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	522	106	101	102	103	110
Number of farms	367	73	73	74	73	74

Acres	227.04	243.98	238.70	234.45	238.29	182.58
Yield per acre (bu.)	59.96	52.04	56.86	62.07	63.95	66.50
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	3.39	3.15	3.26	3.44	3.44	3.66
Other product return per acre	0.06	-	-	0.10	-	0.23
Total product return per acre	203.45	163.69	185.49	213.85	219.97	243.64
Miscellaneous income per acre	7.02	7.75	7.93	3.61	7.52	8.45
Gross return per acre	210.47	171.45	193.42	217.46	227.49	252.09

Direct Expenses
Seed	11.89	11.28	11.89	12.77	11.61	12.00
Fertilizer	34.73	37.70	33.53	34.83	34.07	33.03
Crop chemicals	21.20	28.49	22.77	18.81	19.89	14.38
Crop insurance	9.69	10.50	9.31	9.43	10.42	8.54
Drying fuel	1.11	1.64	1.00	0.82	1.27	0.69
Fuel & oil	8.49	9.20	8.59	8.43	8.50	7.51
Repairs	12.95	14.30	12.92	12.68	12.38	12.29
Custom hire	3.38	5.76	3.72	2.77	2.79	1.37
Land rent	55.00	47.88	55.76	60.90	52.98	58.73
Operating interest	2.55	3.11	3.05	2.30	2.33	1.78
Miscellaneous	1.02	1.37	1.13	0.56	0.81	1.25
Total direct expenses per acre	162.02	171.22	163.67	164.31	157.04	151.56
Return over direct exp per acre	48.45	0.22	29.75	53.15	70.46	100.52

Overhead Expenses
Custom hire	1.89	3.00	1.32	1.33	1.76	1.95
Hired labor	5.04	5.71	5.89	4.15	5.27	3.94
Machinery & bldg leases	1.85	1.62	1.88	2.24	1.64	1.90
Farm insurance	3.96	4.43	4.31	3.91	3.44	3.62
Utilities	1.86	2.13	2.01	1.57	1.76	1.82
Dues & professional fees	1.41	1.57	1.54	1.27	1.24	1.42
Interest	2.70	2.51	2.99	2.68	2.44	2.97
Mach & bldg depreciation	10.86	11.55	10.84	9.82	10.81	11.28
Miscellaneous	1.99	1.59	1.95	2.12	2.27	2.08
Total overhead expenses per acre	31.56	34.11	32.73	29.07	30.62	30.98
Total dir & ovhd expenses per acre	193.58	205.33	196.40	193.38	187.65	182.54
Net return per acre	16.89	-33.89	-2.98	24.08	39.84	69.54

Lbr & mgt charge per acre	15.95	17.13	14.53	16.21	16.91	14.65
Net return over lbr & mgt	0.94	-51.02	-17.52	7.87	22.93	54.89
Government payments	15.66	15.65	16.16	15.95	15.22	15.27
Net return with govt payments	16.60	-35.37	-1.35	23.82	38.15	70.16

Cost of Production
Total direct expense per bu.	2.70	3.29	2.88	2.65	2.46	2.28
Total dir & ovhd exp per bu.	3.23	3.95	3.45	3.12	2.93	2.75
With labor & management	3.49	4.27	3.71	3.38	3.20	2.97
Total exp less govt & oth income	3.12	3.82	3.29	3.06	2.84	2.61

Est. labor hours per acre	1.34	1.47	1.33	1.29	1.37	1.20