Red River Valley Reports For 1999

                                            TABLE 12 - 17                                  
                                   Crop Enterprise Analysis, 1999                         
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                       (Average of All Farms)                             

                              SUGAR BEETS ON OWNED LAND - JOINT VENTURE           

                                                                     Average For
                                                                      All Farms 
                                                                     

                    Number of fields                                         20
                    Number of farms                                          18

                    Acres                                                 49.81
                    Yield per acre (ton)                                  18.72
                    Operators share of yield %                           100.00
                    Value per ton                                         32.67
                    Total product return per acre                        611.68
                    Miscellaneous income per acre                         23.77
                    Gross return per acre                                635.45

                    Direct expenses per acre
                      Seed                                                39.69
                      Fertilizer                                          31.12
                      Crop chemicals                                     111.85
                      Crop insurance                                       9.12
                      Fuel & oil                                          22.94
                      Repairs                                             41.86
                      Custom hire                                          8.22
                      Hired labor                                         14.78
                      Machinery & bldg leases                              3.77
                      Stock rent (joint venture)                         186.98
                      Operating interest                                  18.14
                      Miscellaneous                                        0.46
                    Total direct expenses per acre                       488.93
                    Return over direct expenses per acre                 146.51

                    Overhead expenses per acre
                      Custom hire                                          1.26
                      Hired labor                                         17.70
                      Machinery & bldg leases                              6.69
                      RE & pers. property taxes                           13.26
                      Farm insurance                                       2.65
                      Utilities                                            5.26
                      Dues & professional fees                             6.52
                      Interest                                            53.23
                      Mach & bldg depreciation                            42.64
                      Miscellaneous                                        6.40
                    Total overhead expenses per acre                     155.62
                    Total listed expenses per acre                       644.55
                    Net return per acre                                   -9.11

                    Total direct expense per ton                          26.11
                    Total listed expense per ton                          34.43
                    Net return per ton                                    -0.49
                    Breakeven yield per acre                              19.00

                    Net return including govt. payments                   22.10
                    Lbr & mgt charge per acre                             57.67
                    Net return over lbr & mgt                            -35.57

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