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	436	92	88	85	85	86
Number of farms	416	83	83	83	83	84

Acres	50.73	37.32	56.10	50.10	52.81	58.13
Yield per acre (ton)	4.21	2.80	3.49	4.09	4.75	5.52
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per ton	88.33	68.34	80.13	82.79	88.42	103.83
Total product return per acre	372.04	191.21	279.42	338.56	419.76	573.36
Miscellaneous income per acre	1.69	2.27	3.34	1.53	-	1.31
Gross return per acre	373.73	193.49	282.76	340.09	419.76	574.67

Direct Expenses
Fertilizer	17.98	23.92	18.97	19.53	17.76	11.79
Crop chemicals	3.12	1.13	2.71	2.71	3.92	4.50
Crop insurance	1.29	1.46	2.35	1.14	0.76	0.72
Fuel & oil	18.57	21.09	17.58	17.04	18.21	19.44
Repairs	33.54	33.53	32.34	32.17	36.23	33.48
Custom hire	11.18	10.50	11.52	12.52	12.90	8.62
Machinery & bldg leases	0.20	-	0.02	0.19	0.11	0.59
Operating interest	3.72	5.09	4.17	2.74	3.73	3.17
Miscellaneous	4.83	6.01	5.94	2.84	5.61	3.90
Total direct expenses per acre	94.41	102.74	95.58	90.89	99.23	86.21
Return over direct exp per acre	279.32	90.75	187.18	249.20	320.53	488.46

Overhead Expenses
Custom hire	4.31	4.15	6.06	5.63	4.62	1.31
Hired labor	13.30	7.21	8.65	11.39	15.08	22.09
Machinery & bldg leases	4.75	3.27	4.03	1.91	4.13	9.44
RE & pers. property taxes	8.36	7.03	7.81	8.37	7.68	10.42
Farm insurance	5.41	4.55	6.33	5.16	4.85	5.80
Utilities	3.77	4.33	3.83	3.81	3.77	3.29
Dues & professional fees	1.13	1.47	1.15	1.03	1.24	0.88
Interest	35.60	30.07	32.42	33.40	41.00	39.55
Mach & bldg depreciation	30.02	25.81	25.92	31.12	27.65	38.15
Miscellaneous	6.23	4.14	5.17	6.62	6.70	7.95
Total overhead expenses per acre	112.87	92.03	101.37	108.44	116.72	138.88
Total dir & ovhd expenses per acre	207.29	194.77	196.95	199.33	215.96	225.09
Net return per acre	166.44	-1.28	85.81	140.76	203.80	349.58

Lbr & mgt charge per acre	28.85	30.82	29.16	32.30	26.48	26.39
Net return over lbr & mgt	137.59	-32.10	56.65	108.46	177.32	323.19
Government payments	16.14	12.41	16.33	15.97	17.73	17.22
Net return with govt payments	153.73	-19.69	72.98	124.42	195.05	340.41

Cost of Production
Total direct expense per ton	22.42	36.72	27.41	22.23	20.90	15.61
Total dir & ovhd exp per ton	49.22	69.61	56.48	48.74	45.49	40.76
With labor & management	56.07	80.63	64.84	56.64	51.07	45.54
Total exp less govt & oth income	51.83	75.38	59.20	52.36	47.34	42.18

Est. labor hours per acre	4.44	3.94	3.87	4.56	4.49	5.18