Agricultural economics

SOYBEANS
PLANNING BUDGETS
Mississippi State University
Department of Agricultural Economics
Budget Report 2012-03
December 2012
Foreword
This report is designed to provide necessary planning data to farmers, research and extension staffs, lending agencies, and others in agriculture. Readers are cautioned that returns
presented are labeled "Returns Above Specified Expenses." Estimated costs for land,
management, and general farm overhead are not included in this report. The exception is
unallocated labor, which is included. "Returns Above Direct Expenses" should be used in
making 2013 planning decisions. This would be a one-year short-run decision. Decisions
beyond one year, or long-run decisions, should be based on "Returns Above Specified
Expenses."
Acknowledgments
A list of individuals who contributed to the development of the agricultural enterprise budgets follows this acknowledgment. The administrative committee structure and enterprise committees have shown a spirit of cooperation seldom found when so many work together. A team effort has led to many improvements in the budgets over the years. Special appreciation is expressed to producers who provided information on crop practices used. Appreciation also is expressed to farm supply dealers, equipment dealers, custom operators, and chemical companies who provided prices for crop production inputs. The Mississippi Agricultural Statistics Service is commended for its excellence in collecting price and production practice data. Acknowledgment is made to the Mississippi State University Extension Service, the Mississippi Agricultural and Forestry Experiment Station, and the United States Agricultural Research Service staffs for the excellent cooperation that made this report possible. The mention in this report of any commercial product does not imply its endorsement by MSU-ES, MAFES, or USDA over other products not named nor does the omission imply they are not satisfactory. Committees

Corn, Grain Sorghum, and Wheat
Soybeans
Vegetables
Fruit & Nut
Nathan Buehring, MSU-ES H. C. Pringle, MAFES Supporting Committees
Equipment
Documentation and Data Processing
Publication Review
Table of Contents
Foreword . i Acknowledgments . i 2013 Budget Committees . ii 2013 Planning Budgets . 1 Budgets for Agricultural Enterprises . 1 Methods and Procedures . 1 Production Practices . 1 Machinery . 1 Estimates of Direct Costs . 2 Estimates of Fixed Costs. 2 Estimates of Returns . 3 Irrigation Costs . 3 Soybeans, early-planted, RR, stale seedbed, 12R 30” Delta Area . 6 Soybeans, early-planted, RR, stale seedbed, 12R 30” Furrow irrigated, 9 ac-in., Delta Area . 12 Soybeans, May-planted, RR, 12R 30” Delta Area . 18 Soybeans, May-planted, RR, 12R 30” Flood irrigated, 13.5 ac-in., Delta Area . 24 Pivot irrigated, 7.5 ac-in., Delta Area. 30 6 Soybeans, early-planted, RR, reduced tillage, 12R 30” Non-Delta Area . 36 Soybeans, May-planted, RR, convent. tillage, 12R 30” Non-Delta Area . 42 8 Soybeans after wheat, RR, no-till, 12R 30” Tractors/Harvesters: estimated purchase price, annual use, useful life, fuel use, and direct and fixed costs per hour . 56 2 Self-propelled machines: estimated purchase price, annual use, useful life, fuel use, performance rate, and direct and fixed costs per acre . 57 Towed equipment: estimated purchase price, annual use, useful life, performance rate, and direct and fixed costs per acre . 58 Estimated fuel prices and interest rates . 69 Labor types, wage rates and unallocated labor multipliers for crop enterprises. 69 Futures contract prices, basis levels, forward contract prices, and loan rates used in row crop budgets . 70 Early soybeans irrigated with roll-out pipe 160-acre system, 9 ac-in., Delta Area . 71 80-acre system, 13.5 ac-in., Delta Area . 72 Irrigation with a ½-mile center pivot system 530-acre system, 7.5 ac-in., Delta Area . 73 2013 Planning Budgets

Budgets for Agricultural Enterprises
Methods and Procedures
Production Practices
technical information in the form of enterprise budgets for a major crop produced by Mississippi farmers. A multidisciplinary approach involving budget are the result of a combined effort by researchers and extension personnel was used to researchers and extension personnel to represent determine production practices and input those practices that producers could use in a quantities, and to estimate costs and returns for specific production system. Producers might use each enterprise (14). The purpose of this section different practices in their own operations. If is to present the methods and procedures used to different types and quantities of operating inputs calculate costs and returns for each budget are to be used, then the budgeted expenses should be changed to more accurately reflect actual input usage. The Mississippi Agricultural information that can be used by a wide variety of Statistics Service conducts a survey of producers individuals in making decisions in the food and of major field crops in Mississippi. Data collected from producers are a part of the information used in selecting the practices disciplines from the Mississippi Agricultural and Forestry Experiment Station, the Mississippi State University Extension Service, and the U.S. Department of Agriculture review and update the practices in the budgets every year. The updates are based on the collective judgment of the committee members. Quantities of materials and to inform non-farmers of the costs incurred individual production practices budgeted are by farmers in the production of food and based on survey data from producers and/or A budget should be prepared with a specific objective in mind. The budgets in this report were prepared to provide general information for Machinery
several different uses. They provide information concerning general levels of costs and returns Machinery manufacturers form the basis for which will need to be adjusted for specific machinery prices used in these publications. situations. Most users should think of these Prices by size of equipment are determined from budgets as a first approximation and then make the most common sales in each category as appropriate adjustments using the "Your Farm" reported by machinery dealers. Prices used in the column provided on each budget to add, delete, budgets reflect prices paid by farmers in 2012. or change costs or incomes to reflect their A performance rate reflects the time required to perform a given task or operation and is expressed as that part of an hour per acre. Previous studies and expert knowledge of the equipment committee members are used to estimate performance rates for new and larger equipment (1, 4, 5, 6, 7, 9, and 13). The hours of annual use have been modified the in-field tasks. Operator labor is that labor based on information collected from the cited required to operate all power-driven equipment. Irrigation labor is used to perform tasks Repairs and maintenance as a percentage of associated with an irrigation system. Unallocated new cost are estimated for the life of the labor is an estimate of labor that is not used equipment and include oil and lubricants (1, 4, directly in producing the enterprise. Its cost is estimated as a percentage of operator labor (11). The percentages used for the various crop enterprises are listed in Appendix Table 6. Estimates of Direct Costs
Interest on operating capital is determined by using a short-term interest rate obtained from agricultural lenders and making a charge against repairs and maintenance (R&M) for all capital outflows as the production process takes machinery and include fuel costs for powered place. Interest is accumulated until the crop is machinery (Appendix Tables 1, 2, and 3). Direct costs are estimated on an hourly basis and are then converted to a per-acre basis using the performance rate for the particular operation. Estimates of Fixed Costs
R&M costs for towed equipment and powered Annual fixed cost estimates for machinery are based on a budgeting technique which computes the annual capital recovery charge (2, p. 143). When a combination of machines or equipment is required to perform a single operation, the total cost per acre for all The fixed cost of machinery ownership is calculated by first computing the capital recovery factor and then using it to estimate the annual RP = R&M percentage (percent of RLC) Direct costs include an estimate of fuel cost based on average fuel consumption per hour of use for the power unit. Other components of direct costs include quantities of materials used in production multiplied by the price per unit of these inputs, custom rates, hourly wage rates, and interest charges on operating capital (Appendix The labor wage rate per hour includes social security, accident and unemployment insurance, and some perquisites (11). Labor costs are estimated for four labor categories: operator CRCPY = Capital recovery charge per year labor, hand labor, irrigation labor, and unallocated labor. Operator labor and hand labor SV = Salvage value (at end of useful life) represent estimates of labor required to perform This value is then converted to its per-hour and A special table is presented to illustrate the effects of alternative levels of yields and prices on net returns. The budgeted yield and the budgeted price are used as base values (100 percent). Yields are then varied from 50 to 150 percent of the base yield while prices are varied from 75 to 125 percent of the base price. Net returns are computed for each combination of yield and price. Irrigation Costs
CRCPH = Capital recovery charge per hour Estimated costs of various irrigation systems are presented in Appendix Tables 8, 9, and 10. A CRCPA = Capital recovery charge per acre dryland crop budget may be converted to an irrigated crop budget by adding the appropriate direct and fixed costs to the costs of the dryland crop. Also, adjustments in crop yields and other Estimates of Returns
