South East Area Reports for 1999

                                         S.E. Minnesota FBM                               
                                   Crop Enterprise Analysis, 1999                         
                                (Farms sorted by Return to Overhead)                      

                                      CORN SILAGE ON OWNED LAND                           


                                                   Average Of   Average Of   Average Of
                                                    All Farms    High 20%       Low 20%  
                                                   
          Number of fields                                106           21           22
          Number of farms                                 104           21           21

          Acres                                         33.28        36.76        34.80
          Yield per acre (ton)                          21.04        25.58        16.60
          Operators share of yield %                   100.00       100.00       100.00
          Value per ton                                 17.64        17.83        17.22
          Total product return per acre                371.28       456.11       285.92
          Miscellaneous income per acre                 13.75        23.75        16.87
          Gross return per acre                        385.03       479.86       302.79

          Direct expenses per acre
            Seed                                        35.59        31.97        33.81
            Fertilizer                                  30.20        30.24        23.72
            Crop chemicals                              35.54        33.49        37.79
            Crop insurance                               4.81         5.16         5.22
            Drying fuel                                  0.57         0.00         0.00
            Irrigation energy                            0.13         0.00         0.60
            Fuel & oil                                  13.43        10.25        15.87
            Repairs                                     20.96        13.97        22.51
            Repair, machinery                           14.22        19.50        18.13
            Custom hire                                 34.00        16.20        61.89
            Repair, buildings                            1.43         1.68         1.65
            Repair, irrigation equip                     0.04         0.00         0.11
            Machinery & bldg leases                      0.84         0.00         3.89
            Utilities                                    0.37         0.00         1.70
            Marketing                                    0.01         0.00         0.00
            Operating interest                           9.23         3.37        22.04
            Miscellaneous                                4.27         6.34         6.46
          Total direct expenses per acre               205.64       172.17       255.36
          Return over direct expenses per acre         179.39       307.69        47.42

          Overhead expenses per acre
            Hired labor                                 16.27        20.36        14.41
            Machinery & bldg leases                      4.38         5.46        -1.38
            RE & pers. property taxes                    9.28         7.82         8.42
            Farm insurance                               4.55         4.42         7.51
            Utilities                                    3.95         4.18         4.64
            Dues & professional fees                     1.89         2.71         2.44
            Interest                                    42.99        25.25        34.17
            Mach & bldg depreciation                    40.04        32.71        54.07
            Miscellaneous                                8.69        15.18         5.85
          Total overhead expenses per acre             132.03       118.09       130.14
          Total listed expenses per acre               337.66       290.27       385.50
          Net return per acre                           47.36       189.59       -82.72

          Total direct expense per ton                   9.77         6.73        15.38
          Total listed expense per ton                  16.05        11.35        23.22
          Net return per ton                             2.25         7.41        -4.98
          Breakeven yield per acre                      18.36        14.95        21.41
          Est. labor hours per acre                      2.26         1.18         1.99

          Net return including govt. payments           93.30       250.60       -47.80
          Lbr & mgt charge per acre                     33.24        25.90        44.71
          Net return over lbr & mgt                     60.06       224.70       -92.51

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