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	1181	221	247	240	225	248
Number of farms	1020	204	204	204	204	204

Acres	120.65	126.24	125.16	118.52	117.18	116.40
Yield per acre (bu.)	35.32	20.89	31.54	37.04	41.91	45.59
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	5.47	5.37	5.39	5.41	5.43	5.64
Total product return per acre	193.03	112.08	170.07	200.28	227.42	257.29
Miscellaneous income per acre	29.78	45.92	26.97	29.38	19.77	26.74
Gross return per acre	222.81	158.00	197.04	229.66	247.20	284.03

Direct Expenses
Seed	25.64	26.76	27.30	24.46	25.09	24.45
Fertilizer	4.95	8.74	5.41	6.13	2.51	1.88
Crop chemicals	17.31	18.87	17.74	16.84	16.80	16.27
Crop insurance	12.19	11.40	11.42	13.09	12.31	12.79
Drying fuel	0.17	0.21	0.02	0.56	0.00	0.05
Fuel & oil	11.33	12.08	10.72	11.46	11.47	11.01
Repairs	19.57	21.07	18.75	20.48	18.77	18.84
Custom hire	2.94	3.34	3.57	3.19	3.10	1.49
Machinery & bldg leases	0.37	0.69	0.17	0.53	0.33	0.17
Marketing	0.33	0.18	0.18	0.59	0.47	0.25
Operating interest	4.57	3.93	4.59	6.02	4.43	3.88
Miscellaneous	1.12	1.21	1.14	1.08	1.24	0.96
Total direct expenses per acre	100.51	108.49	101.01	104.43	96.50	92.04
Return over direct exp per acre	122.31	49.51	96.03	125.23	150.70	191.99

Overhead Expenses
Custom hire	1.74	2.27	1.85	1.54	1.07	1.93
Hired labor	4.99	4.19	4.51	6.22	5.29	4.78
Machinery & bldg leases	2.07	1.64	2.02	2.14	1.76	2.75
RE & pers. property taxes	10.73	7.55	9.37	11.09	12.81	12.99
Farm insurance	4.38	4.28	4.31	4.70	4.55	4.06
Utilities	2.72	2.72	2.65	2.84	2.63	2.77
Dues & professional fees	1.10	1.23	1.23	1.07	1.23	0.72
Interest	38.80	29.60	36.19	39.34	42.74	46.35
Mach & bldg depreciation	19.94	16.33	17.18	21.28	21.06	24.04
Miscellaneous	3.80	2.78	4.34	3.54	3.82	4.47
Total overhead expenses per acre	90.27	72.59	83.66	93.76	96.96	104.87
Total dir & ovhd expenses per acre	190.77	181.08	184.67	198.19	193.46	196.91
Net return per acre	32.04	-23.08	12.37	31.46	53.74	87.12

Lbr & mgt charge per acre	23.29	21.85	23.01	23.34	23.91	24.35
Net return over lbr & mgt	8.75	-44.92	-10.65	8.12	29.83	62.76
Government payments	21.07	16.00	19.40	23.31	23.49	23.32
Net return with govt payments	29.82	-28.92	8.76	31.44	53.32	86.08

Cost of Production
Total direct expense per bu.	2.85	5.19	3.20	2.82	2.30	2.02
Total dir & ovhd exp per bu.	5.40	8.67	5.85	5.35	4.62	4.32
With labor & management	6.06	9.71	6.58	5.98	5.19	4.85
Total exp less govt & oth income	4.62	6.75	5.11	4.56	4.15	3.75

Est. labor hours per acre	2.16	2.21	2.01	2.23	2.12	2.24