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	305	73	64	56	58	54
Number of farms	252	50	50	51	50	51

Acres	148.83	195.99	138.37	182.38	121.28	92.25
Yield per acre (bu.)	55.53	40.40	57.27	61.09	65.49	70.48
Operators share of yield %	100.00	100.00	100.00	100.00	100.00	100.00
Value per bu.	3.40	3.23	3.30	3.45	3.54	3.56
Other product return per acre	0.12	-	-	-	-	1.10
Total product return per acre	189.10	130.61	189.19	210.95	231.59	252.12
Miscellaneous income per acre	11.34	17.04	10.98	7.57	4.53	12.99
Gross return per acre	200.44	147.65	200.17	218.52	236.12	265.11

Direct Expenses
Seed	11.91	10.77	12.85	11.76	12.54	12.90
Fertilizer	35.04	35.63	35.94	34.01	35.57	33.11
Crop chemicals	20.23	22.72	23.36	18.90	17.04	14.72
Crop insurance	9.26	10.40	8.70	9.18	8.22	8.63
Drying fuel	1.01	1.41	1.58	0.69	0.49	0.26
Fuel & oil	8.91	9.88	8.87	8.92	8.09	7.38
Repairs	13.78	14.29	14.70	12.46	14.36	12.58
Custom hire	3.30	3.57	3.48	4.56	2.09	1.33
Operating interest	2.96	3.39	2.38	2.95	3.02	2.71
Miscellaneous	0.62	0.51	0.63	0.33	0.72	1.40
Total direct expenses per acre	107.03	112.56	112.50	103.76	102.14	95.01
Return over direct exp per acre	93.41	35.09	87.67	114.76	133.98	170.10

Overhead Expenses
Custom hire	2.11	3.40	1.78	1.35	1.28	1.70
Hired labor	4.95	4.34	6.78	5.13	3.96	4.44
Machinery & bldg leases	1.50	1.61	1.28	1.43	1.84	1.19
RE & pers. property taxes	7.27	4.37	8.62	7.95	9.63	8.47
Farm insurance	3.99	3.52	4.88	3.47	4.76	3.74
Utilities	2.18	2.67	2.14	1.79	1.90	2.05
Dues & professional fees	1.39	1.28	1.78	1.24	1.35	1.34
Interest	22.82	15.25	23.33	26.41	30.06	26.10
Mach & bldg depreciation	12.57	13.18	14.22	10.47	11.50	13.71
Miscellaneous	1.88	1.05	2.48	2.05	2.16	2.46
Total overhead expenses per acre	60.65	50.66	67.29	61.30	68.45	65.19
Total dir & ovhd expenses per acre	167.68	163.22	179.79	165.06	170.59	160.20
Net return per acre	32.76	-15.57	20.37	53.46	65.53	104.91

Lbr & mgt charge per acre	16.45	17.44	16.99	15.42	15.34	16.32
Net return over lbr & mgt	16.31	-33.01	3.39	38.04	50.19	88.59
Government payments	14.64	13.28	14.76	15.39	14.40	17.12
Net return with govt payments	30.95	-19.73	18.15	53.43	64.59	105.70

Cost of Production
Total direct expense per bu.	1.93	2.79	1.96	1.70	1.56	1.35
Total dir & ovhd exp per bu.	3.02	4.04	3.14	2.70	2.60	2.27
With labor & management	3.32	4.47	3.44	2.95	2.84	2.50
Total exp less govt & oth income	2.85	3.72	2.99	2.58	2.55	2.06

Est. labor hours per acre	1.49	1.65	1.59	1.32	1.30	1.43