Risk Management ConferenceJune 12, 2007

Rochester, MNEddie Johnson

Wicomico County ExtensionUniversity of MD

Salisbury, Maryland ejohnso3@umd.edu

Is Corn Profitable?

Best Manager’s Award

– Year Price Yield Cost– 2000 $1.92 203 $1.08– 2001 $2.10 215 $1.26– 2002 $2.90 235 $1.80– 2003 $2.45 204 $1.27– 2004 $2.20 232 $1.29– 2005 $2.15 168 $1.46– 2006 $2.89 254 $1.41

TRI-COUNTY CORN IMPROVEMENT PROGRAMNAME: _____________________________________________ PHONE: _____________________ (as it should appear on certificate)ADDRESS:____________________________________________________________________________IRRIGATED: NO-TILL_______ CONV._______ NON-IRRIGATED: NO TILL______CONV_______CORN YIELD DATAStalk Count – Number of stalks in 100 feet of 1st row_______ 2nd row______Variety_________________________ Planting Date____________________ Planting Rate/A_____________

HERBICIDE RATE/ACRE HERBICIDE RATE/ACRE

INSECTICIDE___________________ Rate/A_______ INSECTICIDE________________ Rate/A_______

Fertilizer Program (Per Acre)

TOTAL LBS.

ANALYSIS N LBS. P2O5 K2O LBS.

PLOWDOWN

AT PLANTING

SIDE DRESSED

OTHER (SPECIFY)

TOTAL

Trace Elements – Name – Lbs/Acre:____________________________________________pH____________ Lime Used: _______________________________________________

TILLAGE PRACTICES

#TIMES USED TILLAGE PRACTICES

#TIMES USED

Moldboard plow No-Till planter

Chisel plow Drill

Disc Sprayer

Field cultivator Granular application

Spring tooth harrow Irrigation inches

Cultipacker v-rip

Leveler Other

It is the policy of the University of Maryland, Agricultural Experiment Station and Maryland cooperative Extension that no person shall be subjected to discrimination on the

grounds of race, color, gender, religion, national origin, sexual orientation, age, marital or parental status or disability.

1.92

2.10

2.90

2.45

2.20 2.15

2.89

1.46

1.70

2.62

1.94

1.73 1.67 1.71

1.08

1.26

1.80

1.27 1.29

1.51.41

0.46 0.400.28

0.51

1.07

0.48

1.18

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

2000 2001 2002 2003 2004 2005 2006

PRICECost/AVEbest costprofit

197 200212

197 195 196

212

185 181

81

155

192 188 185

167 162

69

125

152144 148

0

50

100

150

200

250

2000 2001 2002 2003 2004 2005 2006

IRRDRYCO AVE

YIELD

1.92

2.10

2.90

2.45

2.20 2.15

2.89

1.67

1.94 1.922.00

2.12 2.13

1.89

1.391.50

3.22

1.90

1.561.68 1.66

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

2000 2001 2002 2003 2004 2005 2006

PRICECost IRRCost DRY

2006 WICOMICO CORN IMPROVEMENT PROGRAM

DATE PLANTED: VARIETY:

ITEM UNIT QTY. PRICE TOTAL

YIELD PER ACRE BU $2.89 $0.00

VARIABLE COSTSSEED CORN 1K SEED $0.00 $0.00FERTILIZER & LIMENITROGEN LB > $0.35 $0.00PHOSPHATE LB > $0.39 $0.00POTASH LB > $0.22 $0.00BORON LB > $4.12 $0.00POULTRY MANURE TON > $8.00 $0.00LIME TON > 0.33 $47.00 $15.51

