2019 field crop budgets updated 2/15/2019 · 2019. 2. 15. · warrior ii ounce $2.20: xtendmax...

Crop budgets vary greatly by operation! Prices and cost estimates are averages collected from retailers across the state. Input prices will vary by crop, management, region, varieties and other criteria and may not be reflective of YOUR true costs. Assumptions in Analysis:- Land charge of $98. Purchase price is not included.- Operating expenses borrowed at 8.5% interest for 5 months of expenses.- Fertility rates based on MCE SFM-1 guidelines - Assuming medium fertility levels Fixed costs are calculated with MD Custom Rates (2019) -should use your actual fixed costs - Crop insurance quotes. Actuals will not be set until March.2019 Changes: New spray schedule, addition of Palmer ControlBudgeting Recommendations:- Create your own budgets and fixed costs including equipment, repairs, insurance, depreciation, interest and taxes- Write and implement a farm business plan - setting goals, managing finances and develop markets- Manage capital assets such as land and equipment- Track your expenses and at the end of the year compare actual and projectedUsing This Spreadsheet- This workbook is designed to be updated very easily. Click on the INPUTS worksheet and make changes. This will automatically update changes on other worksheets (i.e. N changes from .47 to .54 update it on the inputs page and it automatically updates all N prices for the 5 crops)- Be sure to save changes periodically and use the date in the title to mark when the budget was prepared.Questions Contact: Shannon Dill, 410-822-1244 or [email protected]

www.extension.umd.edu/grainmarketingBudgets were developed by Ben Beale, Francis Breeding, Shannon Dill, Dale Johnson, Jim Lewis and Jenny RhodesDisclaimer - Reference in this publication to any specific commercial product, process, or service, or the use of any trade, firm, or corporation name is for general informational purposes only and does not constitute an endorsement, recommendation, or certification. Persons using such products assume responsibility for their use in accordance with current directions of the manufacturer.EQUAL ACCESS PROGRAMSInputsCorn Grain - No Till, Non IrrigatedCorn Grain - Conventional Non IrrigatedCorn Grain - No Till, IrrigatedCorn Grain - No Till, Poultry LitterCorn Grain - No Till, Non Irrigated, Palmer ControlSoybeans - RR Soybeans - Liberty LinkSoybeans - XtendSoybeans - RR, Palmer ControlWheatWheat/Soybean Double CropBlank BudgetHistorical

2019 Field Crop BudgetsUpdated 2/15/2019

http://www.extension.umd.edu/grainmarketing

INPUTS

UNIT PRICE NOTESYEAR 2019INCOMECORN BUSHEL $4.04 Dec 19SOYBEANS BUSHEL $9.60 Nov 19WHEAT BUSHEL $5.27 Jul 19EXPENSES

SEEDCORN CONVENTIONAL 1,000 SEEDS $1.68CORN ROUNDUP READY & BT 1,000 SEEDS $2.99SOYBEAN 1,000 SEEDS $0.25SOYBEAN RR II 1,000 SEEDS $0.38SOYBEAN LL 1,000 SEEDS $0.32SOYBEAN XTEND 1,000 SEEDS $0.37WHEAT (treated) POUND $0.33

FERTILIZERNITROGEN POUND $0.46PHOSPHORUS POUND $0.57POTASH POUND $0.33SULFATE POUND $0.90POULTRY LITTER TON $20.00LIME TON $42.00

PESTICIDES2 4-D QUART $4.252 4-D PINT $2.13ATRAZINE QUART $3.50BOUNDARY PINT $15.00CORVUS OUNCE $5.99DUAL PINT $10.52ENGENIA OUNCE $0.84FLEXSTAR GT PINT $3.56GRAMOXONE (BURNDOWN) PINT $3.32HALEX GT PINT $7.13HARMONY TOTAL SOL OUNCE $12.69LIBERTY QUART $13.75PRINCEP QUART $6.00PROSARO OUNCE $1.78ROUNDUP QUART $4.88SHARPEN OUNCE $5.27SURFACTANT QUART $0.99STRATEGO OUNCE $4.06TILT OUNCE $0.83VALOR SX OUNCE $3.31WARRIOR II OUNCE $2.20XTENDMAX OUNCE $0.62ZIDUA OUNCE $9.16

