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	37	7	7	6	6	11
Number of farms	28	5	6	5	6	6

Acres	212.30	308.52	83.59	124.33	598.75	70.18
Yield per acre (bu.)	158.12	152.15	149.02	155.69	163.88	157.22
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	2.09	1.95	1.97	2.03	2.14	2.34
Other product return per acre	1.24	-	-	-	-	12.61
Total product return per acre	331.66	297.44	293.99	315.31	351.33	380.21
Miscellaneous income per acre	33.73	2.78	21.67	28.35	51.51	51.94
Gross return per acre	365.39	300.22	315.67	343.66	402.84	432.15

Direct Expenses
Seed	43.88	41.57	41.35	40.94	46.41	43.28
Fertilizer	64.28	70.73	62.07	57.10	66.62	43.92
Crop chemicals	29.62	23.03	27.11	31.32	32.81	33.45
Crop insurance	11.72	8.57	11.76	11.90	13.54	11.90
Drying fuel	24.21	27.69	16.80	25.78	24.69	16.31
Irrigation energy	12.24	10.70	16.50	9.16	14.00	8.08
Fuel & oil	14.12	17.86	16.26	13.56	11.26	15.87
Repairs	21.83	18.27	20.30	16.18	27.02	14.20
Custom hire	3.90	1.66	3.75	1.89	3.30	14.97
Hired labor	0.49	1.77	-	-	-	-
Land rent	88.66	93.65	79.09	78.31	93.54	69.21
Machinery & bldg leases	2.11	5.84	-	1.50	-	3.70
Utilities	0.45	-	0.18	4.57	-	-
Hauling and trucking	1.24	2.07	-	-	0.39	4.96
Marketing	1.19	0.07	-	2.37	1.83	1.11
Operating interest	4.29	5.87	4.08	4.00	3.19	5.42
Miscellaneous	4.10	5.18	3.64	3.34	4.02	2.60
Total direct expenses per acre	328.31	334.53	302.88	301.94	342.63	288.97
Return over direct exp per acre	37.09	-34.31	12.79	41.71	60.20	143.18

Overhead Expenses
Custom hire	1.59	0.00	4.80	0.67	2.20	1.66
Hired labor	24.28	6.83	4.11	12.60	42.06	16.92
Machinery & bldg leases	4.80	1.66	7.76	5.52	3.72	15.64
Farm insurance	4.66	5.77	3.41	2.88	4.19	6.40
Utilities	2.06	0.93	1.99	1.49	2.08	5.75
Dues & professional fees	1.34	3.86	0.73	0.96	0.30	-
Interest	6.11	6.96	5.81	10.17	3.55	11.99
Mach & bldg depreciation	18.97	24.73	17.19	22.96	13.20	27.20
Miscellaneous	4.27	2.60	2.16	3.85	5.28	6.25
Total overhead expenses per acre	68.07	53.33	47.95	61.10	76.56	91.79
Total dir & ovhd expenses per acre	396.38	387.86	350.83	363.04	419.20	380.76
Net return per acre	-30.99	-87.64	-35.16	-19.38	-16.36	51.38

Lbr & mgt charge per acre	19.19	17.49	14.92	21.86	15.89	39.91
Net return over lbr & mgt	-50.17	-105.13	-50.08	-41.25	-32.25	11.47
Government payments	26.16	24.76	32.61	23.43	27.01	23.89
Net return with govt payments	-24.01	-80.37	-17.47	-17.82	-5.25	35.36

Cost of Production
Total direct expense per bu.	2.08	2.20	2.03	1.94	2.09	1.84
Total dir & ovhd exp per bu.	2.51	2.55	2.35	2.33	2.56	2.42
With labor & management	2.63	2.66	2.45	2.47	2.65	2.68
Total exp less govt & oth income	2.24	2.48	2.09	2.14	2.18	2.11

Est. labor hours per acre	3.78	2.35	3.02	3.31	5.12	2.57