| WHEAT/SOYBEAN DOUBLE CROP |
|
PER ACRE FOR 2013 |
|
| ITEM |
UNIT |
QUANTITY |
PRICE |
TOTAL |
|
| GROSS
INCOME |
|
|
|
|
|
| WHEAT |
BUSHEL |
75 |
$7.88
|
$591.00
|
|
| SOYBEANS |
BUSHEL |
25 |
$13.02
|
$325.50
|
|
| TOTAL
GROSS INCOME |
|
|
|
$916.50
|
|
| VARIABLE
COSTS |
|
|
|
|
|
| SEED-WHEAT |
POUND |
150 |
$0.28 |
$42.45 |
|
| SEED-SOYBEANS |
1000 SEEDS |
175 |
0.36 |
63.00 |
|
| SOIL TEST |
ACRE |
1 |
0.30 |
0.30 |
|
| NITROGEN |
POUND |
70 |
0.70 |
49.00 |
|
| PHOSPHATE |
POUND |
85 |
0.50 |
42.50 |
|
| POTASH |
POUND |
75 |
0.49 |
36.75 |
|
| LIME |
TON |
0.5 |
30.00 |
15.00 |
|
| HARMONY
GT XP |
OUNCE |
0.5 |
12.50 |
6.25 |
|
| OSPREY |
OUNCE |
4.75 |
3.03 |
14.39 |
|
| SURFACTANT |
QUART |
1 |
2.25 |
2.25 |
|
| TILT |
OUNCE |
4 |
1.93 |
7.72
|
|
| WARRIOR |
OUNCE |
6 |
2.34 |
14.04
|
|
| GRAMOXONE INTEON |
PINT |
3 |
3.37 |
10.11
|
|
| ROUNDUP |
QUART |
1 |
7.71 |
7.71
|
|
| CROP INSURANCE-WHEAT (CRC 70%) |
ACRE |
1.00 |
13.15 |
13.15 |
|
| CROP
INSURANCE-BEANS (CRC 70%) |
ACRE |
1.00 |
14.90 |
14.90 |
|
| INTEREST ON OPERATING
CAPITAL |
$311.47
|
0.50 |
8.5% |
13.24 |
|
| TOTAL
VARIABLE COSTS LISTED ABOVE |
352.76 |
|
| NET INCOME OVER
VARIABLE COSTS LISTED ABOVE |
$563.74
|
|
| FIXED/OVERHEAD COSTS
(CUSTOM RATES ARE USED AS A PROXY FOR FIELD
OPERATION COSTS) |
|
| FERTILIZER SPREADING |
ACRE |
2 |
8.78
|
17.56 |
|
| VERTICAL
TILLAGE |
ACRE |
2 |
18.41
|
36.82 |
|
| BROADCAST
SEEDING |
ACRE |
1 |
21.71
|
21.71 |
|
| NOTILL
DRILLING |
ACRE |
1 |
22.07
|
22.07 |
|
| PESTICIDE
APPLICATION |
ACRE |
4 |
8.99
|
35.96 |
|
| HARVESTING |
ACRE |
2 |
32.01
|
64.02 |
|
| HAULING |
BUSHEL |
100 |
0.15
|
15.00 |
|
| INTEREST
ON FALL/SPRING CUSTOM CHARGES |
$134.12 |
0.5 |
8.5% |
5.70 |
|
| LAND
CHARGE |
ACRE |
1 |
98.00
|
98.00 |
|
| TOTAL
FIXED COST LISTED ABOVE |
|
|
|
$316.84 |
|
| TOTAL
VARIABLE AND FIXED COST LISTED ABOVE |
$669.60 |
|
| NET INCOME OVER
VARIABLE & FIXED COSTS LISTED ABOVE |
$246.90 |
|
| |
|
|
PRICES |
| |
WHEAT |
|
$5.91
|
$7.88
|
$9.85
|
| NET INCOME ABOVE
VARIABLE AND |
|
BEAN |
$9.77 |
$13.02 |
$16.28 |
| FIXED COSTS LISTED ABOVE
FOR |
56 |
19 |
($154.07) |
$17.77
|
$189.62
|
| VARIOUS YIELDS AND
PRICES |
75 |
25 |
$17.77
|
$246.90
|
$476.02
|
| Sensitivity Analysis
based on soybeans/wheat yield and price |
94 |
31 |
$189.62
|
$476.02
|
$762.43
|
|
|
|
|
|
|
| Assumptions |
|
| Local hauling within 30
miles of farm |
|
| Fertility rates based on
MCE SFM-1 guidelines |
|
| Assuming medium
fertility levels |
|
| 1 Post-plant bean
glyphosate application |
|
| Sensitivity
analysis based on 75%,100% and 125% of yield of beans and current forward
contract price of beans/wheat. |
|