OTHERSOIL TEST ACRE $0.30CROP INSURANCE - Corn ACRE $21.07CROP INSURANCE - Corn Irrigated ACRE $19.52CROP INSURANCE - Soybeans ACRE $13.61CROP INSURANCE - Wheat ACRE $12.13DRYING FUEL AND HANDLING BUSHEL $0.35FIXED COSTS - 2019 Custom RatesSTALK CHOPPING ACRE $17.48CHISEL PLOWING ACRE $21.60DISKING ACRE $25.20FIELD CULTIVATOR/FINISHER ACRE $12.00VERTICAL TILLAGE ACRE $18.35FERTILIZER SPREADING ACRE $8.59

INPUTS

SIDEDRESSING ACRE $10.30MANURE LOADING TON $7.25MANURE SPREADING - LITTER TON $8.87MANURE HAULING TON $8.83PESTICIDE SPRAYING ACRE $10.23NOTILL DRILLING SMALL GRAIN ACRE $21.16PLANTING CORN - Conventional ACRE $19.97 CORN - NoTill ACRE $21.07 SOYBEAN - Conventional ACRE $20.90 SOYBEAN - NoTill ACRE $20.88BROADCAST SEEDING SMGRAIN ACRE $11.79HARVESTING CORN ACRE $34.85 SOYBEAN ACRE $34.94 WHEAT ACRE $41.21HAULING BUSHEL $0.19LAND CHARGE ACRE $98.00

CORN GRAIN NO TILL

CORN GRAIN, NO-TILL NON-IRRIGATED PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMECORN GRAIN BUSHEL 150 $4.04 $606.00VARIABLE COSTSSEED RR 1000 SEEDS 29 $2.99 $86.57SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 150 $0.46 $68.25PHOSPHATE POUND 30 $0.57 $16.95POTASH POUND 60 $0.33 $19.50LIME TON 0.5 $42.00 $21.00GRAMOXONE (BURNDOWN) PINT 1.5 $3.32 $4.97CORVUS OUNCE 4 $5.99 $23.94ATRAZINE QUART 0.5 $3.50 $1.75ROUNDUP (POST) QUART 1 $4.88 $4.88PRINCEP QUART 1 $6.00 $6.00

CROP INSURANCE (RP 75%) ACRE 1 $21.07 $21.07

DRYING FUEL BUSHEL 150 $0.36 $54.00

INTEREST ON OPERATING CAPITAL $248.10 0.5 8.5% $10.54TOTAL VARIABLE COSTS LISTED ABOVE $339.72FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)

FERTILIZER SPREADING ACRE 1 $8.59 $8.59NO-TILL PLANTING WITH FERTILIZER ACRE 1 $21.07 $21.07NITROGEN APPLICATION ACRE 1 $10.30 $10.30PESTICIDE APPLICATIONS ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $34.85 $34.85HAULING BUSHEL 150 $0.19 $28.50INTEREST ON SPRING CUSTOM CHARGES $60.42 0.5 8.5% $2.57

LAND CHARGE ACRE 1 $98.00 $98.00TOTAL FIXED COST LISTED ABOVE $224.34TOTAL VARIABLE AND FIXED COST LISTED ABOVE $564.05NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $41.95

PRICES (12%)NET INCOME ABOVE VARIABLE AND YIELDS (25%) $3.56 $4.04 $4.52FIXED COSTS LISTED ABOVE FOR 112.5 ($164.09) ($109.55) ($55.01)VARIOUS YIELDS AND PRICES 150 ($30.77) $41.95 $114.67

187.5 $102.55 $193.45 $284.35Assumptions:Non-continuous corn so soil insecticide may not be necessary.If following beans add 20 lb N creditLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsBt seed corn, hybrid, mid price gradeSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

CORN GRAIN CONVENTIONAL NON-IR

CORN GRAIN, CONVENTIONAL TILL, NON-IRRIGAT PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMECORN GRAIN BUSHEL 150 $4.04 $606.00VARIABLE COSTSSEED RR 1000 SEEDS 29 $2.99 $86.57SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 150 $0.46 $68.25PHOSPHATE POUND 30 $0.57 $16.95POTASH POUND 60 $0.33 $19.50LIME TON 0.5 $42.00 $21.00CORVUS OUNCE 4 $5.99 $23.94ATRAZINE QUART 0.5 $3.50 $1.75PRINCEP QUART 1 $6.00 $6.00ROUNDUP POST QUART 1 $4.88 $4.88CROP INSURANCE (RP 75%) ACRE 1 $21.07 $21.07


