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	170	34	39	36	31	30
Number of farms	132	26	26	27	26	27

Acres	109.49	76.28	105.27	132.24	125.80	108.45
Yield per acre (bu.)	163.02	145.50	162.35	160.71	169.45	173.48
Operators share of yield %	55.34	57.93	55.77	53.42	55.30	55.79
Value per bu.	2.02	1.96	2.01	1.95	2.00	2.19
Total product return per acre	182.15	165.29	181.70	167.12	187.71	211.48
Miscellaneous income per acre	7.37	10.95	4.28	6.03	10.14	7.06
Gross return per acre	189.52	176.24	185.98	173.15	197.84	218.54

Direct Expenses
Seed	31.00	38.05	34.17	27.79	30.26	26.95
Fertilizer	38.34	48.63	42.55	35.29	35.09	33.20
Crop chemicals	17.42	22.12	23.74	14.95	13.96	13.46
Crop insurance	7.03	8.03	6.81	6.01	7.24	7.75
Drying fuel	13.00	14.17	15.62	13.66	9.62	11.87
Fuel & oil	13.35	15.65	14.13	12.23	12.95	12.63
Repairs	21.84	27.75	23.10	21.36	20.60	17.72
Custom hire	3.01	6.89	1.51	1.10	3.91	3.51
Machinery & bldg leases	0.46	1.93	0.21	0.11	0.49	0.10
Utilities	0.20	0.40	-	0.12	0.54	-
Operating interest	5.70	5.77	8.12	3.37	5.43	6.35
Miscellaneous	0.95	0.70	0.74	0.81	1.97	0.41
Total direct expenses per acre	152.31	190.10	170.70	136.81	142.05	133.95
Return over direct exp per acre	37.21	-13.86	15.28	36.34	55.79	84.59

Overhead Expenses
Custom hire	1.59	0.46	3.12	1.71	0.33	1.90
Hired labor	6.01	8.18	4.40	4.32	4.66	10.39
Machinery & bldg leases	3.43	2.62	5.25	1.23	4.19	4.11
Farm insurance	3.93	4.67	3.52	4.19	3.57	3.93
Utilities	3.04	3.37	2.90	3.63	2.29	2.99
Dues & professional fees	0.67	1.10	0.65	0.62	0.54	0.58
Interest	4.87	6.37	5.73	3.88	5.04	3.83
Mach & bldg depreciation	17.97	18.30	17.14	16.73	17.17	21.52
Miscellaneous	4.86	4.48	5.49	4.76	4.75	4.61
Total overhead expenses per acre	46.37	49.56	48.20	41.08	42.53	53.87
Total dir & ovhd expenses per acre	198.68	239.65	218.90	177.89	184.58	187.82
Net return per acre	-9.16	-63.41	-32.92	-4.74	13.26	30.72

Lbr & mgt charge per acre	26.24	27.01	28.38	28.07	23.38	23.67
Net return over lbr & mgt	-35.40	-90.42	-61.30	-32.81	-10.12	7.05
Government payments	13.76	14.23	13.77	12.35	14.20	14.88
Net return with govt payments	-21.64	-76.19	-47.53	-20.46	4.08	21.93

Cost of Production
Total direct expense per bu.	1.69	2.26	1.89	1.59	1.52	1.38
Total dir & ovhd exp per bu.	2.20	2.84	2.42	2.07	1.97	1.94
With labor & management	2.49	3.16	2.73	2.40	2.22	2.19
Total exp less govt & oth income	2.26	2.87	2.53	2.19	1.96	1.96

Est. labor hours per acre	2.46	2.81	2.20	2.45	2.41	2.60