Farm Business Management -- Reports -- State-wide Minnesota 2003

	Avg. Of
	All Farms	High 20%

Number of fields	21	5
Number of farms	21	5

Acres	17.57	20.80
Yield per acre (bu.)	77.51	83.59
Operators share of yield %	100.00	100.00
Value per bu.	1.52	1.70
Other product return per acre	11.32	19.38
Total product return per acre	129.37	161.36
Miscellaneous income per acre	64.47	127.85
Gross return per acre	193.84	289.21

Direct Expenses
Seed	47.36	47.95
Fertilizer	10.68	17.77
Crop chemicals	0.30	-
Crop insurance	1.24	1.92
Fuel & oil	9.84	8.43
Repairs	18.31	17.54
Custom hire	10.78	13.51
Hired labor	0.46	0.27
Machinery & bldg leases	0.69	0.52
Utilities	0.71	0.34
Hauling and trucking	0.16	0.57
Marketing	0.39	-
Operating interest	1.23	2.02
Miscellaneous	2.42	0.95
Total direct expenses per acre	104.58	111.80
Return over direct exp per acre	89.25	177.41

Overhead Expenses
Custom hire	1.58	2.70
Hired labor	3.87	5.50
Machinery & bldg leases	0.37	0.51
RE & pers. property taxes	7.61	8.96
Farm insurance	3.46	2.36
Utilities	1.42	1.12
Dues & professional fees	0.82	1.55
Interest	37.73	59.51
Mach & bldg depreciation	15.08	15.57
Miscellaneous	2.55	1.29
Total overhead expenses per acre	74.48	99.07
Total dir & ovhd expenses per acre	179.06	210.87
Net return per acre	14.77	78.34

Lbr & mgt charge per acre	16.91	13.05
Net return over lbr & mgt	-2.13	65.28
Government payments	19.12	19.01
Net return with govt payments	16.98	84.29

Cost of Production
Total direct expense per bu.	1.35	1.34
Total dir & ovhd exp per bu.	2.31	2.52
With labor & management	2.53	2.68
Total exp less govt & oth income	1.30	0.69

Est. labor hours per acre	2.23	1.89