2013 Projections

This spreadsheet may be used to estimate revenues and costs per crop. In the spreadsheet, revenue is
calculated by entering expected yield and price. Other income includes government payments and any
crop residue sales on a per acre basis. Line item estimates are listed below. These items are best
estimated from your records or expected costs in your area. Machinery operating costs include fuel, oil,
and repairs. The cost estimates are calculated using a "Machinery Cost Calculator". Price estimates for
diesel are $3.90 per gallon and an operating loan at 6.0%. "Blank lines" are left for costs that are material
and unique to your operation and may be inserted as needed. Machinery ownership costs are
depreciation, interest at 6%, insurance, and housing. Land is at rental rate.

Jack B. Davis, Crops Business Management Field Specialist

Paul O. Johnson, Agronomy Crops Field Specialist
Donald Guthmiller, Crop Business Management Field Specialist (Retired)
SDSU Extension

Special thanks to SDSU Extension and Industry Specialists for their input.

This spreadsheet is intended for educational purposes only.

DISCLAIMER
The authors and distributors of the template assume no liability for
use or misuse of this template or the decisions which result.
 Enter your cost estimates in yellow shaded cells. These will carry thru
to crop budget. Enter remaining costs on specific crop budget.

Table 1: Production Inputs Corn Table 2: Production Inputs Winter Wheat

Item Quantity Price Unit Cost/ac Item Quantity Price Unit Cost/ac
Seed 34.0 3.25 1,000 $ 110.50 Seed 120.0 0.18 3 $ 21.60
Fertilizer $ 155.40 Fertilizer (lbs) $ 136.64
N 180.0 0.56 lbs N 120.0 0.80 lbs
N lbs N 0.64 lbs
P 60.0 0.66 lbs P 52.0 0.57 lbs
K 20.0 0.55 lbs K 20.0 0.55 lbs
Lime lbs
Zinc 1.0 4.00 qt
Herbicide $ 24.50 Herbicide $ 9.94
Harness Extra 1.5 9.00 qt Wolfpack 0.8 5.00 pt
Roundup 44.0 0.25 oz Roundup 22.0 0.27 oz
Insecticide $ - Insecticide $ -

Fungicide $ - Fungicide $ 27.55

Stretgo 5.00 2.00
Prosaro 6.50 2.70

Table 3: Production Inputs Soybeans Table 4: Production Inputs Spring Wheat

Item Quantity Price Unit Cost/ac Item Quantity Price Unit Cost/ac
Seed 160.0 0.35 1,000 $ 56.00 Seed 120.0 0.18 lbs $ 21.60
Fertilizer (lbs) $ 46.28 Fertilizer (lbs) . $ 101.32
N 11.0 0.56 lbs N 100.0 0.56 lbs
N 0.66 lbs N lbs
P 52.0 0.56 lbs P 52.0 0.66 lbs
K 20.0 0.55 lbs K 20.0 0.55 lbs
lbs
lbs
Herbicide $ 12.18 Herbicide $ 9.94
Select 0.2 1.50 oz Wolfpack 0.8 5.00 pt
Roundup 44.0 0.27 oz Roundup 22.0 0.27 oz
Insecticide $ 9.52 Insecticide $ -
Baythroid 2.8 3.40 oz
Fungicide $ - Fungicide $ 12.80
Stretgo 5.00 1.00
Prosaro 6.50 1.20

Table 5: Production Inputs Sunflowers Table 6: Production Inputs Your Crop

Item Quantity Price Unit Cost/ac Item Quantity Price Unit Cost/ac
Seed 21.2 1.37 1,000 $ 29.04 Seed - 1.37 1,000 $ -
Fertilizer (lbs) $ 110.25 Fertilizer (lbs) $ -
N 120.0 0.80 lbs N - 0.80 lbs
N lbs N lbs
P 25.0 0.57 lbs P - 0.57 lbs
K 0.55 lbs K 0.55 lbs
lbs lbs
lbs lbs
Herbicide $ 39.00 Herbicide $ -
Spartan Adv. 1.0 24.00 qt - 24.00 qt
Prowl 3.0 5.00 pt - 5.00 pt
Insecticide $ - Insecticide $ -

Fungicide $ - Fungicide $ -
 Crop Budgets

2013
Corn
Continuous Corn Continuous Corn
Corn/Soybean Soybeans
on Corn Loss on Corn Loss
Rotation

10% 17%

Gross return 90% 83%

Estimated Yield 150 135 125 42
Estimated Selling price (new Crop) $ 4.89 $ 4.89 $ 4.89 $ 12.04
Value per acre $ 733.50 $ 660.15 $ 609.54 $ 505.68
Other income per acre $ - $ -
Gross Return per acre $ 733.50 $ 660.15 $ 609.54 $ 505.68

Direct costs per acre

Seed $ 110.50 $ 110.50 $ 110.50 $ 56.00
Fertilizer 155.40 $ 155.40 $ 155.40 46.28
Herbicide 24.50 $ 24.50 $ 24.50 12.18
Insecticide - $ - $ - 9.52
Fungicide - $ - $ - -
Crop Insurance 25.00 25.00 25.00 18.60
Machinery Costs (Operating) 50.00 48.00 47.00 45.00
Custom hire - - -
Drying 30.00 27.00 24.93
Operating Interest 15.82 15.62 15.49 7.50
Other variable costs - - -
- - -
Total direct costs per acre $ 411.22 $ 406.02 $ 402.82 $ 195.08
Return over direct cost per acre $ 322.28 $ 254.13 $ 206.72 $ 310.60
Total direct costs per bushel $ 2.74 $ 3.01 $ 3.23 $ 4.64