costs may be required with the addition of It is difficult to estimate crop yields that may be expected for a particular production system in a given year. Crop yields used in the budgets are Net Returns
representative of historical yields modified to match the production system used to produce the Net returns are generally considered to be the yield. All yields including conventional, no- amount left after subtracting all costs from all tillage, irrigation, and double-cropping are incomes for a particular enterprise. In these tempered with unpublished research and judgments of the commodity committees. Producers should use yield estimates that are reflective of their own SPECIFIED EXPENSES” are used as a proxy for the economic concepts of net returns above To estimate returns, a price for the commodity variable costs and net returns above variable plus fixed costs, respectively. Some items are determine their own expected price for the intentionally left out of these calculations, i.e., commodity. Commodity prices used in this report costs for land or land rent, taxes, insurance represent the higher of a calculated forward premiums, general farm overhead, and expected contract price or the loan rate that was applicable incomes from government payments or insurance for the 2012 crop year. Government payments for payments. These costs and incomes vary widely commodities are not included in the budgets except among farms and farm situations so as to make to the extent that they are included in loan rates. routine calculation for representative situations The futures price for an appropriate contract impractical. These items should, however, be month is determined by averaging the closing considered by each producer and factored into the prices for the month of October. The basis is final budget each producer develops for his own determined by subtracting the average daily cash price for the month of October from the average daily closing price of the near contract month. These average futures prices and the basis adjustments are presented in Appendix Table 7. Table 1.A Estimated costs per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 3.5000 21.00 _________ HARVEST AIDS Paraquat oz 0.25 8.0000 2.00 _________ Sodium Chlorate 3L gal 3.45 0.5000 1.73 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.2800 8.20 _________ Potash (60% K2O) cwt 29.80 0.4000 11.92 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Headline EC oz 2.81 3.0000 8.43 _________ HERBICIDES Glyphosate 3lbs a.e pt 1.79 6.0000 10.74 _________ 2,4-D Amine 4 pt 2.54 2.0000 5.08 _________ Valor SX oz 5.55 2.0000 11.10 _________ Prefix pt 6.84 2.0000 13.68 _________ INSECTICIDES Karate Z oz 3.15 0.9600 3.02 _________ Acephate 90SP lb 6.56 0.7500 4.92 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.1000 0.35 _________ HAULING Haul Soybeans/Field bu 0.28 42.0000 11.76 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2000 9.00 _________ INOCULANT Nitrastick S lbseed 0.02 50.0000 1.25 _________ OPERATOR LABOR Tractors hour 11.71 0.3258 3.82 _________ Harvesters hour 11.71 0.1021 1.20 _________ HAND LABOR Implements hour 9.06 0.1127 1.02 _________ UNALLOCATED LABOR hour 11.73 0.3852 4.52 _________ DIESEL FUEL Tractors gal 3.50 3.1870 11.17 _________ Harvesters gal 3.50 1.3935 4.88 _________ REPAIR & MAINTENANCE Implements acre 4.10 1.0000 4.10 _________ Tractors acre 1.58 1.0000 1.58 _________ Harvesters acre 2.76 1.0000 2.76 _________ INTEREST ON OP. CAP. acre 4.71 1.0000 4.71 _________ --------- TOTAL DIRECT EXPENSES 222.45 _________ FIXED EXPENSES Implements acre 8.57 1.0000 8.57 _________ Tractors acre 10.04 1.0000 10.04 _________ Harvesters acre 11.04 1.0000 11.04 _________ --------- TOTAL FIXED EXPENSES 29.65 _________ --------- TOTAL SPECIFIED EXPENSES 252.10 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 1.B Summary of estimated costs and returns per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars INCOME Soybeans bu 13.05 42.0000 548.10 _________ --------- TOTAL INCOME 548.10 _________ DIRECT EXPENSES CUSTOM SPRAY acre 21.00 1.0000 21.00 _________ HARVEST AIDS acre 3.73 1.0000 3.73 _________ FERTILIZERS acre 20.12 1.0000 20.12 _________ FUNGICIDES acre 14.94 1.0000 14.94 _________ HERBICIDES acre 40.60 1.0000 40.60 _________ INSECTICIDES acre 7.94 1.0000 7.94 _________ SEED/PLANTS acre 52.00 1.0000 52.00 _________ ADJUVANTS acre 0.35 1.0000 0.35 _________ HAULING acre 11.76 1.0000 11.76 _________ CUSTOM LIME acre 9.00 1.0000 9.00 _________ INOCULANT acre 1.25 1.0000 1.25 _________ HAND LABOR hour 9.06 0.1127 1.02 _________ OPERATOR LABOR hour 11.71 0.4280 5.02 _________ UNALLOCATED LABOR hour 11.73 0.3852 4.52 _________ DIESEL FUEL gal 3.50 4.5806 16.05 _________ REPAIR & MAINTENANCE acre 8.44 1.0000 8.44 _________ INTEREST ON OP. CAP. acre 4.71 1.0000 4.71 _________ --------- TOTAL DIRECT EXPENSES 222.45 _________ RETURNS ABOVE DIRECT EXPENSES 325.65 _________ TOTAL FIXED EXPENSES 29.65 _________ --------- TOTAL SPECIFIED EXPENSES 252.10 _________ RETURNS ABOVE TOTAL SPECIFIED EXPENSES 296.00 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 1.C Estimated resource use for field operations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR _________________________________________________________________________________________________________ -------------hours------------ Subsoiler 3 shank MFWD 190 0.204 0.20 Oct 0.04 0.04 0.04 0.03 Lime (Spread) ton 0.20 Oct 0.2000 Spin Spreader 5 ton MFWD 190 0.042 0.40 Oct 0.01 0.01 0.03 0.01 Phosphorus(46% P2O5) cwt 0.2800 Potash (60% K2O) cwt 0.4000 Disk Harrow 24' MFWD 190 0.081 1.00 Oct 0.08 0.08 0.08 0.07 Field Cultivate Fld 24' MFWD 190 0.062 1.00 Oct 0.06 0.06 0.06 0.05 App by Air ( 5 gal) appl 1.00 Feb 1.0000 Glyphosate 3lbs a.e pt 2.0000 2,4-D Amine 4 pt 2.0000 Plant & Pre-Folding 12R-30 MFWD 190 0.067 1.00 Apr 0.06 0.06 0.13 0.06 Soybean Seed RR2 lb 50.0000 CruiserMaxx oz 1.6000 Nitrastick S lbseed 50.0000 Valor SX oz 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Prefix pt 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 App by Air ( 5 gal) appl 0.50 Jul 0.5000 Headline EC oz 3.0000 App by Air ( 5 gal) appl 0.50 Jul 0.5000 Karate Z oz 0.9600 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Acephate 90SP lb 0.7500 App by Air ( 5 gal) appl 0.50 Aug 0.5000 Paraquat oz 8.0000 Sodium Chlorate 3L gal 0.5000 Surfactant pt 0.1000 Header -Soybean 25' Flex 265 hp 0.102 1.00 Sep 0.10 0.10 0.10 0.09 Haul Soybeans/Field bu 42.0000 ------- ------- ------- ------- TOTALS 0.42 0.42 0.54 0.38 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 1.D Estimated costs for field operations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST _________________________________________________________________________________________________________ ---------------------------------dollars-------------------------------- Subsoiler 3 shank 1.40 0.25 0.91 0.11 2.67 1.38 4.05 Lime (Spread) ton 9.00 0.38 9.38 9.38 Spin Spreader 5 ton 0.58 0.18 0.53 0.05 1.34 0.73 2.07 Phosphorus(46% P2O5) cwt 8.20 0.35 8.55 8.55 Potash (60% K2O) cwt 11.92 0.51 12.43 12.43 Disk Harrow 24' 2.80 1.18 1.82 0.25 6.05 4.23 10.28 Field Cultivate Fld 24' 2.13 0.68 1.39 0.18 4.38 3.57 7.95 App by Air ( 5 gal) appl 6.00 0.17 6.17 6.17 Glyphosate 3lbs a.e pt 3.58 0.10 3.68 3.68 2,4-D Amine 4 pt 5.08 0.14 5.22 5.22 Plant & Pre-Folding 12R-30 2.32 2.05 2.11 0.14 6.62 5.44 12.06 Soybean Seed RR2 lb 52.00 1.11 53.11 53.11 CruiserMaxx oz 6.51 0.14 6.65 6.65 Nitrastick S lbseed 1.25 0.03 1.28 1.28 Valor SX oz 11.10 0.24 11.34 11.34 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 Prefix pt 13.68 0.24 13.92 13.92 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 App by Air ( 5 gal) appl 3.00 0.03 3.03 3.03 Headline EC oz 8.43 0.09 8.52 8.52 App by Air ( 5 gal) appl 3.00 0.03 3.03 3.03 Karate Z oz 3.02 0.03 3.05 3.05 App by Air ( 5 gal) appl 6.00 0.04 6.04 6.04 Acephate 90SP lb 4.92 0.03 4.95 4.95 App by Air ( 5 gal) appl 3.00 0.02 3.02 3.02 Paraquat oz 2.00 0.01 2.01 2.01 Sodium Chlorate 3L gal 1.73 0.01 1.74 1.74 Surfactant pt 0.35 0.35 0.35 Header -Soybean 25' Flex 4.88 3.52 2.28 0.04 10.72 12.20 22.92 Haul Soybeans/Field bu 11.76 0.04 11.80 11.80 ------- ------- ------- ------- ------- ------- ------- ------- ------- TOTALS 182.69 16.05 8.44 10.56 0.00 4.71 222.45 29.65 252.10 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 1.E Estimated monthly income and expense flows per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 548.10 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 6.00 0.00 0.00 0.00 0.00 6.00 9.00 0.00 HARVEST AIDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.73 0.00 FERTILIZERS 20.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 0.00 8.43 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 8.66 0.00 11.10 20.84 0.00 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.02 4.92 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.76 CUSTOM LIME 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INOCULANT 0.00 0.00 0.00 0.00 0.00 0.00 1.25 0.00 0.00 0.00 0.00 0.00 LABOR 4.65 0.00 0.00 0.00 0.00 0.00 2.11 1.52 0.00 0.00 0.00 2.28 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 6.91 0.00 0.00 0.00 0.00 0.00 2.32 1.94 0.00 0.00 0.00 4.88 REPAIR & MAINTENANCE 2.29 0.00 0.00 0.00 0.00 0.00 2.05 0.58 0.00 0.00 0.00 3.52 INTEREST ON OP. CAP. 1.83 0.00 0.00 0.00 0.41 0.00 1.66 0.44 0.00 0.18 0.11 0.08 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 44.80 0.00 0.00 0.00 15.07 0.00 79.00 25.32 0.00 17.63 18.11 22.52 NET INCOME -44.80 0.00 0.00 0.00 -15.07 0.00 -79.00 -25.32 0.00 -17.63 -18.11 525.58 NET INCOME TO DATE -44.80 -44.80 -44.80 -44.80 -59.87 -59.87 -138.87 -164.19 -164.19 -181.82 -199.93 325.65 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields
and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget does not include a second fungicide application to control
Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre.