INTEREST ON OPERATING CAPITAL $238.26 0.5 8.5% $10.13TOTAL VARIABLE COSTS LISTED ABOVE $334.33FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)CHISEL PLOWING ACRE 1 $21.60 $21.60DISKING ACRE 1 $25.20 $25.20FIELD CULTIVATOR/FINISHER ACRE 1 $12.00 $12.00FERTILIZER SPREADING ACRE 1 $8.59 $8.59PLANTING WITH FERTILIZER ACRE 1 $19.97 $19.97NITROGEN APPLICATION ACRE 1 $10.30 $10.30PESTICIDE APPLICATIONS ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $34.85 $34.85HAULING BUSHEL 150 $0.19 $28.50INTEREST ON SPRING CUSTOM CHARGES $118.12 0.5 8.5% $5.02

LAND CHARGE ACRE 1 $98.00 $98.00TOTAL FIXED COST LISTED ABOVE $284.49TOTAL VARIABLE AND FIXED COST LISTED ABOVE $618.82NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE ($12.82)

PRICES (12%)NET INCOME ABOVE VARIABLE AND YIELDS (25%) $3.56 $4.04 $4.52FIXED COSTS LISTED ABOVE FOR 112.5 ($218.86) ($164.32) ($109.78)VARIOUS YIELDS AND PRICES 150 ($85.54) ($12.82) $59.90

187.5 $47.78 $138.68 $229.58Assumptions:Non-continuous corn so soil insecticide may not be necessary.Local hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsBt seed corn, hybrid, mid price gradeSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

CORN GRAIN - IRRIGATED

CORN GRAIN, NO-TILL IRRIGATED PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMECORN GRAIN BUSHEL 230 $4.04 $929.20VARIABLE COSTSSEED RR 1000 SEEDS 36 $2.99 $107.46SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 230 $0.46 $104.65PHOSPHATE POUND 45 $0.57 $25.43POTASH POUND 100 $0.33 $32.50LIME TON 0.5 $42.00 $21.00GRAMOXONE (BURNDOWN) PINT 1.5 $3.32 $4.97CORVUS OUNCE 4 $5.99 $23.94ATRAZINE QUART 0.5 $3.50 $1.75ROUNDUP (POST) QUART 1 $4.88 $4.88STRATEGO OUNCE 4 $4.06 $16.24PRINCEP QUART 1 $6.00 $6.00CROP INSURANCE (RP 75%) ACRE 1 $19.52 $19.52

DRYING FUEL BUSHEL 230 $0.35 $80.50IRRIGATION EXPENSE (eletric, fuel, etc) INCH 10 $7.78 $77.80IRRIGATION REPAIR & MAINTENANCE ACRE 1 $10.00 $10.00

INTEREST ON OPERATING CAPITAL $326.87 0.5 8.5% $13.89TOTAL VARIABLE COSTS LISTED ABOVE $550.82FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)FERTILIZER SPREADING ACRE 1 $8.59 $8.59NO-TILL PLANTING WITH FERTILIZER ACRE 1 $21.07 $21.07NITROGEN APPLICATION ACRE 1 $10.30 $10.30PESTICIDE APPLICATIONS ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $34.85 $34.85HAULING BUSHEL 230 $0.19 $43.70INTEREST ON SPRING CUSTOM CHARGES $60.42 0.5 8.5% $2.57IRRIGATION PAYMENT (including interest) ACRE 1 $150.00 $150.00



287.5 $81.76 $221.14 $360.52Assumptions:Non-continuous corn so soil insecticide may not be necessary.If following beans add 20 lb N creditLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsBt seed corn, hybrid, mid price gradeSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.Average variable cost for irrigation (electric, diesel, gas) = $7.78/inchAverage variable cost for irrigation (repair/maintenance) = $10/acreAverage fixed cost (irrigation payments) =~$150/acre