$15.51CROP CHEMICALS

QT > $10.50 $0.00LB > $3.80 $0.00QT > $11.25 $0.00PT > $5.05 $0.00OZ > $1.04 $0.00PT > 2.05 $0.00 $0.00

DRYING FUEL-PROPANEGAL $0.75 $0.00CROP INSURANCE ACRE > $7.00 $0.00IRRIGATION ENERGY INCH > $1.80 $0.00 $0.00

TILLAGE PRACTICES MOLDBOARD PLOW > $10.00 $0.00 CHISEL PLOW > $12.00 $0.00 DISC > $8.00 $0.00 FIELD CULTIVATER > $8.00 $0.00 PLANE > $6.00 $0.00 PLANTER > $10.00 $0.00 PLANTER(NO-TILL) > $14.00 $0.00 SPRAYER > $5.00 $0.00 PLOWDOWN FERT.APP. > $5.00 $0.00 HARVESTING > $25.00 $0.00 HAULING > $0.15 $0.00 OTHER(sidedressed) > $7.00 $0.00 $0.00INTEREST APR 1 10.0% $1.55 $1.55LAND RENT ACRE 1 $75.00 $75.00 $75.00IRRIGATION EQUIP. ACRE $70.00 $0.00 $0.00

TOTAL EXPENSES $92.06

RETURNS, LABOR AND MANAGEMENT ($92.06)

COST PER BUSHEL #DIV/0!

Per acre Cost/

BushelYield Cost Seed Fert Chem

254 357 40 80 26 1.41

208 314 43 53 32 1.51

230 352 47 84 27 1.53

211 326 47 67 38 1.54

211 333 47 67 38 1.58

190 312 45 83 17 1.64

178 298 50 67 18 1.68

199 363 37 61 17 1.82

217 395 53 67 11 1.83

151 280 19 63 14 1.85

203 396 49 84 58 1.95

214 417 49 118 58 1.95

219 442 57 60 31 2.02

206AVE 352AVE 45AVE 73AVE 30AVE 1.71AVE

Per acre Cost/

BushelYield Cost Rank/yield Rank net

$NET

254 357 1 1 376 1.41

208 314 8 3 288 1.51

230 352 2 2 312 1.53

211 326 6 4 284 1.54

211 333 7 5 276 1.58

190 312 11 6 237 1.64

178 298 12 8 215 1.68

199 363 10 9 213 1.82

217 395 4 7 230 1.83

151 280 13 13 156 1.85

203 396 9 11T 190 1.95

214 417 5 10 201 1.95

219 442 3 11T 190 2.02

Per acre Cost/

BushelYield Gross Cost Net Description

254 735 357 377 -1 Conv/pl/4.5 1.41

208 603 314 289 -3 NT/pl/2.5 1.51

230 664 352 312 -2 NT/pl/2.5/S 1.53

211 610 326 284 -4 NT/pl/3 1.54

211 610 333 276 -5 NT/pl/3 1.58

190 550 312 238 -6 NT/pl/2/S 1.64

178 514 298 216 -8 NT/pl/2 1.68

199 576 363 213 -9 NT IRR/3.5pl 1.82

217 626 396 230 -7 NT IRR/3pl 1.83

151 437 280 157 -13 Conv/S 1.85

203 587 396 190 -12 Rip/NT/3pl 1.95

214 618 417 201 -10 NT/comm/Fert 1.95

219 633 442 191 -11 Conv/IRR/pl3 2.02

2006 WICOMICO CORN IMPROVEMENT PROGRAMWimberly Farms-Kevin Anderson

DATE PLANTED: 5/5 CONVENTIONAL NO-IRRDATE HARVESTED: 9/26 VARIETY: Chemgro 6930

ITEM UNIT QTY. PRICE TOTAL

YIELD PER ACRE BU 254.23 $2.89 $734.72

VARIABLE COSTSSEED CORN 1K SEED 28.5 $1.41 $40.19 $40.19FERTILIZER & LIMENITROGEN LB > 80 $0.35 $28.00PHOSPHATE LB > $0.39 $0.00POTASH LB > $0.22 $0.00BORON LB > $4.12 $0.00POULTRY MANURE TON > 4.5 $8.00 $36.00LIME TON > 0.33 $47.00 $15.51