* Lease costs are based on hourly usage costs. Table 1.F Estimated returns for various price/yield combinations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Delta Area, Mississippi, 2013 ________________________________________________________________________________________________________________________ -----------------------------------------------PERCENT-------------------------------------------- PRODUCT 75 80 85 90 95 100 105 110 115 120 125 -------------------- --------------------------------------------PRODUCT PRICE----------------------------------------- Soybeans 9.78 10.44 11.09 11.74 12.39 13.05 13.70 14.35 15.00 15.66 16.31 ________________________________________________________________________________________________________________________ PERCENT YIELD UNIT ---------------------------------------------dollars---------------------------------------------- 50 21.00 bu -11 2 16 30 43 57 71 84 98 112 126 -40 -26 -13 0 14 27 41 55 68 82 96 60 25.20 bu 28 45 61 78 94 111 127 144 160 176 193 -0 15 32 48 65 81 97 114 130 147 163 70 29.40 bu 68 88 107 126 145 164 183 203 222 241 260 39 58 77 96 115 135 154 173 192 211 231 80 33.60 bu 108 130 152 174 196 218 240 262 284 306 328 79 101 122 144 166 188 210 232 254 276 298 90 37.80 bu 148 173 198 222 247 272 296 321 346 370 395 119 143 168 193 217 242 267 291 316 341 365 100 42.00 bu 188 216 243 270 298 325 353 380 407 435 462 158 186 213 241 268 296 323 350 378 405 433 110 46.20 bu 228 258 288 318 349 379 409 439 469 499 530 198 229 259 289 319 349 379 409 440 470 500 120 50.40 bu 268 301 334 367 400 432 465 498 531 564 597 238 271 304 337 370 403 436 469 501 534 567 130 54.60 bu 308 344 379 415 450 486 522 557 593 629 664 278 314 350 385 421 456 492 528 563 599 635 140 58.80 bu 348 386 425 463 501 540 578 616 655 693 732 318 357 395 433 472 510 548 587 625 663 702 150 63.00 bu 388 429 470 511 552 593 634 676 717 758 799 358 399 440 481 523 564 605 646 687 728 769 ________________________________________________________________________________________________________________________ The top number in each cell is Returns Above Direct Expenses. The bottom number in each cell is Returns Above Total Specified Expenses. Only the product listed has been varied to calculate net returns. Note: Cost of production estimates are based on 2012 input prices. Table 2.A Estimated costs per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 3.5000 21.00 _________ HARVEST AIDS Paraquat oz 0.25 4.0000 1.00 _________ Sodium Chlorate 3L gal 3.45 0.2500 0.86 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.4000 11.72 _________ Potash (60% K2O) cwt 29.80 0.6000 17.88 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Quadris oz 2.47 3.0000 7.41 _________ HERBICIDES Glyphosate 3lbs a.e pt 1.79 6.0000 10.74 _________ 2,4-D Amine 4 pt 2.54 2.0000 5.08 _________ Valor SX oz 5.55 2.0000 11.10 _________ Prefix pt 6.84 2.0000 13.68 _________ INSECTICIDES Karate Z oz 3.15 0.9600 3.02 _________ Acephate 90SP lb 6.56 0.7500 4.92 _________ Intrepid 2F oz 1.81 1.0000 1.81 _________ IRRIGATION SUPPLIES Roll-Out Pipe ft 0.24 33.0000 7.92 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.0750 0.26 _________ HAULING Haul Soybeans/Field bu 0.28 65.0000 18.20 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2000 9.00 _________ INOCULANT Nitrastick S lbseed 0.02 50.0000 1.25 _________ OPERATOR LABOR Tractors hour 11.71 0.4785 5.61 _________ Harvesters hour 11.71 0.1021 1.20 _________ IRRIGATE LABOR Special Labor hour 9.06 0.3000 2.73 _________ Implements hour 9.06 0.0625 0.57 _________ HAND LABOR Implements hour 9.06 0.1127 1.02 _________ UNALLOCATED LABOR hour 11.72 0.4519 5.30 _________ DIESEL FUEL Tractors gal 3.50 4.5544 15.96 _________ Harvesters gal 3.50 1.3935 4.88 _________ Roll-Out Pipe Irr. gal 3.50 7.3316 25.65 _________ REPAIR & MAINTENANCE Implements acre 4.73 1.0000 4.73 _________ Tractors acre 2.22 1.0000 2.22 _________ Harvesters acre 2.76 1.0000 2.76 _________ Roll-Out Pipe Irr. acre 5.80 1.0000 5.80 _________ INTEREST ON OP. CAP. acre 6.00 1.0000 6.00 _________ --------- TOTAL DIRECT EXPENSES 289.80 _________ FIXED EXPENSES Implements acre 10.72 1.0000 10.72 _________ Tractors acre 14.14 1.0000 14.14 _________ Harvesters acre 11.04 1.0000 11.04 _________ Roll-Out Pipe Irr. acre 48.18 1.0000 48.18 _________ --------- TOTAL FIXED EXPENSES 84.08 _________ --------- TOTAL SPECIFIED EXPENSES 373.88 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 2.B Summary of estimated costs and returns per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars INCOME Soybeans bu 13.05 65.0000 848.25 _________ --------- TOTAL INCOME 848.25 _________ DIRECT EXPENSES CUSTOM SPRAY acre 21.00 1.0000 21.00 _________ HARVEST AIDS acre 1.86 1.0000 1.86 _________ FERTILIZERS acre 29.60 1.0000 29.60 _________ FUNGICIDES acre 13.92 1.0000 13.92 _________ HERBICIDES acre 40.60 1.0000 40.60 _________ INSECTICIDES acre 9.75 1.0000 9.75 _________ IRRIGATION SUPPLIES acre 7.92 1.0000 7.92 _________ SEED/PLANTS acre 52.00 1.0000 52.00 _________ ADJUVANTS acre 0.27 1.0000 0.27 _________ HAULING acre 18.20 1.0000 18.20 _________ CUSTOM LIME acre 9.00 1.0000 9.00 _________ INOCULANT acre 1.25 1.0000 1.25 _________ HAND LABOR hour 9.06 0.1127 1.02 _________ IRRIGATE LABOR hour 9.06 0.3625 3.30 _________ OPERATOR LABOR hour 11.71 0.5806 6.81 _________ UNALLOCATED LABOR hour 11.72 0.4519 5.30 _________ DIESEL FUEL gal 3.50 13.2797 46.49 _________ REPAIR & MAINTENANCE acre 15.51 1.0000 15.51 _________ INTEREST ON OP. CAP. acre 6.00 1.0000 6.00 _________ --------- TOTAL DIRECT EXPENSES 289.80 _________ RETURNS ABOVE DIRECT EXPENSES 558.45 _________ TOTAL FIXED EXPENSES 84.08 _________ --------- TOTAL SPECIFIED EXPENSES 373.88 _________ RETURNS ABOVE TOTAL SPECIFIED EXPENSES 474.37 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 2.C Estimated resource use for field operations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR _________________________________________________________________________________________________________ -------------hours------------ Subsoiler 3 shank MFWD 190 0.204 0.20 Oct 0.04 0.04 0.04 0.03 Lime (Spread) ton 0.20 Oct 0.2000 Spin Spreader 5 ton MFWD 190 0.042 0.40 Oct 0.01 0.01 0.03 0.01 Phosphorus(46% P2O5) cwt 0.4000 Potash (60% K2O) cwt 0.6000 Disk Harrow 24' MFWD 190 0.081 1.00 Oct 0.08 0.08 0.08 0.07 Field Cultivate Fld 24' MFWD 190 0.062 1.00 Oct 0.06 0.06 0.06 0.05 Bed-Roll-Fold. 8R-38 MFWD 190 0.074 1.00 Oct 0.07 0.07 0.07 0.06 App by Air ( 5 gal) appl 1.00 Feb 1.0000 Glyphosate 3lbs a.e pt 2.0000 2,4-D Amine 4 pt 2.0000 Plant & Pre-Folding 12R-30 MFWD 190 0.067 1.00 Apr 0.06 0.06 0.13 0.06 Soybean Seed RR2 lb 50.0000 CruiserMaxx oz 1.6000 Nitrastick S lbseed 50.0000 Valor SX oz 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Prefix pt 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 App by Air ( 5 gal) appl 0.50 Jul 0.5000 Quadris oz 3.0000 App by Air ( 5 gal) appl 0.50 Jul 0.5000 Karate Z oz 0.9600 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Acephate 90SP lb 0.7500 App by Air ( 5 gal) appl 0.25 Aug 0.2500 Intrepid 2F oz 1.0000 Surfactant pt 0.0250 App by Air ( 5 gal) appl 0.25 Aug 0.2500 Paraquat oz 4.0000 Sodium Chlorate 3L gal 0.2500 Surfactant pt 0.0500 Header -Soybean 25' Flex 265 hp 0.102 1.00 Sep 0.10 0.10 0.10 0.09 Haul Soybeans/Field bu 65.0000 Roll-Out Pipe Irr. acre Jul 1.0000 0.07 0.07 0.44 ------- ------- ------- ------- TOTALS 0.58 0.58 1.05 0.45 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 2.D Estimated costs for field operations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST _________________________________________________________________________________________________________ ---------------------------------dollars-------------------------------- Subsoiler 3 shank 1.40 0.25 0.91 0.11 2.67 1.38 4.05 Lime (Spread) ton 9.00 0.38 9.38 9.38 Spin Spreader 5 ton 0.58 0.18 0.53 0.05 1.34 0.73 2.07 Phosphorus(46% P2O5) cwt 11.72 0.50 12.22 12.22 Potash (60% K2O) cwt 17.88 0.76 18.64 18.64 Disk Harrow 24' 2.80 1.18 1.82 0.25 6.05 4.23 10.28 Field Cultivate Fld 24' 2.13 0.68 1.39 0.18 4.38 3.57 7.95 Bed-Roll-Fold. 8R-38 2.54 0.82 1.65 0.21 5.22 3.51 8.73 App by Air ( 5 gal) appl 6.00 0.17 6.17 6.17 Glyphosate 3lbs a.e pt 3.58 0.10 3.68 3.68 2,4-D Amine 4 pt 5.08 0.14 5.22 5.22 Plant & Pre-Folding 12R-30 2.32 2.05 2.11 0.14 6.62 5.44 12.06 Soybean Seed RR2 lb 52.00 1.11 53.11 53.11 CruiserMaxx oz 6.51 0.14 6.65 6.65 Nitrastick S lbseed 1.25 0.03 1.28 1.28 Valor SX oz 11.10 0.24 11.34 11.34 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 Prefix pt 13.68 0.24 13.92 13.92 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 App by Air ( 5 gal) appl 3.00 0.03 3.03 3.03 Quadris oz 7.41 0.08 7.49 7.49 App by Air ( 5 gal) appl 3.00 0.03 3.03 3.03 Karate Z oz 3.02 0.03 3.05 3.05 App by Air ( 5 gal) appl 6.00 0.04 6.04 6.04 Acephate 90SP lb 4.92 0.03 4.95 4.95 App by Air ( 5 gal) appl 1.50 0.01 1.51 1.51 Intrepid 2F oz 1.81 0.01 1.82 1.82 Surfactant pt 0.09 0.09 0.09 App by Air ( 5 gal) appl 1.50 0.01 1.51 1.51 Paraquat oz 1.00 0.01 1.01 1.01 Sodium Chlorate 3L gal 0.86 0.01 0.87 0.87 Surfactant pt 0.18 0.18 0.18 Header -Soybean 25' Flex 4.88 3.52 2.28 0.04 10.72 12.20 22.92 Haul Soybeans/Field bu 18.20 0.06 18.26 18.26 Roll-Out Pipe Irr. acre 7.92 27.90 6.25 4.22 0.66 46.95 50.92 97.87 ------- ------- ------- ------- ------- ------- ------- ------- ------- TOTALS 205.37 46.49 15.51 16.43 0.00 6.00 289.80 84.08 373.88 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 2.E Estimated monthly income and expense flows per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 848.25 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 6.00 0.00 0.00 0.00 0.00 6.00 9.00 0.00 HARVEST AIDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.86 0.00 FERTILIZERS 29.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 0.00 7.41 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 8.66 0.00 11.10 20.84 0.00 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.02 6.73 0.00 IRRIGATION SUPPLIES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.92 0.00 0.00 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.27 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18.20 CUSTOM LIME 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INOCULANT 0.00 0.00 0.00 0.00 0.00 0.00 1.25 0.00 0.00 0.00 0.00 0.00 LABOR 6.74 0.00 0.00 0.00 0.00 0.00 2.11 1.75 2.76 0.23 0.00 2.84 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 10.75 0.00 0.00 0.00 0.00 0.00 2.32 1.94 17.61 8.55 0.00 5.32 REPAIR & MAINTENANCE 3.38 0.00 0.00 0.00 0.00 0.00 2.05 0.58 4.77 1.12 0.00 3.61 INTEREST ON OP. CAP. 2.53 0.00 0.00 0.00 0.41 0.00 1.66 0.44 0.47 0.27 0.12 0.10 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 62.00 0.00 0.00 0.00 15.07 0.00 79.00 25.55 33.53 26.60 17.98 30.07 NET INCOME -62.00 0.00 0.00 0.00 -15.07 0.00 -79.00 -25.55 -33.53 -26.60 -17.98 818.18 NET INCOME TO DATE -62.00 -62.00 -62.00 -62.00 -77.07 -77.07 -156.07 -181.62 -215.15 -241.75 -259.73 558.45 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields
