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	80	17	17	15	15	16
Number of farms	76	15	15	15	15	16

Acres	82.75	45.76	66.81	78.84	102.73	123.90
Yield per acre (ton)	2.28	1.33	1.67	2.14	2.52	2.90
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per ton	60.07	52.10	50.07	52.90	57.43	69.75
Total product return per acre	137.06	69.20	83.84	113.44	144.69	202.34
Miscellaneous income per acre	1.43	4.01	-	0.44	-	2.95
Gross return per acre	138.49	73.21	83.84	113.88	144.69	205.28

Direct Expenses
Seed	0.85	-	2.00	0.82	1.19	0.29
Fertilizer	13.54	14.16	13.88	10.57	17.86	11.53
Crop chemicals	0.19	0.39	-	0.53	-	0.18
Crop insurance	0.97	1.32	0.72	1.49	0.54	1.00
Fuel & oil	11.59	10.51	10.48	9.95	12.47	12.93
Repairs	18.84	15.65	14.65	17.14	18.21	23.99
Custom hire	2.18	10.60	3.06	1.24	0.25	0.44
Land rent	17.90	21.95	18.21	22.78	14.27	16.05
Machinery & bldg leases	0.57	-	0.36	-	-	1.70
Operating interest	2.09	3.32	1.32	3.42	2.23	1.16
Miscellaneous	2.29	2.03	2.07	0.60	5.55	1.00
Total direct expenses per acre	71.02	79.92	66.75	68.53	72.57	70.27
Return over direct exp per acre	67.47	-6.71	17.08	45.34	72.12	135.02

Overhead Expenses
Custom hire	2.53	0.22	2.90	1.52	1.68	4.49
Hired labor	5.41	0.89	2.34	2.65	5.76	10.32
Machinery & bldg leases	1.00	0.84	0.62	0.60	0.53	1.88
Farm insurance	2.12	4.16	1.48	1.96	1.57	2.20
Utilities	1.64	2.04	1.74	1.30	1.31	1.88
Dues & professional fees	0.28	0.89	0.13	0.41	0.06	0.23
Interest	3.94	4.65	3.93	1.80	3.74	5.10
Mach & bldg depreciation	14.45	14.71	10.97	10.19	18.73	15.56
Miscellaneous	2.97	2.46	3.08	1.87	3.97	2.98
Total overhead expenses per acre	34.34	30.88	27.19	22.31	37.34	44.63
Total dir & ovhd expenses per acre	105.36	110.80	93.95	90.84	109.91	114.90
Net return per acre	33.13	-37.59	-10.11	23.04	34.78	90.39

Lbr & mgt charge per acre	19.67	19.22	16.57	17.40	25.94	18.10
Net return over lbr & mgt	13.46	-56.81	-26.68	5.64	8.85	72.28
Government payments	7.98	7.60	6.18	10.47	5.81	9.36
Net return with govt payments	21.44	-49.21	-20.50	16.10	14.65	81.65

Cost of Production
Total direct expense per ton	31.13	60.16	39.87	31.96	28.81	24.22
Total dir & ovhd exp per ton	46.18	83.41	56.11	42.36	43.63	39.61
With labor & management	54.80	97.88	66.00	50.48	53.92	45.85
Total exp less govt & oth income	50.67	89.14	62.31	45.39	51.62	41.60

Est. labor hours per acre	3.29	2.63	2.84	2.35	3.86	3.92