$79.51CROP CHEMICALSATTREX QT > 1.75 $2.55 $4.46

LB > $0.00 $0.00PRINCEP QT > 1 $3.75 $3.75

PT > $0.00 $0.00QUADRIS OZ > 9.2 $1.91 $17.57PONCHO/SEED 0 $0.00 $25.78

DRYING FUEL-PROPANEGAL $0.75 $0.00CROP INSURANCE ACRE > 1 $7.00 $7.00IRRIGATION ENERGY INCH > $1.80 $0.00 $7.00

TILLAGE PRACTICES MOLDBOARD PLOW > $10.00 $0.00 V RIP > 1 $12.00 $12.00 DISC > $8.00 $0.00 FIELD CULTIVATER > 1 $8.00 $8.00 PLANE > 1 $6.00 $6.00 PLANTER > $10.00 $0.00 PLANTER(NO-TILL) > 1 $14.00 $14.00 SPRAYER > 1 $5.00 $5.00 PLOWDOWN FERT.APP. > $5.00 $0.00 HARVESTING > 1 $25.00 $25.00 HAULING > 254.23 $0.15 $38.13 OTHER(sidedressed) > 1 $7.00 $7.00 $115.13INTEREST APR 1 10.0% $15.25 $15.25LAND RENT ACRE 1 $75.00 $75.00 $75.00IRRIGATION EQUIP. ACRE $70.00 $0.00 $0.00

TOTAL EXPENSES $357.86

RETURNS, LABOR AND MANAGEMENT $376.86

COST PER BUSHEL $1.41

2006 WICOMICO CORN IMPROVEMENT PROGRAMBEAVER RUN HOTTEN FARMS

DATE PLANTED: 4/11 CONV/NONIRRDATE HARVESTED: 8/30 VARIETY: PIONEER 36W66

ITEM UNIT QTY. PRICE TOTAL

YIELD PER ACRE BU 208.7 $2.89 $603.14

VARIABLE COSTSSEED CORN 1K SEED 29 $1.49 $43.21 $43.21FERTILIZER & LIMENITROGEN LB > 50 $0.35 $17.50PHOSPHATE LB > $0.39 $0.00POTASH LB > $0.22 $0.00BORON LB > $4.12 $0.00POULTRY MANURE TON > 2.5 $8.00 $20.00LIME TON > 0.33 $47.00 $15.51

$53.01CROP CHEMICALSLUMAX QT > 2.5 $9.13 $22.83GRAMOXONE QT > 0.5 $3.80 $1.90PRINCEP QT > 1 $3.75 $3.75

PT > $5.05 $0.00WARRIOR OZ > 2 $1.89 $3.78

PT > 2.05 $0.00 $32.26

DRYING FUEL-PROPANEGAL $0.75 $0.00CROP INSURANCE ACRE > 1 $7.00 $7.00IRRIGATION ENERGY INCH > $1.80 $0.00 $7.00

TILLAGE PRACTICES MOLDBOARD PLOW > $10.00 $0.00 CHISEL PLOW > $12.00 $0.00 DISC > $8.00 $0.00 FIELD CULTIVATER > 1 $8.00 $8.00 PLANE > $6.00 $0.00 PLANTER > $10.00 $0.00 PLANTER(NO-TILL) > 1 $14.00 $14.00 SPRAYER > 1 $5.00 $5.00 PLOWDOWN FERT.APP. > $5.00 $0.00 HARVESTING > 1 $25.00 $25.00 HAULING > 208.7 $0.15 $31.31 OTHER(sidedressed) > 1 $7.00 $7.00 $90.31INTEREST APR 1 10.0% $13.55 $13.55LAND RENT ACRE 1 $75.00 $75.00 $75.00IRRIGATION EQUIP. ACRE $70.00 $0.00 $0.00

TOTAL EXPENSES $314.33

RETURNS, LABOR AND MANAGEMENT $288.82

COST PER BUSHEL $1.51

2006 WICOMICO CORN IMPROVEMENT PROGRAMHOWARD PAYNE

CONV/NON-IRRDATE PLANTED: 5/4 VARIETY: FIELDERS CHOICE 7728

ITEM UNIT QTY. PRICE TOTAL

YIELD PER ACRE BU 151.27 $2.89 $437.17

VARIABLE COSTSSEED CORN 1K SEED 15 $1.25 $18.75 $18.75FERTILIZER & LIMENITROGEN LB > 73.2 $0.35 $25.62PHOSPHATE LB > 14 $0.39 $5.46POTASH LB > 7.2 $0.22 $1.58 GROWERS 1 $15.25 $15.25POULTRY MANURE TON > $8.00 $0.00LIME TON > 0.33 $47.00 $15.51