and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget does not include a second fungicide application to control
Asian soybean rust, but the cost of treatment could
range from $7 to $12 per acre. * Lease costs are based on hourly usage costs. Table 2.F Estimated returns for various price/yield combinations, per acre Soybeans, early-planted, RR, stale seedbed, 12R 30" Furrow irrigated, 9 ac-in., Delta Area, Mississippi, 2013 ________________________________________________________________________________________________________________________ -----------------------------------------------PERCENT-------------------------------------------- PRODUCT 75 80 85 90 95 100 105 110 115 120 125 -------------------- --------------------------------------------PRODUCT PRICE----------------------------------------- Soybeans 9.78 10.44 11.09 11.74 12.39 13.05 13.70 14.35 15.00 15.66 16.31 ________________________________________________________________________________________________________________________ PERCENT YIELD UNIT ---------------------------------------------dollars---------------------------------------------- 50 32.50 bu 37 58 79 101 122 143 164 185 207 228 249 -46 -25 -4 16 38 59 80 101 122 144 165 60 39.00 bu 99 124 150 175 201 226 251 277 302 328 353 15 40 66 91 116 142 167 193 218 244 269 70 45.50 bu 161 190 220 250 279 309 339 368 398 428 457 76 106 136 165 195 225 255 284 314 344 373 80 52.00 bu 222 256 290 324 358 392 426 460 494 528 562 138 172 206 240 274 308 342 376 410 444 478 90 58.50 bu 284 322 360 399 437 475 513 551 589 628 666 200 238 276 315 353 391 429 467 505 544 582 100 65.00 bu 346 388 431 473 516 558 600 643 685 728 770 262 304 347 389 431 474 516 559 601 644 686 110 71.50 bu 408 454 501 548 594 641 688 734 781 828 874 324 370 417 464 510 557 604 650 697 743 790 120 78.00 bu 469 520 571 622 673 724 775 826 877 928 978 385 436 487 538 589 640 691 742 793 843 894 130 84.50 bu 531 586 642 697 752 807 862 917 972 1027 1083 447 502 557 613 668 723 778 833 888 943 999 140 91.00 bu 593 652 712 771 831 890 949 1009 1068 1127 1187 509 568 628 687 746 806 865 925 984 1043 1103 150 97.50 bu 655 718 782 846 909 973 1037 1100 1164 1227 1291 571 634 698 762 825 889 952 1016 1080 1143 1207 ________________________________________________________________________________________________________________________ The top number in each cell is Returns Above Direct Expenses. The bottom number in each cell is Returns Above Total Specified Expenses. Only the product listed has been varied to calculate net returns. Note: Cost of production estimates are based on 2012 input prices.
Table 3.A Estimated costs per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 2.5000 15.00 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.2800 8.20 _________ Potash (60% K2O) cwt 29.80 0.4000 11.92 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Quadris oz 2.47 4.5000 11.12 _________ HERBICIDES Valor SX oz 5.55 2.0000 11.10 _________ Glyphosate 3lbs a.e pt 1.79 4.0000 7.16 _________ Prefix pt 6.84 2.0000 13.68 _________ INSECTICIDES Karate Z oz 3.15 1.4400 4.54 _________ Acephate 90SP lb 6.56 0.7500 4.92 _________ Intrepid 2F oz 1.81 3.0000 5.43 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.0750 0.26 _________ HAULING Haul Soybeans/Field bu 0.28 30.0000 8.40 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2000 9.00 _________ INOCULANT Nitrastick S lbseed 0.02 50.0000 1.25 _________ OPERATOR LABOR Tractors hour 11.71 0.3463 4.06 _________ Harvesters hour 11.71 0.1021 1.20 _________ HAND LABOR Implements hour 9.06 0.1127 1.02 _________ UNALLOCATED LABOR hour 11.74 0.4036 4.74 _________ DIESEL FUEL Tractors gal 3.50 3.3871 11.87 _________ Harvesters gal 3.50 1.3935 4.88 _________ REPAIR & MAINTENANCE Implements acre 4.30 1.0000 4.30 _________ Tractors acre 1.68 1.0000 1.68 _________ Harvesters acre 2.76 1.0000 2.76 _________ INTEREST ON OP. CAP. acre 4.43 1.0000 4.43 _________ --------- TOTAL DIRECT EXPENSES 211.43 _________ FIXED EXPENSES Implements acre 9.00 1.0000 9.00 _________ Tractors acre 10.67 1.0000 10.67 _________ Harvesters acre 11.04 1.0000 11.04 _________ --------- TOTAL FIXED EXPENSES 30.71 _________ --------- TOTAL SPECIFIED EXPENSES 242.14 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 3.B Summary of estimated costs and returns per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars INCOME Soybeans bu 13.05 30.0000 391.50 _________ --------- TOTAL INCOME 391.50 _________ DIRECT EXPENSES CUSTOM SPRAY acre 15.00 1.0000 15.00 _________ FERTILIZERS acre 20.12 1.0000 20.12 _________ FUNGICIDES acre 17.63 1.0000 17.63 _________ HERBICIDES acre 31.94 1.0000 31.94 _________ INSECTICIDES acre 14.89 1.0000 14.89 _________ SEED/PLANTS acre 52.00 1.0000 52.00 _________ ADJUVANTS acre 0.26 1.0000 0.26 _________ HAULING acre 8.40 1.0000 8.40 _________ CUSTOM LIME acre 9.00 1.0000 9.00 _________ INOCULANT acre 1.25 1.0000 1.25 _________ HAND LABOR hour 9.06 0.1127 1.02 _________ OPERATOR LABOR hour 11.71 0.4485 5.26 _________ UNALLOCATED LABOR hour 11.74 0.4036 4.74 _________ DIESEL FUEL gal 3.50 4.7807 16.75 _________ REPAIR & MAINTENANCE acre 8.74 1.0000 8.74 _________ INTEREST ON OP. CAP. acre 4.43 1.0000 4.43 _________ --------- TOTAL DIRECT EXPENSES 211.43 _________ RETURNS ABOVE DIRECT EXPENSES 180.07 _________ TOTAL FIXED EXPENSES 30.71 _________ --------- TOTAL SPECIFIED EXPENSES 242.14 _________ RETURNS ABOVE TOTAL SPECIFIED EXPENSES 149.36 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 3.C Estimated resource use for field operations, per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR _________________________________________________________________________________________________________ -------------hours------------ Subsoiler 3 shank MFWD 190 0.204 0.20 Nov 0.04 0.04 0.04 0.03 Disk Harrow 24' MFWD 190 0.081 0.25 Nov 0.02 0.02 0.02 0.01 Lime (Spread) ton 0.20 Nov 0.2000 Spin Spreader 5 ton MFWD 190 0.042 0.40 Nov 0.01 0.01 0.03 0.01 Phosphorus(46% P2O5) cwt 0.2800 Potash (60% K2O) cwt 0.4000 Disk Harrow 24' MFWD 190 0.081 1.00 Apr 0.08 0.08 0.08 0.07 Field Cultivate Fld 24' MFWD 190 0.062 1.00 May 0.06 0.06 0.06 0.05 Plant & Pre-Folding 12R-30 MFWD 190 0.067 1.00 May 0.06 0.06 0.13 0.06 Soybean Seed RR2 lb 50.0000 CruiserMaxx oz 1.6000 Nitrastick S lbseed 50.0000 Valor SX oz 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Prefix pt 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 Jun 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 App by Air ( 5 gal) appl 0.75 Jul 0.7500 Quadris oz 4.5000 Karate Z oz 1.4400 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Acephate 90SP lb 0.7500 App by Air ( 5 gal) appl 0.75 Aug 0.7500 Intrepid 2F oz 3.0000 Surfactant pt 0.0750 Header -Soybean 25' Flex 265 hp 0.102 1.00 Oct 0.10 0.10 0.10 0.09 Haul Soybeans/Field bu 30.0000 ------- ------- ------- ------- TOTALS 0.44 0.44 0.56 0.40 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 3.D Estimated costs for field operations, per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST _________________________________________________________________________________________________________ ---------------------------------dollars-------------------------------- Subsoiler 3 shank 1.40 0.25 0.91 0.11 2.67 1.38 4.05 Disk Harrow 24' 0.70 0.30 0.46 0.06 1.52 1.06 2.58 Lime (Spread) ton 9.00 0.38 9.38 9.38 Spin Spreader 5 ton 0.58 0.18 0.53 0.05 1.34 0.73 2.07 Phosphorus(46% P2O5) cwt 8.20 0.35 8.55 8.55 Potash (60% K2O) cwt 11.92 0.51 12.43 12.43 Disk Harrow 24' 2.80 1.18 1.82 0.14 5.94 4.23 10.17 Field Cultivate Fld 24' 2.13 0.68 1.39 0.09 4.29 3.57 7.86 Plant & Pre-Folding 12R-30 2.32 2.05 2.11 0.14 6.62 5.44 12.06 Soybean Seed RR2 lb 52.00 1.11 53.11 53.11 CruiserMaxx oz 6.51 0.14 6.65 6.65 Nitrastick S lbseed 1.25 0.03 1.28 1.28 Valor SX oz 11.10 0.24 11.34 11.34 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.08 3.66 3.66 Prefix pt 13.68 0.29 13.97 13.97 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 App by Air ( 5 gal) appl 4.50 0.06 4.56 4.56 Quadris oz 11.12 0.16 11.28 11.28 Karate Z oz 4.54 0.06 4.60 4.60 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Acephate 90SP lb 4.92 0.05 4.97 4.97 App by Air ( 5 gal) appl 4.50 0.05 4.55 4.55 Intrepid 2F oz 5.43 0.06 5.49 5.49 Surfactant pt 0.26 0.26 0.26 Header -Soybean 25' Flex 4.88 3.52 2.28 0.04 10.72 12.20 22.92 Haul Soybeans/Field bu 8.40 0.03 8.43 8.43 ------- ------- ------- ------- ------- ------- ------- ------- ------- TOTALS 170.49 16.75 8.74 11.02 0.00 4.43 211.43 30.71 242.14 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 3.E Estimated monthly income and expense flows per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 391.50 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.50 10.50 0.00 0.00 FERTILIZERS 20.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 11.12 0.00 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 0.00 0.00 28.36 3.58 0.00 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.54 10.35 0.00 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.26 0.00 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.40 CUSTOM LIME 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INOCULANT 0.00 0.00 0.00 0.00 0.00 0.00 1.25 0.00 0.00 0.00 0.00 0.00 LABOR 1.90 0.00 0.00 0.00 0.00 1.82 4.26 0.76 0.00 0.00 0.00 2.28 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 2.68 0.00 0.00 0.00 0.00 2.80 5.42 0.97 0.00 0.00 0.00 4.88 REPAIR & MAINTENANCE 0.73 0.00 0.00 0.00 0.00 1.18 3.02 0.29 0.00 0.00 0.00 3.52 INTEREST ON OP. CAP. 1.46 0.00 0.00 0.00 0.00 0.14 2.16 0.10 0.28 0.22 0.00 0.07 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 35.89 0.00 0.00 0.00 0.00 5.94 102.98 5.70 20.44 21.33 0.00 19.15 NET INCOME -35.89 0.00 0.00 0.00 0.00 -5.94 -102.98 -5.70 -20.44 -21.33 0.00 372.35 NET INCOME TO DATE -35.89 -35.89 -35.89 -35.89 -35.89 -41.83 -144.81 -150.51 -170.95 -192.28 -192.28 180.07 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields
and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget does not include a second fungicide application to control
Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre.
