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	1241	240	245	256	246	254
Number of farms	1104	220	221	221	221	221

Acres	113.00	82.35	104.78	120.02	125.99	130.22
Yield per acre (bu.)	160.18	116.69	143.10	162.38	172.65	185.70
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	2.04	1.94	1.99	2.01	2.06	2.13
Other product return per acre	0.09	0.23	0.04	0.22	-	-
Total product return per acre	327.36	226.73	284.83	327.13	354.85	394.94
Miscellaneous income per acre	24.32	22.59	22.88	19.18	20.06	35.24
Gross return per acre	351.68	249.31	307.71	346.31	374.91	430.18

Direct Expenses
Seed	43.02	39.96	42.10	43.56	44.01	44.11
Fertilizer	55.95	52.14	59.02	57.92	56.84	53.18
Crop chemicals	27.07	30.93	27.13	27.26	28.02	23.67
Crop insurance	10.50	8.80	10.67	11.66	10.18	10.61
Drying fuel	22.23	22.03	22.18	22.06	22.54	22.28
Fuel & oil	14.81	17.29	14.96	14.66	14.54	13.58
Repairs	26.15	31.02	26.69	27.10	25.02	23.01
Custom hire	4.88	7.74	6.69	4.39	4.16	2.90
Hired labor	0.27	0.12	0.52	0.40	0.09	0.20
Machinery & bldg leases	0.59	0.49	0.59	0.87	0.60	0.38
Hauling and trucking	0.73	1.32	0.81	0.73	0.24	0.78
Marketing	1.12	2.97	1.05	0.78	0.99	0.51
Operating interest	6.03	6.44	5.89	7.74	5.62	4.69
Miscellaneous	1.60	3.84	1.34	1.53	1.22	0.91
Total direct expenses per acre	214.96	225.08	219.63	220.67	214.09	200.80
Return over direct exp per acre	136.72	24.23	88.07	125.64	160.82	229.38

Overhead Expenses
Custom hire	1.95	2.84	2.12	1.90	1.57	1.71
Hired labor	6.79	6.43	7.51	7.30	5.89	6.82
Machinery & bldg leases	2.82	2.15	2.20	2.34	3.68	3.32
RE & pers. property taxes	11.64	9.25	10.46	11.87	12.43	13.01
Farm insurance	5.35	5.41	5.23	5.35	5.63	5.14
Utilities	3.46	3.67	3.36	3.50	3.60	3.23
Dues & professional fees	1.14	1.39	1.01	1.26	1.18	0.91
Interest	43.25	34.35	41.66	43.75	43.98	48.64
Mach & bldg depreciation	26.76	26.12	26.00	24.70	27.71	28.76
Miscellaneous	5.48	5.58	5.49	6.32	4.75	5.33
Total overhead expenses per acre	108.63	97.20	105.03	108.31	110.42	116.88
Total dir & ovhd expenses per acre	323.59	322.28	324.67	328.98	324.51	317.68
Net return per acre	28.08	-72.97	-16.96	17.33	50.40	112.50

Lbr & mgt charge per acre	29.13	29.91	29.58	29.20	29.09	28.29
Net return over lbr & mgt	-1.05	-102.88	-46.54	-11.87	21.31	84.21
Government payments	23.14	17.55	21.58	24.26	25.15	24.76
Net return with govt payments	22.09	-85.33	-24.96	12.39	46.46	108.97

Cost of Production
Total direct expense per bu.	1.34	1.93	1.53	1.36	1.24	1.08
Total dir & ovhd exp per bu.	2.02	2.76	2.27	2.03	1.88	1.71
With labor & management	2.20	3.02	2.48	2.21	2.05	1.86
Total exp less govt & oth income	1.91	2.67	2.16	1.94	1.79	1.54

Est. labor hours per acre	2.92	3.67	2.96	2.85	2.75	2.67