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	348	67	69	68	72	72
Number of farms	328	65	66	65	66	66

Acres	49.18	39.39	59.39	49.75	43.56	53.61
Yield per acre (ton)	18.23	13.57	16.38	18.10	19.63	22.34
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per ton	19.05	18.13	17.89	18.36	19.32	20.63
Total product return per acre	347.25	246.09	293.05	332.43	379.32	460.92
Miscellaneous income per acre	22.36	10.78	14.87	20.24	33.32	31.16
Gross return per acre	369.61	256.87	307.92	352.67	412.64	492.09

Direct Expenses
Seed	39.20	39.86	37.83	38.56	38.89	41.03
Fertilizer	37.54	40.25	37.67	40.37	33.23	36.58
Crop chemicals	28.64	31.10	29.87	26.77	29.22	26.83
Crop insurance	8.23	8.39	8.12	9.09	8.42	7.33
Fuel & oil	20.16	18.59	21.24	18.76	20.82	20.79
Repairs	29.95	34.68	32.63	27.97	28.40	26.88
Custom hire	22.71	34.41	17.09	24.74	29.49	13.38
Hired labor	0.17	0.04	0.61	-	0.12	0.00
Land rent	64.31	65.53	64.10	67.90	63.33	61.36
Machinery & bldg leases	0.30	0.11	0.73	0.43	0.01	0.11
Operating interest	3.95	3.49	5.07	3.83	2.83	4.10
Miscellaneous	6.19	6.22	12.17	4.68	4.15	2.82
Total direct expenses per acre	261.38	282.66	267.14	263.11	258.92	241.22
Return over direct exp per acre	108.23	-25.79	40.78	89.55	153.71	250.87

Overhead Expenses
Custom hire	6.70	4.49	4.76	2.41	8.90	12.23
Hired labor	15.11	11.42	19.14	14.85	13.21	15.12
Machinery & bldg leases	5.27	3.85	3.66	6.81	3.47	8.05
Farm insurance	4.05	4.07	3.86	3.67	4.95	3.84
Utilities	2.92	3.51	2.91	2.53	3.24	2.61
Dues & professional fees	1.10	1.90	1.44	0.58	1.28	0.52
Interest	8.06	7.78	6.55	9.15	7.85	9.05
Mach & bldg depreciation	25.88	25.35	24.88	25.74	26.67	26.81
Miscellaneous	4.61	4.52	4.53	3.74	6.45	4.02
Total overhead expenses per acre	73.69	66.90	71.73	69.47	76.02	82.24
Total dir & ovhd expenses per acre	335.08	349.55	338.87	332.59	334.94	323.46
Net return per acre	34.53	-92.68	-30.95	20.08	77.70	168.63

Lbr & mgt charge per acre	28.37	29.71	27.26	27.09	28.09	30.00
Net return over lbr & mgt	6.16	-122.39	-58.21	-7.01	49.61	138.63
Government payments	16.25	16.77	15.02	18.15	15.69	16.01
Net return with govt payments	22.41	-105.62	-43.19	11.13	65.30	154.64

Cost of Production
Total direct expense per ton	14.34	20.82	16.31	14.53	13.19	10.80
Total dir & ovhd exp per ton	18.38	25.75	20.69	18.37	17.06	14.48
With labor & management	19.94	27.94	22.35	19.87	18.49	15.82
Total exp less govt & oth income	17.82	25.91	20.52	17.75	16.00	13.71

Est. labor hours per acre	5.35	4.51	5.46	5.22	5.17	6.07