* Lease costs are based on hourly usage costs. Table 3.F Estimated returns for various price/yield combinations, per acre Soybeans, May-planted, RR, 12R 30" Delta Area, Mississippi, 2013 ________________________________________________________________________________________________________________________ -----------------------------------------------PERCENT-------------------------------------------- PRODUCT 75 80 85 90 95 100 105 110 115 120 125 -------------------- --------------------------------------------PRODUCT PRICE----------------------------------------- Soybeans 9.78 10.44 11.09 11.74 12.39 13.05 13.70 14.35 15.00 15.66 16.31 ________________________________________________________________________________________________________________________ PERCENT YIELD UNIT ---------------------------------------------dollars---------------------------------------------- 50 15.00 bu -60 -50 -40 -31 -21 -11 -1 8 17 27 37 -91 -81 -71 -61 -51 -42 -32 -22 -12 -3 6 60 18.00 bu -31 -20 -8 3 15 26 38 50 62 73 85 -62 -50 -39 -27 -15 -3 7 19 31 43 54 70 21.00 bu -3 10 24 37 51 65 78 92 106 119 133 -34 -20 -6 7 20 34 48 61 75 89 102 80 24.00 bu 25 40 56 72 87 103 119 134 150 166 181 -5 10 25 41 57 72 88 104 119 135 151 90 27.00 bu 53 71 88 106 124 141 159 176 194 212 229 22 40 58 75 93 111 128 146 163 181 199 100 30.00 bu 82 101 121 140 160 180 199 219 238 258 277 51 71 90 110 129 149 168 188 208 227 247 110 33.00 bu 110 132 153 175 196 218 239 261 282 304 326 80 101 123 144 166 187 209 230 252 273 295 120 36.00 bu 139 162 186 209 233 256 280 303 327 350 374 108 132 155 178 202 225 249 272 296 319 343 130 39.00 bu 167 193 218 244 269 294 320 345 371 396 422 137 162 187 213 238 264 289 315 340 366 391 140 42.00 bu 196 223 251 278 305 333 360 388 415 442 470 165 192 220 247 275 302 329 357 384 412 439 150 45.00 bu 224 254 283 312 342 371 400 430 459 489 518 194 223 252 282 311 340 370 399 428 458 487 ________________________________________________________________________________________________________________________ The top number in each cell is Returns Above Direct Expenses. The bottom number in each cell is Returns Above Total Specified Expenses. Only the product listed has been varied to calculate net returns. Note: Cost of production estimates are based on 2012 input prices. Table 4. Estimated costs per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 3.0000 18.00 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.4000 11.72 _________ Potash (60% K2O) cwt 29.80 0.6000 17.88 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Quadris oz 2.47 6.0000 14.82 _________ HERBICIDES Valor SX oz 5.55 2.0000 11.10 _________ Glyphosate 3lbs a.e pt 1.79 4.0000 7.16 _________ Prefix pt 6.84 2.0000 13.68 _________ INSECTICIDES Karate Z oz 3.15 1.9200 6.05 _________ Acephate 90SP lb 6.56 0.7500 4.92 _________ Intrepid 2F oz 1.81 4.0000 7.24 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.1000 0.35 _________ HAULING Haul Soybeans/Field bu 0.28 53.0000 14.84 _________ SURVEY & MARK LEVEES Survey & Mark Levees acre 4.50 0.5000 2.25 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2000 9.00 _________ INOCULANT Nitrastick S lbseed 0.02 50.0000 1.25 _________ OPERATOR LABOR Tractors hour 11.71 0.5697 6.68 _________ Harvesters hour 11.71 0.1021 1.20 _________ IRRIGATE LABOR Special Labor hour 9.06 0.3125 2.82 _________ HAND LABOR Implements hour 9.06 0.1127 1.02 _________ UNALLOCATED LABOR hour 11.72 0.4221 4.95 _________ DIESEL FUEL Tractors gal 3.50 5.1749 18.14 _________ Harvesters gal 3.50 1.3935 4.88 _________ Contour Flood Irr. gal 3.50 10.9974 38.49 _________ REPAIR & MAINTENANCE Implements acre 5.02 1.0000 5.02 _________ Tractors acre 2.55 1.0000 2.55 _________ Harvesters acre 2.76 1.0000 2.76 _________ Contour Flood Irr. acre 11.57 1.0000 11.57 _________ INTEREST ON OP. CAP. acre 5.99 1.0000 5.99 _________ --------- TOTAL DIRECT EXPENSES 304.84 _________ FIXED EXPENSES Implements acre 11.01 1.0000 11.01 _________ Tractors acre 16.12 1.0000 16.12 _________ Harvesters acre 11.04 1.0000 11.04 _________ Contour Flood Irr. acre 36.52 1.0000 36.52 _________ --------- TOTAL FIXED EXPENSES 74.69 _________ --------- TOTAL SPECIFIED EXPENSES 379.53 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 4.B Summary of estimated costs and returns per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars INCOME Soybeans bu 13.05 53.0000 691.65 _________ --------- TOTAL INCOME 691.65 _________ DIRECT EXPENSES CUSTOM SPRAY acre 18.00 1.0000 18.00 _________ FERTILIZERS acre 29.60 1.0000 29.60 _________ FUNGICIDES acre 21.33 1.0000 21.33 _________ HERBICIDES acre 31.94 1.0000 31.94 _________ INSECTICIDES acre 18.21 1.0000 18.21 _________ SEED/PLANTS acre 52.00 1.0000 52.00 _________ ADJUVANTS acre 0.35 1.0000 0.35 _________ HAULING acre 14.84 1.0000 14.84 _________ SURVEY & MARK LEVEES acre 2.25 1.0000 2.25 _________ CUSTOM LIME acre 9.00 1.0000 9.00 _________ INOCULANT acre 1.25 1.0000 1.25 _________ HAND LABOR hour 9.06 0.1127 1.02 _________ IRRIGATE LABOR hour 9.06 0.3125 2.82 _________ OPERATOR LABOR hour 11.71 0.6718 7.88 _________ UNALLOCATED LABOR hour 11.72 0.4221 4.95 _________ DIESEL FUEL gal 3.50 17.5659 61.51 _________ REPAIR & MAINTENANCE acre 21.90 1.0000 21.90 _________ INTEREST ON OP. CAP. acre 5.99 1.0000 5.99 _________ --------- TOTAL DIRECT EXPENSES 304.84 _________ RETURNS ABOVE DIRECT EXPENSES 386.81 _________ TOTAL FIXED EXPENSES 74.69 _________ --------- TOTAL SPECIFIED EXPENSES 379.53 _________ RETURNS ABOVE TOTAL SPECIFIED EXPENSES 312.12 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 4.C Estimated resource use for field operations, per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR _________________________________________________________________________________________________________ -------------hours------------ Disk Harrow 24' MFWD 190 0.081 1.00 Nov 0.08 0.08 0.08 0.07 Lime (Spread) ton 0.20 Nov 0.2000 Spin Spreader 5 ton MFWD 190 0.042 0.40 Nov 0.01 0.01 0.03 0.01 Phosphorus(46% P2O5) cwt 0.4000 Potash (60% K2O) cwt 0.6000 Disk Harrow 24' MFWD 190 0.081 1.00 Apr 0.08 0.08 0.08 0.07 Field Cultivate Fld 24' MFWD 190 0.062 1.00 May 0.06 0.06 0.06 0.05 Plant & Pre-Folding 12R-30 MFWD 190 0.067 1.00 May 0.06 0.06 0.13 0.06 Soybean Seed RR2 lb 50.0000 CruiserMaxx oz 1.6000 Nitrastick S lbseed 50.0000 Valor SX oz 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Prefix pt 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 Jun 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 App by Air ( 5 gal) appl 1.00 Jul 1.0000 Quadris oz 6.0000 Karate Z oz 1.9200 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Acephate 90SP lb 0.7500 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Intrepid 2F oz 4.0000 Surfactant pt 0.1000 Header -Soybean 25' Flex 265 hp 0.102 1.00 Oct 0.10 0.10 0.10 0.09 Haul Soybeans/Field bu 53.0000 Contour Flood Irr. acre Jul 1.0000 0.20 0.20 0.51 ------- ------- ------- ------- TOTALS 0.67 0.67 1.09 0.42 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 4.D Estimated costs for field operations, per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST _________________________________________________________________________________________________________ ---------------------------------dollars-------------------------------- Disk Harrow 24' 2.80 1.18 1.82 0.25 6.05 4.23 10.28 Lime (Spread) ton 9.00 0.38 9.38 9.38 Spin Spreader 5 ton 0.58 0.18 0.53 0.05 1.34 0.73 2.07 Phosphorus(46% P2O5) cwt 11.72 0.50 12.22 12.22 Potash (60% K2O) cwt 17.88 0.76 18.64 18.64 Disk Harrow 24' 2.80 1.18 1.82 0.14 5.94 4.23 10.17 Field Cultivate Fld 24' 2.13 0.68 1.39 0.09 4.29 3.57 7.86 Plant & Pre-Folding 12R-30 2.32 2.05 2.11 0.14 6.62 5.44 12.06 Soybean Seed RR2 lb 52.00 1.11 53.11 53.11 CruiserMaxx oz 6.51 0.14 6.65 6.65 Nitrastick S lbseed 1.25 0.03 1.28 1.28 Valor SX oz 11.10 0.24 11.34 11.34 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.08 3.66 3.66 Prefix pt 13.68 0.29 13.97 13.97 Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 App by Air ( 5 gal) appl 6.00 0.09 6.09 6.09 Quadris oz 14.82 0.21 15.03 15.03 Karate Z oz 6.05 0.09 6.14 6.14 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Acephate 90SP lb 4.92 0.05 4.97 4.97 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Intrepid 2F oz 7.24 0.08 7.32 7.32 Surfactant pt 0.35 0.35 0.35 Header -Soybean 25' Flex 4.88 3.52 2.28 0.04 10.72 12.20 22.92 Haul Soybeans/Field bu 14.84 0.05 14.89 14.89 Contour Flood Irr. acre 2.25 44.06 12.53 5.20 0.92 64.96 42.19 107.15 ------- ------- ------- ------- ------- ------- ------- ------- ------- TOTALS 198.77 61.51 21.90 16.67 0.00 5.99 304.84 74.69 379.53 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 4.E Estimated monthly income and expense flows per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 691.65 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.00 12.00 0.00 0.00 FERTILIZERS 29.