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	203	37	43	47	38	38
Number of farms	160	32	32	32	32	32

Acres	107.90	98.35	113.52	122.63	113.45	87.07
Yield per acre (bu.)	35.48	27.01	31.89	38.26	37.53	42.56
Operators share of yield %	57.36	56.20	59.73	55.44	57.00	58.99
Value per bu.	5.45	5.52	5.54	5.35	5.40	5.54
Total product return per acre	111.00	83.84	105.44	113.43	115.45	139.04
Miscellaneous income per acre	15.37	22.52	15.51	4.36	15.34	26.52
Gross return per acre	126.37	106.36	120.95	117.78	130.80	165.56

Direct Expenses
Seed	20.46	24.79	23.34	18.74	19.32	15.94
Fertilizer	2.84	7.05	3.60	1.66	1.85	0.44
Crop chemicals	11.74	15.05	14.75	10.25	9.24	9.50
Crop insurance	8.25	9.71	8.98	6.08	8.77	8.67
Fuel & oil	10.36	11.41	10.84	10.39	9.29	9.88
Repairs	17.38	20.58	18.23	17.13	15.03	16.11
Custom hire	2.23	2.94	2.14	1.00	2.20	3.77
Machinery & bldg leases	0.35	0.22	1.01	0.20	0.18	-
Operating interest	4.25	4.62	3.33	5.30	3.98	3.69
Miscellaneous	0.44	0.21	0.50	0.44	0.69	0.30
Total direct expenses per acre	78.30	96.58	86.71	71.19	70.56	68.29
Return over direct exp per acre	48.07	9.78	34.24	46.60	60.24	97.27

Overhead Expenses
Custom hire	1.68	2.46	2.41	1.33	0.36	2.06
Hired labor	4.70	6.30	5.01	5.14	2.79	4.22
Machinery & bldg leases	2.65	2.11	2.30	3.35	3.52	1.43
Farm insurance	3.48	3.19	4.44	3.48	2.42	3.75
Utilities	2.46	2.33	3.04	2.22	1.81	3.02
Dues & professional fees	0.86	0.96	1.06	0.75	0.71	0.85
Interest	3.79	4.17	3.43	4.37	3.20	3.69
Mach & bldg depreciation	13.95	13.61	10.92	14.72	17.63	12.64
Miscellaneous	3.77	3.16	3.62	3.83	2.68	5.98
Total overhead expenses per acre	37.34	38.29	36.23	39.18	35.12	37.62
Total dir & ovhd expenses per acre	115.64	134.87	122.93	110.37	105.68	105.91
Net return per acre	10.73	-28.51	-1.99	7.42	25.12	59.65

Lbr & mgt charge per acre	21.35	19.81	20.99	20.82	22.69	22.76
Net return over lbr & mgt	-10.62	-48.32	-22.97	-13.40	2.43	36.89
Government payments	12.99	13.54	11.16	12.35	13.77	15.19
Net return with govt payments	2.37	-34.78	-11.82	-1.05	16.20	52.08

Cost of Production
Total direct expense per bu.	3.85	6.36	4.55	3.36	3.30	2.72
Total dir & ovhd exp per bu.	5.68	8.88	6.45	5.20	4.94	4.22
With labor & management	6.73	10.19	7.56	6.18	6.00	5.13
Total exp less govt & oth income	5.34	7.81	6.16	5.40	4.64	3.46

Est. labor hours per acre	1.93	1.83	1.76	1.95	2.10	2.04