Machinery (Ownership Costs) $ 55.00 $ 55.00 $ 55.00 $ 55.00

Land Charge $ 160.00 $ 160.00 $ 160.00 $ 160.00

Page 4
 Crop Budgets
Total costs per acre $ 626.22 $ 621.02 $ 617.82 $ 410.08
Total cost ( breakeven) per bushel $ 4.17 $ 4.60 $ 4.96 $ 9.76
Return to management & labor per acre $ 107.28 $ 39.13 $ (8.28) $ 95.60
Breakeven yield 128 127 126 34

Page 5
 Crop Budgets

Spring Wheat

60
$ 7.69
$ 461.40
$ -
$ 461.40

$ 21.60
101.32
9.94
-
12.80
19.80
45.00

8.42

$ 218.88
$ 242.52
$ 3.65

$ 55.00
$ 160.00

Page 6
 Crop Budgets
$ 433.88
$ 7.23
$ 27.52
56

Page 7
 2013 SDSU Economics Dept. ADVANTAGE OF CROP 1 Over Crop 2
Corn Corn/Soybean Rotation
Avg Yield Avg Yield Avg Yield Lower Yield Lower Yield Lower Yield Higher Yield Higher Yield Higher Yield
Avg Price Lower Price Higher Price Avg Price Lower Price Higher Price Avg Price Lower Price Higher Price
Avg Yield Avg Price $12 $68 $158 $98 $223 $26 $122 $47 $290
Avg Yield Lower Price $113 $20 $260 $3 $122 $127 $223 $54 $392
Avg Yield Higher Price $89 $156 $57 $199 $324 $75 $21 $148 $189
Soybeans

Lower Yield Avg Price $88 $2 $234 $22 $147 $102 $198 $29 $366
Lower Yield Lower Price $174 $72 $320 $63 $61 $188 $284 $115 $452
Lower Yield Higher Price $2 $77 $148 $108 $233 $16 $112 $57 $280
Higher Yield Avg Price $64 $134 $83 $174 $299 $49 $46 $123 $215
Higher Yield Lower Price $52 $33 $199 $58 $183 $67 $162 $7 $331
Higher Yield Higher Price $180 $235 $34 $290 $415 $166 $70 $239 $98
INPUT SECTION (The Red numbers favor crop 2 and the Black numbers favor crop 1)
Corn Corn/Soybean Rotation Soybeans Results for Dominant Crop
Yield 150 Yield 42 Scenarios
Yield Range 15% Yield Range 15% Corn Corn/Soybean Ro 44
New Crop 1 Price $4.89 New Crop 2 Price $12.04 Soybeans 37
Price Range 20% Price Range 20%
Direct Costs/Acre $ 411.22 Direct Costs/Acre $195.08
 Projected 2013 Corn & Soybean Returns /Acre
Under Different Prices
Yields, other revenue and direct costs per acre comparison
Yield per acre
Corn Bu/Acre 150
Soybeans Bu/Acre 42

Other Revenue/acre
Corn $/Acre $ -
Soybeans $/Acre $ -
Total costs/acre (including land costs)
Corn $/Acre $ 626
Soybeans $/Acre $ 410

Returns to Labor & Management Corn Price Soybean Price

Enter projected price $ 6.00 $ 11.00

* Corn $/Acre $ 274

* Soybeans $/Acre $ 52
Corn Minus Soybeans returns $ 222
*Revenues - Total crop costs

Returns to Labor & Management Corn Price Soybean Price

$ 4.89 $ 12.04

* Corn $/Acre $ 107

* Soybeans $/Acre $ 96
Corn minus soybeans returns $ 12
 2013 SDSU Economics Dept. ADVANTAGE OF CROP 1 Over Crop 2
Spring Wheat
Avg Yield Avg Yield Avg Yield Lower Yield Lower Yield Lower Yield Higher Yield Higher Yield Higher Yield
Avg Price Lower Price Higher Price Avg Price Lower Price Higher Price Avg Price Lower Price Higher Price
Avg Yield Avg Price $47 $22 $140 $22 $100 $57 $117 $11 $223
Avg Yield Lower Price $149 $110 $241 $79 $1 $158 $218 $112 $324
Avg Yield Higher Price $54 $66 $39 $123 $201 $44 $16 $91 $122
Soybeans

Lower Yield Avg Price $123 $88 $216 $54 $24 $133 $193 $86 $299
Lower Yield Lower Price $209 $162 $302 $140 $62 $218 $278 $172 $385
Lower Yield Higher Price $37 $13 $130 $32 $110 $47 $107 $0 $213
Higher Yield Avg Price $28 $44 $64 $98 $176 $19 $41 $65 $147
Higher Yield Lower Price $88 $57 $180 $19 $60 $97 $157 $51 $263
Higher Yield Higher Price $145 $145 $52 $214 $292 $135 $76 $182 $31
INPUT SECTION (The Red numbers favor crop 2 and the Black numbers favor crop 1)
Spring Wheat Soybeans Results for Dominant Crop
Yield 60 Yield 42 Scenarios
Yield Range 15% Yield Range 15% Spring Wheat 55
Spring Wheat $7.69 Soybeans $12.04 Soybeans 26
Price Range 20% Price Range 20%
Direct Costs/Acre $ 218.88 Direct Costs/Acre $310.60