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 14.82 0.00 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 0.00 0.00 28.36 3.58 0.00 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.05 12.16 0.00 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 0.00 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14.84 SURVEY & MARK LEVEES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.25 0.00 0.00 0.00 0.00 CUSTOM LIME 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INOCULANT 0.00 0.00 0.00 0.00 0.00 0.00 1.25 0.00 0.00 0.00 0.00 0.00 LABOR 2.35 0.00 0.00 0.00 0.00 1.82 4.71 2.42 1.47 1.47 0.15 2.28 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 3.38 0.00 0.00 0.00 0.00 2.80 5.42 15.87 14.41 14.41 0.34 4.88 REPAIR & MAINTENANCE 1.36 0.00 0.00 0.00 0.00 1.18 3.02 7.76 2.50 2.50 0.06 3.52 INTEREST ON OP. CAP. 1.94 0.00 0.00 0.00 0.00 0.14 2.17 0.56 0.64 0.45 0.00 0.09 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 47.63 0.00 0.00 0.00 0.00 5.94 103.44 32.44 45.89 43.34 0.55 25.61 NET INCOME -47.63 0.00 0.00 0.00 0.00 -5.94 -103.44 -32.44 -45.89 -43.34 -0.55 666.04 NET INCOME TO DATE -47.63 -47.63 -47.63 -47.63 -47.63 -53.57 -157.01 -189.45 -235.34 -278.68 -279.23 386.81 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields
and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget does not include a second fungicide application to control
Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre.
* Lease costs are based on hourly usage costs. Table 4.F Estimated returns for various price/yield combinations, per acre Soybeans, May-planted, RR, 12R 30" Flood irrigated, 13.5 ac-in., Delta Area, Mississippi, 2013 ________________________________________________________________________________________________________________________ -----------------------------------------------PERCENT-------------------------------------------- PRODUCT 75 80 85 90 95 100 105 110 115 120 125 -------------------- --------------------------------------------PRODUCT PRICE----------------------------------------- Soybeans 9.78 10.44 11.09 11.74 12.39 13.05 13.70 14.35 15.00 15.66 16.31 ________________________________________________________________________________________________________________________ PERCENT YIELD UNIT ---------------------------------------------dollars---------------------------------------------- 50 26.50 bu -38 -20 -3 13 31 48 65 83 100 117 134 -112 -95 -78 -60 -43 -26 -8 8 25 42 60 60 31.80 bu 12 33 53 74 95 116 136 157 178 199 219 -62 -41 -20 -0 20 41 62 82 103 124 145 70 37.10 bu 62 86 111 135 159 183 207 232 256 280 304 -11 12 36 60 84 109 133 157 181 205 230 80 42.40 bu 113 140 168 196 223 251 279 306 334 362 389 38 66 93 121 149 176 204 232 259 287 315 90 47.70 bu 163 194 225 256 288 319 350 381 412 443 474 88 119 151 182 213 244 275 306 337 368 400 100 53.00 bu 213 248 283 317 352 386 421 455 490 525 559 139 173 208 242 277 312 346 381 415 450 485 110 58.30 bu 264 302 340 378 416 454 492 530 568 606 644 189 227 265 303 341 379 417 455 493 531 570 120 63.60 bu 314 356 397 439 480 522 563 605 646 688 729 239 281 322 364 405 447 488 530 571 613 654 130 68.90 bu 365 410 454 499 544 589 634 679 724 769 814 290 335 380 425 470 515 560 605 650 694 739 140 74.20 bu 415 463 512 560 609 657 705 754 802 851 899 340 389 437 485 534 582 631 679 728 776 824 150 79.50 bu 465 517 569 621 673 725 777 828 880 932 984 391 443 494 546 598 650 702 754 806 857 909 ________________________________________________________________________________________________________________________ The top number in each cell is Returns Above Direct Expenses. The bottom number in each cell is Returns Above Total Specified Expenses. Only the product listed has been varied to calculate net returns. Note: Cost of production estimates are based on 2012 input prices. Table 5.A Estimated costs per acre Soybeans after wheat, RR, 12R 30" Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 3.0000 18.00 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.4000 11.72 _________ Potash (60% K2O) cwt 29.80 0.6000 17.88 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Quadris oz 2.47 6.0000 14.82 _________ HERBICIDES Glyphosate 3lbs a.e pt 1.79 5.0000 8.95 _________ Valor SX oz 5.55 2.0000 11.10 _________ Prefix pt 6.84 2.0000 13.68 _________ INSECTICIDES Karate Z oz 3.15 1.7000 5.36 _________ Acephate 90SP lb 6.56 0.7500 4.92 _________ Intrepid 2F oz 1.81 4.0000 7.24 _________ Baythroid XL oz 2.27 2.1300 4.84 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.1000 0.35 _________ HAULING Haul Soybeans/Field bu 0.28 45.0000 12.60 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2000 9.00 _________ INOCULANT Nitrastick S lbseed 0.02 50.0000 1.25 _________ OPERATOR LABOR Tractors hour 11.71 0.1550 1.82 _________ Harvesters hour 11.71 0.1021 1.20 _________ IRRIGATE LABOR Special Labor hour 9.06 0.0518 0.47 _________ HAND LABOR Implements hour 9.06 0.1197 1.08 _________ UNALLOCATED LABOR hour 11.66 0.2212 2.58 _________ DIESEL FUEL Tractors gal 3.50 1.5163 5.32 _________ Harvesters gal 3.50 1.3935 4.88 _________ 1/2-mi Pivot Irr. gal 3.50 16.4057 57.43 _________ REPAIR & MAINTENANCE Implements acre 2.95 1.0000 2.95 _________ Tractors acre 0.76 1.0000 0.76 _________ Harvesters acre 2.76 1.0000 2.76 _________ 1/2-mi Pivot Irr. acre 9.90 1.0000 9.90 _________ INTEREST ON OP. CAP. acre 5.13 1.0000 5.13 _________ --------- TOTAL DIRECT EXPENSES 296.50 _________ FIXED EXPENSES Implements acre 5.18 1.0000 5.18 _________ Tractors acre 4.77 1.0000 4.77 _________ Harvesters acre 11.04 1.0000 11.04 _________ 1/2-mi Pivot Irr. acre 35.62 1.0000 35.62 _________ --------- TOTAL FIXED EXPENSES 56.61 _________ --------- TOTAL SPECIFIED EXPENSES 353.11 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12 per
acre.
Table 5.B Summary of estimated costs and returns per acre
Soybeans after wheat, RR, 12R 30"
Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013
_______________________________________________________________________
ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM
_______________________________________________________________________
dollars dollars
INCOME
Soybeans bu 13.05 45.0000 587.25 _________
---------
TOTAL INCOME 587.25 _________
DIRECT EXPENSES
CUSTOM SPRAY acre 18.00 1.0000 18.00 _________
FERTILIZERS acre 29.60 1.0000 29.60 _________
FUNGICIDES acre 21.33 1.0000 21.33 _________
HERBICIDES acre 33.73 1.0000 33.73 _________
INSECTICIDES acre 22.36 1.0000 22.36 _________
SEED/PLANTS acre 52.00 1.0000 52.00 _________
ADJUVANTS acre 0.35 1.0000 0.35 _________
HAULING acre 12.60 1.0000 12.60 _________
CUSTOM LIME acre 9.00 1.0000 9.00 _________
INOCULANT acre 1.25 1.0000 1.25 _________
HAND LABOR hour 9.06 0.1197 1.08 _________
IRRIGATE LABOR hour 9.06 0.0518 0.47 _________
OPERATOR LABOR hour 11.71 0.2572 3.02 _________
UNALLOCATED LABOR hour 11.66 0.2212 2.58 _________
DIESEL FUEL gal 3.50 19.3156 67.63 _________
REPAIR & MAINTENANCE acre 16.37 1.0000 16.37 _________
INTEREST ON OP. CAP. acre 5.13 1.0000 5.13 _________
---------
TOTAL DIRECT EXPENSES 296.50 _________
RETURNS ABOVE DIRECT EXPENSES 290.75 _________
TOTAL FIXED EXPENSES 56.61 _________
---------
TOTAL SPECIFIED EXPENSES 353.11 _________
RETURNS ABOVE TOTAL SPECIFIED EXPENSES 234.14 _________
_______________________________________________________________________
Note: Cost of production estimates are based on 2012 input prices.
These fertilizer rates are based on the assumption that 30-40% of
the soybean fields would be mixed to light textured fields and not
heavy clay exclusively. Also, rates are based on maintenance
levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget
does not include a second fungicide application to control Asian
soybean rust, but the cost of treatment could range from $7 to $12
per acre.