$63.42CROP CHEMICALS ROUNDUP QT > 1.5 $9.00 $13.50

LB > $3.80 $0.00QT > $11.25 $0.00PT > $5.05 $0.00OZ > $1.04 $0.00PT > 2.05 $0.00 $13.50

DRYING FUEL-PROPANEGAL $0.75 $0.00CROP INSURANCE ACRE > 1 $7.00 $7.00IRRIGATION ENERGY INCH > $1.80 $0.00 $7.00

TILLAGE PRACTICES MOLDBOARD PLOW > $10.00 $0.00 CHISEL PLOW > $12.00 $0.00 DISC > 2 $8.00 $16.00 FIELD CULTIVATER > $8.00 $0.00 CULTIPACKER > 2 $6.00 $12.00 PLANTER > 1 $10.00 $10.00 PLANTER(NO-TILL) > $14.00 $0.00 SPRAYER > 2 $5.00 $10.00 PLOWDOWN FERT.APP. > $5.00 $0.00 HARVESTING > 1 $25.00 $25.00 HAULING > 151.27 $0.15 $22.69 OTHER(sidedressed) > 1 $7.00 $7.00 $102.69INTEREST APR 10.0% $0.00 $0.00LAND RENT ACRE 1 $75.00 $75.00 $75.00IRRIGATION EQUIP. ACRE $70.00 $0.00 $0.00

TOTAL EXPENSES $280.36

RETURNS, LABOR AND MANAGEMENT $156.81

COST PER BUSHEL $1.85

2006 WICOMICO CORN IMPROVEMENT PROGRAMCORNERSTONE FARMS

DATE PLANTED: 4/27 CONV/IRRDATE HARVESTED: 9/28 VARIETY: DEKALB 60-19RR

ITEM UNIT QTY. PRICE TOTAL

YIELD PER ACRE BU 219.1 $2.89 $633.20

VARIABLE COSTSSEED CORN 1K SEED 26 $2.22 $57.72 $57.72FERTILIZER & LIMENITROGEN LB > 60 $0.35 $21.00PHOSPHATE LB > $0.39 $0.00POTASH LB > $0.22 $0.00BORON LB > $4.12 $0.00POULTRY MANURE TON > 3 $8.00 $24.00LIME TON > 0.33 $47.00 $15.51

$60.51CROP CHEMICALS BICEP QT > 1 $8.40 $8.40

LB > $3.80 $0.00QT > $11.25 $0.00

DURANGO PT > 1.5 $3.42 $5.13 QUADRIS OZ > 9.2 $1.91 $17.57

PT > 2.05 $0.00 $31.10

DRYING FUEL-PROPANEGAL $0.75 $0.00CROP INSURANCE ACRE > 1 $7.00 $7.00IRRIGATION ENERGY INCH > 4.75 $1.80 $8.55 $15.55

TILLAGE PRACTICES MOLDBOARD PLOW > $10.00 $0.00 CHISEL PLOW > 1 $12.00 $12.00 DISC > $8.00 $0.00 FIELD CULTIVATER > 2 $8.00 $16.00 PLANE > 1 $6.00 $6.00 PLANTER > $10.00 $0.00 PLANTER(NO-TILL) > 1 $14.00 $14.00 SPRAYER > 2 $5.00 $10.00 PLOWDOWN FERT.APP. > $5.00 $0.00 HARVESTING > 1 $25.00 $25.00 HAULING > 219.1 $0.15 $32.87 OTHER(sidedressed) > $7.00 $0.00 $115.87INTEREST APR 1 10.0% $16.49 $16.49LAND RENT ACRE 1 $75.00 $75.00 $75.00IRRIGATION EQUIP. ACRE 1 $70.00 $70.00 $70.00

TOTAL EXPENSES $442.24

RETURNS, LABOR AND MANAGEMENT $190.96

COST PER BUSHEL $2.02

Best Manager’s Award

– Year Price Yield Cost– 2000 $1.92 203 $1.08– 2001 $2.10 215 $1.26– 2002 $2.90 235 $1.80– 2003 $2.45 204 $1.27– 2004 $2.20 232 $1.29– 2005 $2.15 168 $1.46– 2006 $2.89 254 $1.41