Red River Valley Reports For 1999

                                            TABLE 12 - 18                                  
                                   Crop Enterprise Analysis, 1999                         
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                (Farms sorted by Return to Overhead)                      

                                   SUGAR BEETS ON CASH RENTED LAND                        

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

          Number of fields                                132           40           23
          Number of farms                                  96           19           19

          Acres                                        175.60       179.30       141.11
          Yield per acre (ton)                          19.50        16.82        22.08
          Operators share of yield %                   100.00       100.00       100.00
          Value per ton                                 33.30        33.20        34.45
          Total product return per acre                649.24       558.54       760.80
          Miscellaneous income per acre                 14.19         4.59        53.29
          Gross return per acre                        663.43       563.14       814.09

          Direct expenses per acre
            Seed                                        43.73        45.70        37.81
            Fertilizer                                  28.28        25.32        28.59
            Crop chemicals                             119.20       124.11       105.17
            Crop insurance                              11.48        10.24        10.29
            Fuel & oil                                  24.30        26.40        24.25
            Repairs                                     53.97        69.38        47.75
            Custom hire                                 16.22        12.28        25.16
            Hired labor                                 18.73        23.08        10.56
            Land rent                                   73.72        73.88        65.63
            Machinery & bldg leases                      0.72         1.81         0.00
            Operating interest                          20.02        26.98        15.06
            Miscellaneous                                1.44         0.79         1.97
          Total direct expenses per acre               411.81       439.97       372.24
          Return over direct expenses per acre         251.62       123.17       441.85

          Overhead expenses per acre
            Custom hire                                  7.22         5.16        16.43
            Hired labor                                 35.10        51.38        34.65
            Machinery & bldg leases                     10.62         8.10        18.96
            Farm insurance                               5.00         5.93         4.04
            Utilities                                    6.74         8.10         6.82
            Dues & professional fees                     5.04         5.24         4.60
            Interest                                    29.67        34.81        30.88
            Mach & bldg depreciation                    36.94        33.55        35.27
            Miscellaneous                                9.49        12.03         8.22
          Total overhead expenses per acre             145.82       164.30       159.89
          Total listed expenses per acre               557.63       604.26       532.12
          Net return per acre                          105.80       -41.13       281.96

          Total direct expense per ton                  21.12        26.15        16.86
          Total listed expense per ton                  28.60        35.92        24.10
          Net return per ton                             5.43        -2.44        12.77
          Breakeven yield per acre                      16.32        18.06        13.90

          Net return including govt. payments          133.80       -15.49       311.65
          Lbr & mgt charge per acre                     57.58        54.74        57.92
          Net return over lbr & mgt                     76.22       -70.23       253.72
          Sugar beet stock equity charge               109.95       111.17       104.33
          Net return over sugar beet stock             -33.73      -181.40       149.39

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