South East Area Reports for 1999

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

                                   CORN SILAGE ON CASH RENTED LAND                        


                                                   Average Of   Average Of   Average Of
                                                    All Farms    High 20%       Low 20%  
                                                   
          Number of fields                                 65           13           13
          Number of farms                                  64           13           13

          Acres                                         33.82        29.76        32.95
          Yield per acre (ton)                          20.68        24.12        17.87
          Operators share of yield %                   100.00       100.00       100.00
          Value per ton                                 17.70        18.23        17.22
          Total product return per acre                366.11       439.70       307.77
          Miscellaneous income per acre                 19.10        43.91         2.95
          Gross return per acre                        385.22       483.60       310.72

          Direct expenses per acre
            Seed                                        34.28        31.42        37.82
            Fertilizer                                  37.20        25.70        48.54
            Crop chemicals                              36.04        35.33        32.46
            Crop insurance                               5.32         4.27         3.70
            Drying fuel                                  0.76         0.43         0.00
            Irrigation energy                            0.04         0.03         0.00
            Fuel & oil                                  11.64        13.40        10.42
            Repairs                                     17.97        34.67        14.54
            Repair, machinery                           11.98         3.45         8.32
            Custom hire                                 34.00        12.65       106.36
            Repair, buildings                            0.71         0.09         0.23
            Repair, irrigation equip                     0.01         0.00         0.00
            Land rent                                   82.21        61.57        82.15
            Machinery & bldg leases                      0.44         0.00         0.48
            Utilities                                    0.10         0.00         0.00
            Operating interest                           8.14         6.29        11.49
            Miscellaneous                                3.04         5.13         5.61
          Total direct expenses per acre               283.89       234.43       362.11
          Return over direct expenses per acre         101.33       249.17       -51.39

          Overhead expenses per acre
            Hired labor                                 10.96        20.83        11.24
            Machinery & bldg leases                      7.06         8.76         3.90
            RE & pers. property taxes                    0.12         0.23         0.00
            Farm insurance                               3.01         2.71         2.65
            Utilities                                    2.60         2.20         2.00
            Dues & professional fees                     0.78         1.06         0.25
            Interest                                    11.66        20.94         4.98
            Mach & bldg depreciation                    29.25        25.13        25.25
            Miscellaneous                                7.00        16.46         4.78
          Total overhead expenses per acre              72.45        98.32        55.06
          Total listed expenses per acre               356.34       332.75       417.17
          Net return per acre                           28.88       150.85      -106.45

          Total direct expense per ton                  13.73         9.72        20.26
          Total listed expense per ton                  17.23        13.79        23.34
          Net return per ton                             1.40         6.25        -5.96
          Breakeven yield per acre                      19.05        15.85        24.06
          Est. labor hours per acre                      4.35         1.12        10.59

          Net return including govt. payments           62.86       167.36       -68.88
          Lbr & mgt charge per acre                     32.37        21.32        40.69
          Net return over lbr & mgt                     30.50       146.05      -109.57

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