2021 Crop Budgets (Enter Data in Yellow Cells)

Corn Soybeans

Percent of Acres (total; column G) 100.0% 50.0% 50.0%

Yield per Acre 216.0 66.0
New Crop Futures Price ($/bu) $3.90 $9.80
Expected Basis at Delivery ($/bu) -0.25 -0.35
Cash Price ($/bu) $3.65 $9.45

Revenue per Acre

Per Acre
Crop Revenue $788.40 $623.70
ARC/PLC Payments (2020 crop) 10.00 10.00
Expected Crop Insurance Payment 0.00 0.00
Other Revenue (zero in most situations) 0.00 0.00

Total Revenue per Acre $798.40 $633.70

Cost per Acre

Per Acre
Fertilizer $114.00 $52.00
Seed 111.00 67.00
Pesticides 58.00 50.00
Dryer Fuel 31.00 0.00
Machinery Fuel 13.00 8.00
Machinery Repairs 22.00 18.00
Hauling (charge per bu.; column G) $0.10 21.60 6.60
Operating Interest (rate; column G) 5.0% 11.35 6.86
Crop Insurance 22.00 20.00
General Farm Insurance 6.00 6.00
Miscellaneous 12.00 8.00

Variable Cost per Acre $421.95 $242.46

Contribution Margin per Acre $376.45 $391.24

Machinery and Building Depreciation $50.00 $50.00

Machinery and Building Interest 30.00 30.00
Hired Labor 17.00 17.00
Operator and Family Labor 22.00 22.00
Land 274.00 274.00

Overhead Cost per Acre $393.00 $393.00

Total Cost per Acre $814.95 $635.46

Earnings per Acre -$16.55 -$1.76

Breakeven Price per Bushel $3.77 $9.63

 Wheat DC Soybeans Average

0.0%
0.0 0.0
$0.00 $0.00
0.00 0.00
$0.00 $0.00

Per Acre
$0.00 $0.00 $706.05
0.00 0.00 10.00
0.00 0.00 0.00
0.00 0.00 0.00

$0.00 $0.00 $716.05

Per Acre
$0.00 $0.00 $83.00
0.00 0.00 89.00
0.00 0.00 54.00
0.00 0.00 15.50
0.00 0.00 10.50
0.00 0.00 20.00
0.00 0.00 14.10
0.00 0.00 9.11
0.00 0.00 21.00
0.00 0.00 6.00
0.00 0.00 10.00

$0.00 $0.00 $332.21

$0.00 $0.00 $383.84

$0.00 $0.00 $50.00

0.00 0.00 30.00
0.00 0.00 17.00
0.00 0.00 22.00
0.00 0.00 274.00

$0.00 $0.00 $393.00

 $0.00 $0.00 $725.21

$0.00 $0.00 -$9.16

#DIV/0! #DIV/0!
Input - Prices and Yields for Next Five Years (Enter Data in Yellow Cells)

Acres Operated

Total Acres Operated 3000

Percent of Acres Operated Included in Analysis 50.0%

Yields for 2020 through 2024

Crop Yield
Δ bu / year 2021 2022 2023 2024 2025

Corn 2.00 216.00 218.00 220.00 222.00 224.00

Soybeans 0.50 66.00 66.50 67.00 67.50 68.00
Wheat 1.00 0.00 1.00 2.00 3.00 4.00
DC Soybeans 0.35 0.00 0.35 0.70 1.05 1.40

Cash Price Scenarios

Dollars per Bushel
2021 2022 2023 2024 2025

Corn $3.65 $3.65 $3.65 $3.65 $3.65

Soybeans $9.45 $9.15 $9.15 $9.15 $9.15
Wheat $0.00 $0.00 $0.00 $0.00 $0.00
DC Soybeans $0.00 $0.00 $0.00 $0.00 $0.00

Non-Land Cost Changes

Non-Land Cost per Acre
% Δ / year 2021 2022 2023 2024 2025

Corn 0.0% $540.95 $540.95 $540.95 $540.95 $540.95

Soybeans 0.0% $361.46 $361.46 $361.46 $361.46 $361.46
Wheat 0.0% $0.00 $0.00 $0.00 $0.00 $0.00
DC Soybeans 0.0% $0.00 $0.00 $0.00 $0.00 $0.00

Projected Earnings
Cash Flow per Acre
2021 2022 2023 2024 2025

Crop Revenue $706.05 $702.09 $708.03 $713.96 $719.90

ARC/PLC Payments 10.00 10.00 10.00 10.00 10.00
Expected Crop Insurance Payment 0.00 0.00 0.00 0.00 0.00
Other Revenue 0.00 0.00 0.00 0.00 0.00
Total Revenue $716.05 $712.09 $718.03 $723.96 $729.90

Non-Land Cost $451.21 $451.21 $451.21 $451.21 $451.21

Land Cost $274.00 $274.00 $274.00 $274.00 $274.00
Total Cost $725.21 $725.21 $725.21 $725.21 $725.21

Earnings -$9.16 -$13.12 -$7.18 -$1.24 $4.69

Break-Even Rents

2021 2022 2023 2024 2025

All Costs Included $264.84 $260.88 $266.82 $272.76 $278.69

Cash Rent Premium $9.16 $13.12 $7.18 $1.24 -$4.69

Working Capital Analysis

Beg WC / acre 2021 2022 2023 2024 2025

$250.00

Working Capital per Acre $245.42 $238.86 $235.27 $234.65 $237.00

Working Capital to Gross Revenue 34.3% 33.5% 32.8% 32.4% 32.5%

Increase in Machinery, Building, and

Labor Cost per Acre if Acres are Given Up $119.00 $119.00 $119.00 $119.00 $119.00