Red River Valley Reports For 1998

                                            TABLE 12 - 19                                 
                                   Crop Enterprise Analysis, 1998                         
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                       (Farms sorted according to Return to Overhead per Acre)            

                                   SUGAR BEETS ON CASH RENTED LAND                        


                                                  Average Of   Average Of   Average Of 
                                                   All Farms     Low 20%     High 20% 
                                                  ----------  -----------  -----------
            Number of fields                             159           25           37
            Number of farms                               96           19           19

            Acres                                     166.56       216.81       167.27
            Yield per acre (ton)                       17.10        12.50        23.74
            Operators share of yield %                100.00       100.00       100.00
            Value per ton                              33.28        29.36        35.88
            Total product return per acre             569.00       367.04       851.76
            Miscellaneous income per acre              66.20       123.22        11.49
            Gross return per acre                     635.20       490.26       863.25

            Direct expenses per acre
              Seed                                     42.67        45.30        41.75
              Fertilizer                               32.00        31.08        31.27
              Crop chemicals                          113.47       110.97       121.07
              Crop insurance                           14.48        16.11        13.88
              Fuel & oil                               20.71        18.66        21.56
              Repairs                                  45.13        51.24        29.94
              Custom hire                              13.92         6.21        29.61
              Hired labor                              17.30        14.80        21.83
              Land rent                                72.34        75.34        72.74
              Machinery & bldg leases                   1.57         1.68         0.40
              Sugar beet stock                         76.84        98.42        41.64
              Operating interest                       21.33        31.18        11.16
              Miscellaneous                             1.61         0.34         1.12
            Total direct expenses per acre            473.38       501.32       437.98
            Return over direct expenses per acre      161.83       -11.06       425.27

            Overhead expenses per acre
              Custom hire                               5.50         6.82         2.11
              Hired labor                              32.69        39.45        35.94
              Machinery & bldg leases                  11.88        10.51        13.87
              Farm insurance                            4.93         4.98         6.89
              Utilities                                 5.74         5.58         4.72
              Dues & professional fees                  4.27         3.37         7.34
              Interest                                 30.45        24.89        33.08
              Mach & bldg depreciation                 38.04        30.41        50.05
              Miscellaneous                            11.40         5.99        15.29
            Total overhead expenses per acre          144.89       131.99       169.29
            Total listed expenses per acre            618.27       633.32       607.27
            Net return per acre                        16.94      -143.06       255.97

            Total direct expense per ton               27.69        40.10        18.45
            Total listed expense per ton               36.16        50.66        25.58
            Net return per ton                          0.99       -11.44        10.78
            Breakeven yield per acre                   16.59        17.37        16.61

            Lbr & mgt charge per acre                  56.88        51.20        61.59
            Net return over lbr & mgt                 -39.94      -194.26       194.38

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