CORN GRAIN NO TILLwLITTER

CORN GRAIN, NO-TILL, POULTRY LITTER PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMECORN GRAIN BUSHEL 150 $4.04 $606.00VARIABLE COSTSSEED RR 1000 SEEDS 29 $2.99 $86.57SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 80 $0.46 $36.40PHOSPHATE POUND 0 $0.57 $0.00POTASH POUND 0 $0.33 $0.00POULTRY LITTER (57-99-113) TON 2 $20.00 $40.00LIME TON 0.5 $42.00 $21.00GRAMOXONE (BURNDOWN) PINT 1.5 $3.32 $4.97CORVUS OUNCE 4 $5.99 $23.94ATRAZINE QUART 0.5 $3.50 $1.75ROUNDUP POST QUART 1 $4.88 $4.88PRINCEP QUART 1 $6.00 $6.00CROP INSURANCE (RP 75%) ACRE 1 $21.07 $21.07


INTEREST ON OPERATING CAPITAL $219.80 0.5 8.5% $9.34TOTAL VARIABLE COSTS LISTED ABOVE $308.71FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)MANURE HAULING TON 2 $8.83 $17.66MANURE LOADING TON 2 $7.25 $14.50MANURE SPREADING - LITTER TON 2 $8.87 $17.74MINIMAL TILLAGE ACRE 1 $18.35 $18.35NO-TILL PLANTING ACRE 1 $21.07 $21.07NITROGEN APPLICATION ACRE 1 $10.30 $10.30PESTICIDE APPLICATIONS ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $34.85 $34.85HAULING BUSHEL 150 $0.19 $28.50INTEREST ON SPRING CUSTOM CHARGES $102.42 0.5 8.5% $4.35



187.5 $72.10 $163.00 $253.90Assumptions:Non-continuous corn so soil insecticide may not be necessary.If following beans add 20 lb N creditLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsBt seed corn, hybrid, mid price gradePoultry litter estimates - Economic Value of Poultry Litter 2002. Lichtenberg, Parker, Lynch.Litter will provide nitrogen availability at year 2 20% and year 3 5%Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

CORN GRAIN NO TILLwPALMER

CORN GRAIN, NO-TILL NON-IRR wPALMER CONTROL PER ACRE 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMECORN GRAIN BUSHEL 150 $4.04 $606.00VARIABLE COSTSSEED RR 1000 SEEDS 29 $2.99 $86.57SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 150 $0.46 $68.25PHOSPHATE POUND 30 $0.57 $16.95POTASH POUND 60 $0.33 $19.50LIME TON 0.5 $42.00 $21.00GRAMOXONE (BURNDOWN) PINT 1.5 $3.32 $4.97ATRAZINE QUART 0.5 $3.50 $1.75ROUNDUP POST QUART 1 $4.88 $4.88PRINCEP QUART 1 $6.00 $6.00HALEX GT PINT 4 $7.13 $28.52CROP INSURANCE (RP 75%) ACRE 1 $21.07 $21.07


INTEREST ON OPERATING CAPITAL $224.16 0.5 8.5% $9.53TOTAL VARIABLE COSTS LISTED ABOVE $343.28FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)

FERTILIZER SPREADING ACRE 1 $8.59 $8.59NO-TILL PLANTING WITH FERTILIZER ACRE 1 $21.07 $21.07NITROGEN APPLICATION ACRE 1 $10.30 $10.30PESTICIDE APPLICATIONS ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $34.85 $34.85HAULING BUSHEL 150 $0.19 $28.50INTEREST ON SPRING CUSTOM CHARGES $60.42 0.5 8.5% $2.57



187.5 $98.98 $189.88 $280.78Assumptions:Non-continuous corn so soil insecticide may not be necessary.If following beans add 20 lb N creditLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsBt seed corn, hybrid, mid price gradeSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

SOYBEANS

SOYBEANS RR READY PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMESOYBEANS BUSHEL 50 $9.60 $480.00VARIABLE COSTSSEED 1000 SEEDS 150 $0.38 $56.25SOIL TESTING ACRE 1 $0.30 $0.30

PHOSPHATE POUND 45 $0.57 $25.43POTASH POUND 40 $0.33 $13.00LIME TON 0.5 $42.00 $21.00GRAMOXONE (BURNDOWN) PINT 2 $3.32 $6.632 4-D PINT 1 $2.13 $2.13ROUNDUP (2 PASSES) QUART 2 $4.88 $9.75WARRIOR II OUNCE 1.92 $2.20 $4.22

