Farm Business Management -- Reports -- State-wide Minnesota 2003

	Avg. Of
	All Farms	Low 20%	20 - 40%	40 - 60%	60 - 80%	High 20%

Number of fields	1840	308	391	384	385	372
Number of farms	1315	263	263	263	263	263

Acres	190.77	164.03	186.76	182.37	195.37	221.00
Yield per acre (bu.)	159.62	142.84	151.65	159.43	166.03	171.33
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	2.06	1.93	1.96	2.01	2.10	2.21
Other product return per acre	0.08	0.02	0.02	0.07	0.28	-
Total product return per acre	328.93	275.78	296.85	320.84	348.77	378.84
Miscellaneous income per acre	22.51	11.67	20.91	18.63	19.95	36.23
Gross return per acre	351.44	287.45	317.76	339.48	368.71	415.08

Direct Expenses
Seed	43.33	42.68	43.82	43.17	43.72	43.08
Fertilizer	57.09	63.26	59.25	57.11	55.16	53.12
Crop chemicals	25.88	28.32	25.80	26.44	26.69	23.25
Crop insurance	12.04	12.54	12.45	11.52	11.16	12.63
Drying fuel	21.42	25.76	20.82	21.16	21.07	19.85
Fuel & oil	14.02	15.26	14.46	13.54	14.00	13.28
Repairs	22.24	26.45	22.59	21.90	21.86	19.97
Custom hire	4.31	6.56	5.12	3.94	3.88	2.89
Land rent	95.07	94.50	95.00	94.22	95.72	95.61
Machinery & bldg leases	1.33	3.55	1.26	1.53	0.54	0.58
Hauling and trucking	0.54	1.06	0.98	0.35	0.21	0.29
Marketing	1.00	0.97	1.69	0.80	0.82	0.74
Operating interest	6.55	7.63	7.11	6.73	6.00	5.71
Miscellaneous	1.56	1.69	1.75	1.69	1.35	1.38
Total direct expenses per acre	306.37	330.22	312.10	304.12	302.18	292.38
Return over direct exp per acre	45.07	-42.77	5.66	35.36	66.53	122.70

Overhead Expenses
Custom hire	1.76	2.60	2.06	1.44	1.84	1.17
Hired labor	6.28	5.10	5.64	6.36	6.68	7.13
Machinery & bldg leases	4.03	3.04	2.95	3.02	3.92	6.56
Farm insurance	4.46	4.11	4.80	4.10	4.62	4.53
Utilities	2.99	2.82	2.87	2.66	3.45	3.06
Dues & professional fees	1.19	1.20	1.12	1.15	1.21	1.28
Interest	5.58	6.61	5.75	5.10	5.64	5.14
Mach & bldg depreciation	22.01	22.62	20.64	20.77	22.98	23.03
Miscellaneous	4.54	4.89	4.08	4.60	3.99	5.20
Total overhead expenses per acre	52.84	52.99	49.91	49.20	54.33	57.09
Total dir & ovhd expenses per acre	359.22	383.21	362.02	353.32	356.51	349.48
Net return per acre	-7.77	-95.76	-44.26	-13.85	12.21	65.60

Lbr & mgt charge per acre	26.03	27.64	26.28	26.93	23.77	26.13
Net return over lbr & mgt	-33.81	-123.40	-70.53	-40.77	-11.56	39.47
Government payments	23.48	21.22	22.53	23.12	25.43	24.24
Net return with govt payments	-10.32	-102.19	-48.00	-17.66	13.87	63.71

Cost of Production
Total direct expense per bu.	1.92	2.31	2.06	1.91	1.82	1.71
Total dir & ovhd exp per bu.	2.25	2.68	2.39	2.22	2.15	2.04
With labor & management	2.41	2.88	2.56	2.38	2.29	2.19
Total exp less govt & oth income	2.12	2.65	2.27	2.12	2.02	1.84

Est. labor hours per acre	2.54	2.77	2.52	2.59	2.48	2.43