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2013 Crop Budget Projections Presented by: Ben Beale Extension Agent-St. Mary’s Co. General Farm Statistics. Field Crop (acres). State of Maryland. Number of Farms in Maryland: 8,278 # of Acres Harvested in MD:1,246,603 - PowerPoint PPT Presentation
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2013 Crop Budget ProjectionsPresented by:
Ben BealeExtension Agent-St. Mary’s Co.
General Farm Statistics
Crop St. Mary’s Charles Calvert Total
Number of Farms
621 418 274 1313
Land in Farms 71920 52147 26443 150510
Average Size 109 125 97 -------
Value of Sales in 1000’s
Crop St. Mary’s Charles Calvert Total
Total 15947 8898 4052 28897
Grain 4497 3286 1459 9442
Tobacco 906 151 127 1184
Vegetables 2411 939 588 3938
Nursery and Greenhouse
3163 1554 600(est) 4717
Field Crop (acres)
Crop St. Mary’s Charles Calvert Total
Corn 10351 7826 4685 22862
Soybeans 13479 7098 2419 22996
Wheat 4431 3400 1894 9725
Barley 1010 502 143 1655
Tobacco 496 82 50 628
Forage 5579 4832 2730 13141
Vegetables 696 397 400 1493
State of Maryland
• Number of Farms in Maryland: 8,278• # of Acres Harvested in MD: 1,246,603• Approximately 350,000 people are employed in some
aspect of agriculture, making it the largest commercial industry in Maryland.
• Agriculture also remains the largest single land use in the State, with 2.05 million acres, or roughly 32 percent of total land area in farms in 2010.
• The Maryland agricultural industry contributes more than $17 billion in revenue annually
Salisbury prices close 8/8/12 Basis
Cash corn 9.07 .90 Dec 1212 fall corn 8.37 .20 Dec 12
Cash soybeans 16.40 .40 Sept 1212 fall soybeans 15.41 -.40 Nov 12
August 2012 wheat 8.64 -.35 Sept 12J/J 2013 wheat 7.78 -.65 July 13
Salisbury prices close 1/16/13 Basis
Cash corn 7.71 .4513 fall corn 5.98 .10
Cash soybeans 14.05 -.2013 fall soybeans 12.41 -.40
January 2013 wheat 7.18 -.60
J/J 2013 wheat 7.25 -.65
December 2013 Corn
November 2013 Soybean
July 2013 Wheat
U.S. Annual Average Corn Price, 1908-2005
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
1908
1912
1916
1920
1924
1928
1932
1936
1940
1944
1948
1952
1956
1960
1964
1968
1972
1976
1980
1984
1988
1992
1996
2000
2004
$ Per Bushel
Source: USDA/NASS
1908-1942
35 years
Avg $0.78
1942-1972
30 years
Avg $1.26
1973-2005
33 years
Avg $2.37
ProfitProfit
Enterprise BudgetEnterprise Budget
Variable CostsVariable Costs
Fixed CostsFixed Costs
Price Price (Revenue)(Revenue)
Contribution
Break-even
Slide Adapted from: Dr. Wen-fei Uva Department of Applied Economics and ManagementCornell University
Finding your niche-Getting things in the right place.
CORN GRAIN, NO-TILL NON-IRRIGATED PER ACRE FOR Jan-13
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME
CORN GRAIN BUSHEL 150 $5.68 $852.00
VARIABLE COSTS
SEED RR 1000 SEEDS 28 $2.00 $56.00
SOIL TEST ACRE 1 0.30 0.30
NITROGEN POUND 150 0.68 102.00
PHOSPHATE POUND 30 0.78 23.40
POTASH POUND 60 0.58 34.80
LIME TON 0.5 45.00 22.50
LUMAX QUART 2.5 12.50 31.25
ATRAZINE QUART 0.5 1.00 0.50
ROUNDUP QUART 1 4.00 4.00
CROP INSURANCE (CRC 70%) ACRE 1 25.49 25.49
DRYING FUEL BUSHEL 150 0.20 30.00
INTEREST ON OPERATING CAPITAL $274.75 0.5 5.5% 7.56
TOTAL VARIABLE COSTS LISTED ABOVE $337.80
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER SPREADING ACRE 1 8.33 8.33
NO-TILL PLANTING WITH FERTILIZER ACRE 1 19.31 19.31
NITROGEN APPLICATION ACRE 1 10.21 10.21
PESTICIDE APPLICATIONS ACRE 1 8.31 8.31
HARVESTING ACRE 1 30.33 30.33
HAULING BUSHEL 150 0.15 22.50
INTEREST ON SPRING CUSTOM CHARGES 46.16 0.5 8.5% 1.96
LAND CHARGE ACRE 1 60.00 60.00
TOTAL FIXED COST LISTED ABOVE $160.95
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $498.75
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $353.25
PRICES
NET INCOME ABOVE VARIABLE AND YIELDS $4.26 $5.68 $7.10
FIXED COSTS LISTED ABOVE FOR 112.5 ($19.50) $140.25 $300.00
VARIOUS YIELDS AND PRICES 150 $140.25 $353.25 $566.25
