Red River Valley Reports For 1999

                                             TABLE 12 - 16                                  
                                   Crop Enterprise Analysis, 1999                         
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                (Farms sorted by Return to Overhead)                      

                                      SUGAR BEETS ON OWNED LAND                           

                                                   Average Of   Average Of   Average Of
                                                    All Farms     Low 20%      High 20%  
                                                   

          Number of fields                                 68           15           12
          Number of farms                                  55           11           11

          Acres                                         99.63        98.93       118.69
          Yield per acre (ton)                          20.97        17.08        25.40
          Operators share of yield %                   100.00       100.00       100.00
          Value per ton                                 33.66        31.72        34.12
          Total product return per acre                705.85       541.77       866.87
          Miscellaneous income per acre                  8.47        15.17         5.28
          Gross return per acre                        714.32       556.93       872.14

          Direct expenses per acre
            Seed                                        42.49        45.33        37.12
            Fertilizer                                  29.16        30.23        29.30
            Crop chemicals                             117.83       119.01       107.57
            Crop insurance                              11.58         9.92        15.84
            Fuel & oil                                  23.06        21.02        23.99
            Repairs                                     51.64        53.30        54.67
            Custom hire                                 23.57        13.66        31.14
            Hired labor                                 17.92        21.19        10.08
            Machinery & bldg leases                      0.63         1.40         0.00
            Operating interest                          17.64        17.91        18.88
            Miscellaneous                                1.59         1.21         2.75
          Total direct expenses per acre               337.11       334.18       331.36
          Return over direct expenses per acre         377.21       222.76       540.79

          Overhead expenses per acre
            Custom hire                                  5.88        10.98         2.24
            Hired labor                                 35.44        26.90        54.74
            Machinery & bldg leases                      7.65         7.23         8.72
            RE & pers. property taxes                   15.14        13.44        14.21
            Farm insurance                               5.21         4.66         5.77
            Utilities                                    7.87         6.29         8.65
            Dues & professional fees                     7.42         7.28         7.37
            Interest                                    54.14        55.44        42.28
            Mach & bldg depreciation                    45.63        40.47        52.75
            Miscellaneous                                7.74         4.19        13.88
          Total overhead expenses per acre             192.12       176.87       210.59
          Total listed expenses per acre               529.23       511.05       541.95
          Net return per acre                          185.09        45.88       330.19

          Total direct expense per ton                  16.08        19.56        13.04
          Total listed expense per ton                  25.24        29.92        21.33
          Net return per ton                             8.83         2.69        13.00
          Breakeven yield per acre                      15.47        15.64        15.73

          Net return including govt. payments          216.36        74.30       363.04
          Lbr & mgt charge per acre                     56.92        54.88        49.16
          Net return over lbr & mgt                    159.44        19.42       313.88
          Sugar beet stock equity charge               107.73       114.67       111.07
          Net return over sugar beet stock              51.71       -95.25       202.81

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