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	1863	322	349	402	404	386
Number of farms	1295	259	259	259	259	259

Acres	211.22	200.16	229.03	207.76	205.91	213.51
Yield per acre (bu.)	33.44	29.67	31.12	32.45	36.22	36.82
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	5.54	5.32	5.38	5.50	5.54	5.83
Total product return per acre	185.12	157.78	167.56	178.56	200.54	214.63
Miscellaneous income per acre	34.33	25.19	31.27	33.65	32.89	46.61
Gross return per acre	219.46	182.97	198.83	212.21	233.42	261.24

Direct Expenses
Seed	25.64	27.71	25.27	26.23	24.67	24.77
Fertilizer	4.69	5.87	5.34	5.31	4.01	3.20
Crop chemicals	16.40	18.85	17.73	15.09	16.43	14.52
Crop insurance	12.83	13.59	13.09	12.38	12.32	12.95
Fuel & oil	10.65	11.35	10.46	10.64	10.70	10.25
Repairs	16.96	18.68	17.89	17.24	16.29	15.12
Custom hire	2.65	4.96	2.58	2.56	2.26	1.42
Land rent	84.17	88.32	83.87	81.12	85.16	83.31
Machinery & bldg leases	0.90	2.48	1.39	0.30	0.43	0.25
Marketing	0.39	0.61	0.35	0.37	0.30	0.36
Operating interest	4.49	5.35	4.65	4.84	4.23	3.58
Miscellaneous	1.25	1.35	1.26	1.34	1.01	1.32
Total direct expenses per acre	181.03	199.12	183.88	177.41	177.81	171.05
Return over direct exp per acre	38.43	-16.15	14.95	34.81	55.61	90.19

Overhead Expenses
Custom hire	1.34	1.29	1.47	1.76	1.19	0.99
Hired labor	4.54	4.45	4.54	4.60	4.51	4.56
Machinery & bldg leases	2.86	2.55	2.33	2.90	3.13	3.30
Farm insurance	3.77	3.83	3.60	3.70	4.03	3.69
Utilities	2.32	2.32	2.36	2.20	2.42	2.28
Dues & professional fees	1.11	1.16	1.21	1.18	0.92	1.11
Interest	4.07	4.64	4.01	3.69	3.95	4.21
Mach & bldg depreciation	16.15	15.83	16.15	14.73	15.43	18.57
Miscellaneous	3.28	3.49	3.62	3.19	2.83	3.33
Total overhead expenses per acre	39.44	39.55	39.30	37.95	38.40	42.04
Total dir & ovhd expenses per acre	220.47	238.67	223.17	215.35	216.22	213.09
Net return per acre	-1.01	-55.70	-24.34	-3.14	17.21	48.16

Lbr & mgt charge per acre	20.59	20.63	20.38	20.22	21.19	20.54
Net return over lbr & mgt	-21.60	-76.33	-44.72	-23.36	-3.99	27.61
Government payments	21.04	19.91	19.87	20.55	22.76	21.83
Net return with govt payments	-0.56	-56.42	-24.85	-2.81	18.77	49.44

Cost of Production
Total direct expense per bu.	5.41	6.71	5.91	5.47	4.91	4.65
Total dir & ovhd exp per bu.	6.59	8.04	7.17	6.64	5.97	5.79
With labor & management	7.21	8.74	7.83	7.26	6.55	6.35
Total exp less govt & oth income	5.55	7.22	6.18	5.59	5.02	4.49

Est. labor hours per acre	1.86	1.84	1.88	1.93	1.83	1.80