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	69	13	13	15	13	15
Number of farms	67	13	13	14	13	14

Acres	83.37	84.11	102.46	67.22	83.81	81.96
Yield per acre (ton)	6.47	5.43	6.16	6.56	7.14	7.08
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per ton	43.66	41.74	39.38	44.80	43.83	47.96
Total product return per acre	282.62	226.58	242.76	293.88	313.08	339.40
Miscellaneous income per acre	8.61	0.16	10.79	-	-	28.44
Gross return per acre	291.22	226.75	253.55	293.88	313.08	367.85

Direct Expenses
Fertilizer	48.02	58.21	48.93	46.07	41.40	45.44
Crop chemicals	26.62	28.24	28.89	34.06	21.59	21.04
Crop insurance	5.13	4.62	5.44	5.35	4.99	5.20
Fuel & oil	12.09	10.72	9.22	12.76	14.86	13.43
Repairs	19.81	20.26	16.91	21.77	21.51	19.41
Custom hire	2.69	1.93	2.26	3.57	1.67	4.02
Land rent	105.93	117.23	106.91	116.36	101.41	90.27
Machinery & bldg leases	1.40	0.72	5.26	0.20	-	0.04
Hauling and trucking	0.43	-	-	-	2.27	-
Operating interest	6.49	8.46	6.96	6.08	7.29	3.83
Miscellaneous	1.10	0.47	1.14	2.32	1.81	-
Total direct expenses per acre	229.70	250.87	231.91	248.55	218.80	202.68
Return over direct exp per acre	61.52	-24.12	21.64	45.33	94.28	165.16

Overhead Expenses
Custom hire	2.23	1.58	0.97	1.60	2.30	4.65
Hired labor	5.90	2.01	4.40	7.71	10.33	5.56
Machinery & bldg leases	1.37	1.42	0.18	2.46	2.03	1.12
Farm insurance	3.98	3.18	2.55	3.77	6.06	4.54
Utilities	2.56	2.31	2.02	2.18	3.08	3.23
Dues & professional fees	1.29	0.71	2.29	0.44	1.04	1.67
Interest	4.56	6.51	2.82	3.69	5.11	4.91
Mach & bldg depreciation	18.00	15.38	13.66	15.44	22.29	23.32
Miscellaneous	4.83	1.83	8.77	2.52	4.11	5.77
Total overhead expenses per acre	44.71	34.93	37.67	39.81	56.34	54.76
Total dir & ovhd expenses per acre	274.41	285.80	269.58	288.36	275.14	257.45
Net return per acre	16.81	-59.05	-16.03	5.51	37.94	110.40

Lbr & mgt charge per acre	23.40	24.22	24.11	22.84	24.72	21.19
Net return over lbr & mgt	-6.59	-83.27	-40.13	-17.32	13.21	89.21
Government payments	-	-	-	-	-	-
Net return with govt payments	-6.59	-83.27	-40.13	-17.32	13.21	89.21

Cost of Production
Total direct expense per ton	35.48	46.22	37.62	37.89	30.63	28.64
Total dir & ovhd exp per ton	42.39	52.65	43.73	43.96	38.52	36.38
With labor & management	46.00	57.11	47.64	47.45	41.98	39.38
Total exp less govt & oth income	44.67	57.08	45.89	47.45	41.98	35.36

Est. labor hours per acre	2.37	1.94	2.34	2.55	2.41	2.61