CROP INSURANCE (RP 75%) ACRE 1 $13.61 $13.61

INTEREST ON OPERATING CAPITAL $138.70 0.5 8.5% $5.89

TOTAL VARIABLE COSTS LISTED ABOVE $158.21FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)FERTILIZER APPLICATION ACRE 1 $8.59 $8.59SOYBEAN - NoTill ACRE 1 $20.88 $20.88PESTICIDE APPLICATIONS ACRE 3 $10.23 $30.69HARVESTING ACRE 1 $34.94 $34.94HAULING BUSHEL 50 $0.19 $9.50INTEREST ON SPRING CUSTOM CHARGES $60.16 0.5 8.5% $2.56


PRICES (12%)NET INCOME ABOVE VARIABLE AND YIELDS (25%) $8.45 $9.60 $10.75FIXED COSTS LISTED ABOVE FOR 37.5 ($46.57) ($3.37) $39.83VARIOUS YIELDS AND PRICES 50 $59.03 $116.63 $174.23

62.5 $164.63 $236.63 $308.63

AssumptionsFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsLocal hauling within 30 miles of farmSensitivity analysis based on 75%,100% and 125% of typical yield and12% current forward contract price.

SOYBEANS LL

SOYBEANS LIBERTY LINK PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMESOYBEANS BUSHEL 50 $9.60 $480.00VARIABLE COSTSSEED 1000 SEEDS 150 $0.32 $48.00SOIL TESTING ACRE 1 $0.30 $0.30

PHOSPHATE POUND 45 $0.57 $25.43POTASH POUND 40 $0.33 $13.00LIME TON 0.5 $42.00 $21.00GRAMOXONE PINT 2 $3.32 $6.632 4-D PINT 1 $2.13 $2.13WARRIOR II OUNCE 1.92 $2.20 $4.22DUAL PINT 1.5 $10.52 $15.77LIBERTY QUART 1 $13.75 $13.75SPRAY GRADE SULFATE WITH LIBERTY POUND 2 $0.90 $1.80CROP INSURANCE (RP 75%) ACRE 1 $13.61 $13.61



$0.00$0.00

LAND CHARGE ACRE 1 98.00 $98.00TOTAL FIXED COST LISTED ABOVE $205.16TOTAL VARIABLE AND FIXED COST LISTED ABOVE $375.92NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $104.08


62.5 $152.08 $224.08 $296.08

AssumptionsFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsLocal hauling within 30 miles of farmSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

SOYBEANS XTEND

SOYBEANS XTEND PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMESOYBEANS BUSHEL 50 $9.60 $480.00VARIABLE COSTSSEED 1000 SEEDS 150 $0.37 $55.50SOIL TESTING ACRE 1 $0.30 $0.30

PHOSPHATE POUND 45 $0.57 $25.43POTASH POUND 40 $0.33 $13.00LIME TON 0.5 $42.00 $21.00GRAMOXONE PINT 2 $3.32 $6.632 4-D PINT 1 $2.13 $2.13WARRIOR II OUNCE 1.92 $2.20 $4.22DUAL PINT 1 $10.52 $10.52XTENDIMAX OUNCE 22 $0.62 $13.64SURFACTANT QUART 1 $0.99 $0.99CROP INSURANCE (RP 75%) ACRE 1 $13.61 $13.61



$0.00$0.00

LAND CHARGE ACRE 1 98.00 $98.00TOTAL FIXED COST LISTED ABOVE $205.16TOTAL VARIABLE AND FIXED COST LISTED ABOVE $377.56NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $102.44

PRICES (12%)NET INCOME ABOVE VARIABLE AND YIELDS (25%) $7.20 $9.60 $12.00FIXED COSTS LISTED ABOVE FOR 37.5 ($107.56) ($17.56) $72.44VARIOUS YIELDS AND PRICES 50 ($17.56) $102.44 $222.44

62.5 $72.44 $222.44 $372.44


SOYBEANS wPALMER

SOYBEANS RR READY wPALMER CONTROL PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMESOYBEANS w/PALMER CONTROL BUSHEL 50 $9.60 $480.00VARIABLE COSTSSEED 1000 SEEDS 150 $0.38 $56.25SOIL TESTING ACRE 1 $0.30 $0.30

