75
With labor & management 9.69 9.73 9.78 9.80 8.97 10.08 9.60
Net value per unit 11.42 11.51 11.50 11.29 11.49 11.53 11.34
Machinery cost per acre 90.38 91.41 92.41 82.56 92.66 107.27 88.44
Est. labor hours per acre 1.71 2.42 1.72 1.81 1.40 2.20 1.68

Copyright (c) 2005-2009, University of Minnesota
Data Source(s): MnSCU Farm Business Management, 1292 farms
Southwest Minnesota Farm Business Management Association, 80 farms

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Report Summary

1. Report number 222760
2. Location
    State: Minnesota
3. Farm Characteristics
    Year(s): 2011
    Crop tenure type: Cash Rent

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