187.5 $300.00 $566.25 $832.50
SOYBEANS RR READY PER ACRE FOR Jan-13
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME
SOYBEANS BUSHEL 40 $11.91 $476.40
VARIABLE COSTS SEED 1000 SEEDS 150 $0.36 $54.00SOIL TESTING ACRE 1 0.30 0.30 PHOSPHATE POUND 45 0.78 35.10POTASH POUND 40 0.58 23.20LIME TON 0.5 45.00 22.50GRAMOXONE INTEON PINT 2 2.87 5.74ROUNDUP QUART 1 4.00 4.00WARRIOR OUNCE 3 2.34 7.02 CROP INSURANCE (CRC 70%) ACRE 1 14.90 14.90 INTEREST ON OPERATING CAPITAL $151.86 0.5 8.5% 6.45 TOTAL VARIABLE COSTS LISTED ABOVE $173.21
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
FERTILIZER APPLICATION ACRE 1 8.33 8.33SOYBEAN - NoTill ACRE 1 17.82 17.82PESTICIDE APPLICATIONS ACRE 3 8.31 24.93HARVESTING ACRE 1 29.92 29.92HAULING BUSHEL 40 0.15 6.00
INTEREST ON SPRING CUSTOM CHARGES $51.08 0.5 5.5% $ 1.40
LAND CHARGE ACRE 1 60.00 60.00TOTAL FIXED COST LISTED ABOVE $148.40
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $321.62
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $154.78
PRICES NET INCOME ABOVE VARIABLE AND YIELDS $8.93 $11.91 $14.89 FIXED COSTS LISTED ABOVE FOR 30 ($53.64) $35.68 $125.01 VARIOUS YIELDS AND PRICES 40 $35.68 $154.78 $273.88 50 $125.01 $273.88 $422.76
WHEAT PER ACRE FOR Jan-13ITEM UNIT QUANTITY PRICE TOTALGROSS INCOME WHEAT BUSHEL 75 $6.85 $513.75VARIABLE COSTS SEED POUND 150 $0.25 $37.50SOIL TESTING ACRE 1 0.30 0.30NITROGEN POUND 70 0.68 47.60PHOSPHATE POUND 40 0.78 31.20POTASH POUND 40 0.58 23.20LIME TON 0.5 45.00 22.50 HARMONY GT XP OUNCE 0.5 11.00 5.50TILT OUNCE 4 1.93 7.72 WARRIOR OUNCE 3 2.34 7.02 OSPREY OUNCE 4.75 3.03 14.39
CROP INSURANCE (CRC 70%) ACRE 1.00 13.15 13.15
INTEREST ON OPERATING CAPITAL $196.93 0.5 8.5% 8.37TOTAL VARIABLE COSTS LISTED ABOVE $218.45
FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
SPREADING FERTILIZER ACRE 2 $8.33 $16.66VERTICAL TILLAGE ACRE 2 16.88 33.76BROADCAST SEEDING ACRE 1 17.12 17.12PESTICIDE APPLICATION ACRE 2 8.31 16.62HARVESTING ACRE 1 29.97 29.97HAULING BUSHEL 75 0.15 11.25INTEREST ON FALL CUSTOM CHARGES $84.16 0.5 5.5% 2.31 LAND CHARGE ACRE 1 60.00 60.00TOTAL FIXED COST LISTED ABOVE $187.69
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $406.15
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $107.60 PRICES NET INCOME ABOVE VARIABLE AND YIELDS $5.14 $6.85 $8.56 FIXED COSTS LISTED ABOVE FOR 56.25 ($117.16) ($20.83) $75.49 VARIOUS YIELDS AND PRICES 75 ($20.83) $107.60 $236.04 93.75 $75.49 $236.04 $396.59
CORN GRAIN, NO-TILL, POULTRY LITTER PER ACRE FOR Jan-13
ITEM UNIT QUANTITY PRICE TOTALGROSS INCOME CORN GRAIN BUSHEL 150 $5.68 $852.00 VARIABLE COSTS SEED RR 1000 SEEDS 28 $2.00 $56.00 SOIL TEST ACRE 1 0.30 0.30 NITROGEN POUND 80 0.68 54.40 PHOSPHATE POUND 0 0.78 0.00 POTASH POUND 0 0.58 0.00 POULTRY LITTER 70.44-59.42-46.86 lbs/ton TON 2 12.00 24.00 LIME TON 0.5 45.00 22.50 LUMAX QUART 2.5 12.50 31.25 ATRAZINE QUART 0.5 1.00 0.50 ROUNDUP QUART 1 4.00 4.00 CROP INSURANCE (CRC 70%) ACRE 1 25.49 25.49 DRYING FUEL BUSHEL 150 0.40 60.00 INTEREST ON OPERATING CAPITAL $192.95 0.5 5.5% 5.31 TOTAL VARIABLE COSTS LISTED ABOVE $283.75 FIXED/OVERHEAD COSTS (CUSTOM RATES ARE USED AS A PROXY FOR FIELD OPERATION COSTS)
MANURE HAULING TON 2 20.50 41.00 MANURE LOADING TON 2 10.67 21.34 MANURE SPREADING - LITTER TON 2 7.88 15.76 MINIMAL TILLAGE ACRE 1 16.88 16.88 NO-TILL PLANTING ACRE 1 19.31 19.31 NITROGEN APPLICATION ACRE 1 10.21 10.21 PESTICIDE APPLICATIONS ACRE 1 8.31 8.31 HARVESTING ACRE 1 30.33 30.33 HAULING BUSHEL 150 0.15 22.50 INTEREST ON SPRING CUSTOM CHARGES 91.81 0.5 8.5% 3.90 LAND CHARGE ACRE 1 60.00 60.00 TOTAL FIXED COST LISTED ABOVE $249.54 TOTAL VARIABLE AND FIXED COST LISTED ABOVE $533.29 NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $318.71 PRICES NET INCOME ABOVE VARIABLE AND YIELDS $4.26 $5.68 $7.10 FIXED COSTS LISTED ABOVE FOR 112.5 ($54.04) $105.71 $265.46 VARIOUS YIELDS AND PRICES 150 $105.71 $318.71 $531.71 187.5 $265.46 $531.71 $797.96