PHOSPHATE POUND 45 $0.57 $25.43POTASH POUND 40 $0.33 $13.00LIME TON 0.5 $42.00 $21.00GRAMOXONE PINT 2 $3.32 $6.632 4-D PINT 1 $2.13 $2.13VALOR SX OUNCE 3 $3.31 $9.93ROUNDUP QUART 1 $4.88 $4.88WARRIOR II OUNCE 1.92 $2.20 $4.22FLEXSTAR GT PINT 3.5 $3.56 $12.46CROP INSURANCE (RP 75%) ACRE 1 $13.61 $13.61


TOTAL VARIABLE COSTS LISTED ABOVE $175.94FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)FERTILIZER APPLICATION ACRE 1 $8.59 $8.59SOYBEAN - NoTill Planting ACRE 1 $20.88 $20.88PESTICIDE APPLICATIONS ACRE 3 $10.23 $30.69HARVESTING ACRE 1 $34.94 $34.94HAULING BUSHEL 50 $0.19 $9.50INTEREST ON SPRING CUSTOM CHARGES $60.16 0.5 8.5% $2.56



62.5 $146.90 $218.90 $290.90


WHEAT

WHEAT PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMEWHEAT BUSHEL 75 $5.27 $395.25VARIABLE COSTSSEED POUND 150 $0.33 $49.50SOIL TESTING ACRE 1 $0.30 $0.30NITROGEN POUND 70 $0.46 $31.85PHOSPHATE POUND 40 $0.57 $22.60POTASH POUND 40 $0.33 $13.00LIME TON 0.5 $42.00 $21.00

HARMONY TOTAL SOL OUNCE 0.8 $12.69 $10.15SURFACTANT QUART 1 $0.99 $0.99TILT OUNCE 2 $0.83 $1.66ZIDUA OUNCE 1.5 $9.16 $13.74PROSARO OUNCE 6.5 $1.78 $11.57WARRIOR II OUNCE 3 $2.20 $6.60

CROP INSURANCE (RP 75%) ACRE 1.00 $12.13 $12.13

INTEREST ON OPERATING CAPITAL $176.36 0.5 8.5% $7.50TOTAL VARIABLE COSTS LISTED ABOVE $202.59FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)SPREADING FERTILIZER ACRE 1 $8.59 $8.59VERTICAL TILLAGE ACRE 2 $18.35 $36.70BROADCAST SEEDING ACRE 1 $11.79 $11.79PESTICIDE APPLICATION ACRE 2 $10.23 $20.46HARVESTING ACRE 1 $41.21 $41.21HAULING BUSHEL 75 $0.19 $14.25INTEREST ON FALL CUSTOM CHARGES $77.54 0.5 8.5% $3.30



93.75 ($2.11) $57.18 $116.47AssumptionsLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levelsSensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.