Table 5.C Estimated resource use for field operations, per acre Soybeans after wheat, RR, 12R 30" Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR _________________________________________________________________________________________________________ -------------hours------------ Lime (Spread) ton 0.20 Nov 0.2000 Spin Spreader 5 ton MFWD 190 0.042 0.40 Nov 0.01 0.01 0.03 0.01 Phosphorus(46% P2O5) cwt 0.4000 Potash (60% K2O) cwt 0.6000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 Jun 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Plant & Pre-Folding 12R-30 MFWD 190 0.067 1.00 Jun 0.06 0.06 0.13 0.05 Soybean Seed RR2 lb 50.0000 CruiserMaxx oz 1.6000 Nitrastick S lbseed 50.0000 Valor SX oz 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 1.00 Jul 0.02 0.02 0.04 0.02 Glyphosate 3lbs a.e pt 2.0000 Prefix pt 2.0000 Spray (Broadcast) 60' MFWD 190 0.028 0.50 Jul 0.01 0.01 0.02 0.01 Glyphosate 3lbs a.e pt 1.0000 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Quadris oz 6.0000 Karate Z oz 1.7000 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Acephate 90SP lb 0.7500 App by Air ( 5 gal) appl 1.00 Aug 1.0000 Intrepid 2F oz 4.0000 Surfactant pt 0.1000 Baythroid XL oz 2.1300 Header -Soybean 25' Flex 265 hp 0.102 1.00 Oct 0.10 0.10 0.10 0.08 Haul Soybeans/Field bu 45.0000 1/2-mi Pivot Irr. acre Jul 1.0000 0.05 ------- ------- ------- ------- TOTALS 0.25 0.25 0.42 0.22 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 5.D Estimated costs for field operations, per acre Soybeans after wheat, RR, 12R 30" Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013 _________________________________________________________________________________________________________ OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST _________________________________________________________________________________________________________ ---------------------------------dollars-------------------------------- Lime (Spread) ton 9.00 0.38 9.38 9.38 Spin Spreader 5 ton 0.58 0.18 0.52 0.05 1.33 0.73 2.06 Phosphorus(46% P2O5) cwt 11.72 0.50 12.22 12.22 Potash (60% K2O) cwt 17.88 0.76 18.64 18.64 Spray (Broadcast) 60' 0.97 0.29 0.74 0.04 2.04 1.05 3.09 Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64 Plant & Pre-Folding 12R-30 2.32 2.05 2.08 0.11 6.56 5.44 12.00 Soybean Seed RR2 lb 52.00 0.92 52.92 52.92 CruiserMaxx oz 6.51 0.12 6.63 6.63 Nitrastick S lbseed 1.25 0.02 1.27 1.27 Valor SX oz 11.10 0.20 11.30 11.30 Spray (Broadcast) 60' 0.97 0.29 0.74 0.03 2.03 1.05 3.08 Glyphosate 3lbs a.e pt 3.58 0.05 3.63 3.63 Prefix pt 13.68 0.19 13.87 13.87 Spray (Broadcast) 60' 0.48 0.14 0.37 0.01 1.00 0.52 1.52 Glyphosate 3lbs a.e pt 1.79 0.03 1.82 1.82 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Quadris oz 14.82 0.16 14.98 14.98 Karate Z oz 5.36 0.06 5.42 5.42 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Acephate 90SP lb 4.92 0.05 4.97 4.97 App by Air ( 5 gal) appl 6.00 0.06 6.06 6.06 Intrepid 2F oz 7.24 0.08 7.32 7.32 Surfactant pt 0.35 0.35 0.35 Baythroid XL oz 4.84 0.05 4.89 4.89 Header -Soybean 25' Flex 4.88 3.52 2.23 0.04 10.67 12.20 22.87 Haul Soybeans/Field bu 12.60 0.04 12.64 12.64 1/2-mi Pivot Irr. acre 57.43 9.90 0.47 1.00 68.80 35.62 104.42 ------- ------- ------- ------- ------- ------- ------- ------- ------- TOTALS 200.22 67.63 16.37 7.15 0.00 5.13 296.50 56.61 353.11 _________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget. Fertilization decisions should be based on
soil tests. The budget does not include a second fungicide application to control Asian soybean
rust, but the cost of treatment could range from $7 to $12 per acre.
Table 5.E Estimated monthly income and expense flows per acre Soybeans after wheat, RR, 12R 30" Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 587.25 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18.00 0.00 0.00 FERTILIZERS 29.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 14.82 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14.68 19.05 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22.36 0.00 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 0.00 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.60 CUSTOM LIME 9.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INOCULANT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.25 0.00 0.00 0.00 0.00 LABOR 0.52 0.00 0.00 0.00 0.00 0.00 0.34 2.86 1.16 0.04 0.00 2.23 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 0.58 0.00 0.00 0.00 0.00 0.00 0.00 20.52 24.42 17.23 0.00 4.88 REPAIR & MAINTENANCE 0.18 0.00 0.00 0.00 0.00 0.00 0.00 10.79 1.26 0.62 0.00 3.52 INTEREST ON OP. CAP. 1.69 0.00 0.00 0.00 0.00 0.00 0.01 1.93 0.65 0.77 0.00 0.08 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 41.57 0.00 0.00 0.00 0.00 0.00 0.35 110.54 46.54 74.19 0.00 23.31 NET INCOME -41.57 0.00 0.00 0.00 0.00 0.00 -0.35 -110.54 -46.54 -74.19 0.00 563.94 NET INCOME TO DATE -41.57 -41.57 -41.57 -41.57 -41.57 -41.57 -41.92 -152.46 -199.00 -273.19 -273.19 290.75 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. These fertilizer rates are based on the assumption that 30-40% of the soybean fields would be mixed to light textured fields
and not heavy clay exclusively. Also, rates are based on maintenance levels associated with the expected yield in the budget.
Fertilization decisions should be based on soil tests. The budget does not include a second fungicide application to control
Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre.
* Lease costs are based on hourly usage costs. Table 5.F Estimated returns for various price/yield combinations, per acre Soybeans after wheat, RR, 12R 30" Pivot irrigated, 7.5 ac-in., Delta Area, Mississippi, 2013 ________________________________________________________________________________________________________________________ -----------------------------------------------PERCENT-------------------------------------------- PRODUCT 75 80 85 90 95 100 105 110 115 120 125 -------------------- --------------------------------------------PRODUCT PRICE----------------------------------------- Soybeans 9.78 10.44 11.09 11.74 12.39 13.05 13.70 14.35 15.00 15.66 16.31 ________________________________________________________________________________________________________________________ PERCENT YIELD UNIT ---------------------------------------------dollars---------------------------------------------- 50 22.50 bu -69 -55 -40 -25 -11 3 18 32 47 62 76 -126 -111 -97 -82 -67 -53 -38 -23 -9 5 20 60 27.00 bu -27 -9 8 25 43 60 78 96 113 131 148 -83 -66 -48 -30 -13 4 21 39 57 74 92 70 31.50 bu 15 36 56 77 97 118 138 159 180 200 221 -41 -20 0 20 41 61 82 102 123 143 164 80 36.00 bu 58 81 105 128 152 175 199 222 246 269 293 1 25 48 72 95 119 142 166 189 213 236 90 40.50 bu 101 127 154 180 206 233 259 286 312 338 365 44 70 97 123 150 176 203 229 255 282 308 100 45.00 bu 143 173 202 232 261 290 320 349 378 408 437 87 116 146 175 204 234 263 292 322 351 380 110 49.50 bu 186 219 251 283 315 348 380 412 445 477 509 130 162 194 227 259 291 323 356 388 420 453 120 54.00 bu 229 264 299 335 370 405 440 476 511 546 581 172 208 243 278 313 349 384 419 454 490 525 130 58.50 bu 272 310 348 386 424 463 501 539 577 615 653 215 253 292 330 368 406 444 482 521 559 597 140 63.00 bu 315 356 397 438 479 520 561 602 643 685 726 258 299 340 381 422 463 505 546 587 628 669 150 67.50 bu 357 401 445 489 534 578 622 666 710 754 798 301 345 389 433 477 521 565 609 653 697 741 ________________________________________________________________________________________________________________________ The top number in each cell is Returns Above Direct Expenses. The bottom number in each cell is Returns Above Total Specified Expenses. Only the product listed has been varied to calculate net returns. Note: Cost of production estimates are based on 2012 input prices. Table 6.A Estimated costs per acre Soybeans, early-planted, RR, reduced tillage, 12R 30" Non-Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars DIRECT EXPENSES CUSTOM SPRAY App by Air ( 5 gal) appl 6.00 1.5000 9.00 _________ HARVEST AIDS Paraquat oz 0.25 8.0000 2.00 _________ FERTILIZERS Phosphorus(46% P2O5) cwt 29.30 0.6600 19.34 _________ Potash (60% K2O) cwt 29.80 1.0000 29.80 _________ FUNGICIDES CruiserMaxx oz 4.07 1.6000 6.51 _________ Headline EC oz 2.81 3.0000 8.43 _________ HERBICIDES Glyphosate 3lbs a.e pt 1.79 6.0000 10.74 _________ 2,4-D Amine 4 pt 2.54 2.0000 5.08 _________ Valor SX oz 5.55 2.0000 11.10 _________ Dual Magnum pt 13.54 1.0000 13.54 _________ Tricor DF lb 14.46 0.3000 4.34 _________ INSECTICIDES Acephate 90SP lb 6.56 0.7500 4.92 _________ SEED/PLANTS Soybean Seed RR2 lb 1.04 50.0000 52.00 _________ ADJUVANTS Surfactant pt 3.50 0.1000 0.35 _________ HAULING Haul Soybeans/Field bu 0.28 43.0000 12.04 _________ CUSTOM LIME Lime (Spread) ton 45.00 0.2500 11.25 _________ OPERATOR LABOR Tractors hour 11.71 0.3477 4.08 _________ Harvesters hour 11.71 0.1021 1.20 _________ HAND LABOR Implements hour 9.06 0.1543 1.40 _________ UNALLOCATED LABOR hour 11.73 0.4049 4.75 _________ DIESEL FUEL Tractors gal 3.50 3.4009 11.91 _________ Harvesters gal 3.50 1.3935 4.88 _________ REPAIR & MAINTENANCE Implements acre 3.95 1.0000 3.95 _________ Tractors acre 1.68 1.0000 1.68 _________ Harvesters acre 2.76 1.0000 2.76 _________ INTEREST ON OP. CAP. acre 5.93 1.0000 5.93 _________ --------- TOTAL DIRECT EXPENSES 242.98 _________ FIXED EXPENSES Implements acre 8.10 1.0000 8.10 _________ Tractors acre 10.72 1.0000 10.72 _________ Harvesters acre 11.04 1.0000 11.04 _________ --------- TOTAL FIXED EXPENSES 29.86 _________ --------- TOTAL SPECIFIED EXPENSES 272.84 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. Fertilization decisions should be based on soil tests.