WHEAT SOYBEAN DOUBLE CROP

WHEAT/SOYBEAN DOUBLE CROP PER ACRE FOR 2019ITEM UNIT QUANTITY PRICE TOTALGROSS INCOMEWHEAT BUSHEL 75 $5.27 $395.25SOYBEANS BUSHEL 40 $9.60 $384.00TOTAL GROSS INCOME $779.25VARIABLE COSTSSEED-WHEAT POUND 150 $0.33 $49.50SEED-SOYBEANS 1000 SEEDS 175 $0.38 $65.63SOIL TEST ACRE 1 $0.30 $0.30NITROGEN POUND 70 $0.46 $31.85PHOSPHATE POUND 85 $0.57 $48.03POTASH POUND 75 $0.33 $24.38LIME TON 0.5 $42.00 $21.00HARMONY TOTAL SOL OUNCE 0.5 $12.69 $6.35ZIDUA OUNCE 1.5 $9.16 $4.88SURFACTANT QUART 1 $2.25 $2.25TILT OUNCE 2 $0.83 $1.66WARRIOR II OUNCE 3.84 $2.20 $8.452 4-D PINT 1 $2.13 $2.13PROSARO OUNCE 6.5 $1.78 $11.57ROUNDUP QUART 1 $4.88 $4.88CROP INSURANCE-WHEAT (RP 75%) ACRE 1.00 $12.13 $12.13CROP INSURANCE-BEANS (RP 75%) ACRE 1.00 $13.61 $13.61INTEREST ON OPERATING CAPITAL $282.82 0.50 8.5% $12.02TOTAL VARIABLE COSTS LISTED ABOVE $320.58NET INCOME OVER VARIABLE COSTS LISTED ABOVE $458.67FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)FERTILIZER SPREADING ACRE 2 $8.59 $17.18VERTICAL TILLAGE ACRE 2 $18.35 $36.70BROADCAST SEEDING ACRE 1 $11.79 $11.79NOTILL DRILLING ACRE 1 $21.16 $21.16PESTICIDE APPLICATION ACRE 4 $10.23 $40.92HARVESTING ACRE 2 $41.21 $82.42HAULING BUSHEL 115 $0.19 $21.85INTEREST ON FALL/SPRING CUSTOM CHARG $127.75 0.5 8.5% $5.43LAND CHARGE ACRE 1 $98.00 $98.00TOTAL FIXED COST LISTED ABOVE $335.45TOTAL VARIABLE AND FIXED COST LISTED ABOVE $656.03NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $123.22

PRICES (12%)WHEAT $4.64 $5.27 $5.90

NET INCOME ABOVE VARIABLE AND BEAN $8.45 $9.60 $10.75FIXED COSTS LISTED ABOVE FOR 56 30 ($141.73) ($71.59) ($1.46)VARIOUS YIELDS AND PRICES 75 40 $29.71 $123.22 $216.73Sensitivity Analysis based on soybeans/wheat yield and price 94 50 $201.14 $318.03 $434.92AssumptionsLocal hauling within 30 miles of farmFertility rates based on MCE SFM-1 guidelinesAssuming medium fertility levels1 Post-plant bean glyphosate applicationSensitivity analysis based on 75%,100% and 125% of yield of beans and current forward contract price of beans/wheat.

CROP: YEAR:ITEM UNIT QUANTITY PRICE TOTAL

GROSS INCOME

VARIABLE COSTS

SEED

SOIL TEST

NITROGEN

PHOSPHATE

POTASH

LIME

PESTICIDES

CROP INSURANCE

DRYING FUEL

INTEREST ON OPERATING CAPITAL TOTAL VARIABLE COSTS LISTED ABOVE

FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)

LAND CHARGE TOTAL FIXED COST LISTED ABOVE

TOTAL VARIABLE AND FIXED COST LISTED ABOVE NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE

Cost Per Acre

Corn - No Till Corn - Conventional Soybeans Wheat Wheat/Beans2007 $362.40 $379.40 $234.26 $309.27 $395.892008 $470.72 $515.34 $307.12 $390.14 $562.342009 $521.49 $539.81 $410.69 $406.20 $630.512010 $525.26 $530.09 $405.77 $407.26 $640.602011 $568.66 $569.32 $348.06 $436.75 $653.832012 $572.54 $573.21 $355.69 $433.19 $655.562013 $552.86 $588.64 $350.10 $442.31 $669.602014 $506.66 $545.52 $364.77 $427.35 $662.172015 $575.50 $576.73 $357.51 $439.52 $659.732016 $552.32 $598.86 $364.95 $418.12 $649.032017 $566.37 $582.01 $358.25 $456.78 $671.802018 $525.91 $554.55 $354.77 $348.58 $638.792019 $564.05 $618.82 $363.37 $436.88 $656.03

** Historical Chart is based on prices in the January - March of each year

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Corn - No Till Corn - Conventional Soybeans Wheat Wheat/Beans

Cost Per Acre 2007 - 2019

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2008

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2010

2011

2012

2013

2014

2015

2016

2017

2018

Cost Per Acre 2019Corn - No Till Corn - Conventional Soybeans Wheat Wheat/Beans

2019 $564.05 $618.82 $363.37 $436.88 $656.03

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$363.37$436.88

$656.03

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Corn - No Till Corn - Conventional Soybeans Wheat Wheat/Beans

Cost Per Acre 2019

2019 field crop budgets updated 2/15/2019 · 2019. 2. 15. · warrior ii ounce $2.20: xtendmax...

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