The budget does not include a second fungicide application to control Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre. Table 6.B Summary of estimated costs and returns per acre Soybeans, early-planted, RR, reduced tillage, 12R 30" Non-Delta Area, Mississippi, 2013 _______________________________________________________________________ ITEM UNIT PRICE QUANTITY AMOUNT YOUR FARM _______________________________________________________________________ dollars dollars INCOME Soybeans bu 13.05 43.0000 561.15 _________ --------- TOTAL INCOME 561.15 _________ DIRECT EXPENSES CUSTOM SPRAY acre 9.00 1.0000 9.00 _________ HARVEST AIDS acre 2.00 1.0000 2.00 _________ FERTILIZERS acre 49.14 1.0000 49.14 _________ FUNGICIDES acre 14.94 1.0000 14.94 _________ HERBICIDES acre 44.80 1.0000 44.80 _________ INSECTICIDES acre 4.92 1.0000 4.92 _________ SEED/PLANTS acre 52.00 1.0000 52.00 _________ ADJUVANTS acre 0.35 1.0000 0.35 _________ HAULING acre 12.04 1.0000 12.04 _________ CUSTOM LIME acre 11.25 1.0000 11.25 _________ HAND LABOR hour 9.06 0.1543 1.40 _________ OPERATOR LABOR hour 11.71 0.4499 5.28 _________ UNALLOCATED LABOR hour 11.73 0.4049 4.75 _________ DIESEL FUEL gal 3.50 4.7945 16.79 _________ REPAIR & MAINTENANCE acre 8.39 1.0000 8.39 _________ INTEREST ON OP. CAP. acre 5.93 1.0000 5.93 _________ --------- TOTAL DIRECT EXPENSES 242.98 _________ RETURNS ABOVE DIRECT EXPENSES 318.17 _________ TOTAL FIXED EXPENSES 29.86 _________ --------- TOTAL SPECIFIED EXPENSES 272.84 _________ RETURNS ABOVE TOTAL SPECIFIED EXPENSES 288.31 _________ _______________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices. Fertilization decisions should be based on soil tests.
The budget does not include a second fungicide application to control Asian soybean rust, but the cost of treatment could range from $7 to $12 per acre. Table 6.C Estimated resource use for field operations, per acre
Soybeans, early-planted, RR, reduced tillage, 12R 30"
Non-Delta Area, Mississippi, 2013
_________________________________________________________________________________________________________
OPERATION/ SIZE/ POWER UNIT PERF TIMES INPUT POWER ALLOC UNALL
OPERATING INPUT UNIT SIZE RATE OVER MTH AMOUNT IMPLEMENT UNIT LABOR LABOR
_________________________________________________________________________________________________________
-------------hours------------
Lime (Spread) ton 0.25 Oct 0.2500
Spin Spreader 5 ton MFWD 190 0.042 1.00 Oct 0.04 0.04 0.08 0.03
Phosphorus(46% P2O5) cwt 0.6600
Potash (60% K2O) cwt 1.0000
Disk Harrow 24' MFWD 190 0.081 1.00 Oct 0.08 0.08 0.08 0.07
Field Cultivate Fld 24' MFWD 190 0.062 1.00 Oct 0.06 0.06 0.06 0.05
App by Air ( 5 gal) appl 1.00 Mar 1.0000
Glyphosate 3lbs a.e pt 2.0000
2,4-D Amine 4 pt 2.0000
Valor SX oz 2.0000
Plant - Folding 12R-30 MFWD 190 0.062 1.00 Apr 0.06 0.06 0.12 0.05
Soybean Seed RR2 lb 50.0000
CruiserMaxx oz 1.6000
Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02
Glyphosate 3lbs a.e pt 2.0000
Dual Magnum pt 1.0000
Tricor DF lb 0.3000
Spray (Broadcast) 60' MFWD 190 0.028 1.00 May 0.02 0.02 0.04 0.02
Glyphosate 3lbs a.e pt 2.0000
Spray (Broadcast) 60' MFWD 190 0.028 0.50 Jul 0.01 0.01 0.02 0.01
Headline EC oz 3.0000
Spray (Broadcast) 60' MFWD 190 0.028 1.00 Aug 0.02 0.02 0.04 0.02
Acephate 90SP lb 0.7500
App by Air ( 5 gal) appl 0.50 Aug 0.5000
Paraquat oz 8.0000
Surfactant pt 0.1000
Header -Soybean 25' Flex 265 hp 0.102 1.00 Sep 0.10 0.10 0.10 0.09
Haul Soybeans/Field bu 43.0000
------- ------- ------- -------
TOTALS 0.44 0.44 0.60 0.40
_________________________________________________________________________________________________________
Note: Cost of production estimates are based on 2012 input prices.
Fertilization decisions should be based on soil tests.
The budget does not include a second fungicide application to
control Asian soybean rust, but the cost of treatment could range
from $7 to $12 per acre.
Table 6.D Estimated costs for field operations, per acre
Soybeans, early-planted, RR, reduced tillage, 12R 30"
Non-Delta Area, Mississippi, 2013
_________________________________________________________________________________________________________
OPERATION/ SIZE/ -------------------------DIRECT COST-------------------- FIXED TOTAL
OPERATING INPUT UNIT OP INPUT FUEL R&M LABOR LEASE INTER TOTAL COST COST
_________________________________________________________________________________________________________
---------------------------------dollars--------------------------------
Lime (Spread) ton 11.25 0.48 11.73 11.73
Spin Spreader 5 ton 1.44 0.46 1.31 0.14 3.35 1.83 5.18
Phosphorus(46% P2O5) cwt 19.34 0.82 20.16 20.16
Potash (60% K2O) cwt 29.80 1.27 31.07 31.07
Disk Harrow 24' 2.80 1.18 1.82 0.25 6.05 4.23 10.28
Field Cultivate Fld 24' 2.13 0.68 1.39 0.18 4.38 3.57 7.95
App by Air ( 5 gal) appl 6.00 0.15 6.15 6.15
Glyphosate 3lbs a.e pt 3.58 0.09 3.67 3.67
2,4-D Amine 4 pt 5.08 0.13 5.21 5.21
Valor SX oz 11.10 0.28 11.38 11.38
Plant - Folding 12R-30 2.15 1.54 1.97 0.12 5.78 4.36 10.14
Soybean Seed RR2 lb 52.00 1.11 53.11 53.11
CruiserMaxx oz 6.51 0.14 6.65 6.65
Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11
Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64
Dual Magnum pt 13.54 0.24 13.78 13.78
Tricor DF lb 4.34 0.08 4.42 4.42
Spray (Broadcast) 60' 0.97 0.29 0.76 0.04 2.06 1.05 3.11
Glyphosate 3lbs a.e pt 3.58 0.06 3.64 3.64
Spray (Broadcast) 60' 0.48 0.14 0.38 0.01 1.01 0.52 1.53
Headline EC oz 8.43 0.09 8.52 8.52
Spray (Broadcast) 60' 0.97 0.29 0.76 0.01 2.03 1.05 3.08
Acephate 90SP lb 4.92 0.03 4.95 4.95
App by Air ( 5 gal) appl 3.00 0.02 3.02 3.02
Paraquat oz 2.00 0.01 2.01 2.01
Surfactant pt 0.35 0.35 0.35
Header -Soybean 25' Flex 4.88 3.52 2.28 0.04 10.72 12.20 22.92
Haul Soybeans/Field bu 12.04 0.04 12.08 12.08
------- ------- ------- ------- ------- ------- ------- ------- -------
TOTALS 200.44 16.79 8.39 11.43 0.00 5.93 242.98 29.86 272.84
_________________________________________________________________________________________________________
Note: Cost of production estimates are based on 2012 input prices.
Fertilization decisions should be based on soil tests.
The budget does not include a second fungicide application to
control Asian soybean rust, but the cost of treatment could range
from $7 to $12 per acre.
Table 6.E Estimated monthly income and expense flows per acre Soybeans, early-planted, RR, reduced tillage, 12R 30" Non-Delta Area, Mississippi, 2013 __________________________________________________________________________________________________________________________________ ITEM Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep __________________________________________________________________________________________________________________________________ --------------------------------------------------dollars-------------------------------------------------- TOTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 561.15 DIRECT EXPENSES CUSTOM SPRAY 0.00 0.00 0.00 0.00 0.00 6.00 0.00 0.00 0.00 0.00 3.00 0.00 HARVEST AIDS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.00 0.00 FERTILIZERS 49.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUNGICIDES 0.00 0.00 0.00 0.00 0.00 0.00 6.51 0.00 0.00 8.43 0.00 0.00 HERBICIDES 0.00 0.00 0.00 0.00 0.00 19.76 0.00 25.04 0.00 0.00 0.00 0.00 INSECTICIDES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.92 0.00 SEED/PLANTS 0.00 0.00 0.00 0.00 0.00 0.00 52.00 0.00 0.00 0.00 0.00 0.00 ADJUVANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 0.00 HAULING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.04 CUSTOM LIME 11.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LABOR 4.52 0.00 0.00 0.00 0.00 0.00 1.97 1.52 0.00 0.38 0.76 2.28 LEASE * 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FUEL 6.37 0.00 0.00 0.00 0.00 0.00 2.15 1.94 0.00 0.48 0.97 4.88 REPAIR & MAINTENANCE 2.32 0.00 0.00 0.00 0.00 0.00 1.54 0.58 0.00 0.14 0.29 3.52 INTEREST ON OP. CAP. 3.14 0.00 0.00 0.00 0.00 0.65 1.37 0.52 0.00 0.10 0.07 0.08 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- TOTAL DIRECT EXPENSES 76.74 0.00 0.00 0.00 0.00 26.41 65.54 29.60 0.00 9.53 12.36 22.80 NET INCOME -76.74 0.00 0.00 0.00 0.00 -26.41 -65.54 -29.60 0.00 -9.53 -12.36 538.35 NET INCOME TO DATE -76.74 -76.74 -76.74 -76.74 -76.74 -103.15 -168.69 -198.29 -198.29 -207.82 -220.18 318.17 __________________________________________________________________________________________________________________________________ Note: Cost of production estimates are based on 2012 input prices.

Source: http://www.agecon.msstate.edu/whatwedo/budgets/docs/13/MSUSOY13.pdf