AE 16-03
Field Crop
Budgets
For 2016
Field Crop Budgets
For 2016
S. Aaron Smith
Assistant Professor
Agricultural & Resource Economics
Becky Bowling
Extension Specialist
Agricultural & Resource Economics
Samuel C. Danehower
Area Specialist, Farm Management
Agricultural & Resource Economics
Contributors
David Bilderback
Area Specialist, Farm Management
Dallas Manning
Area Specialist, Farm Management
Heather Young-Kelly
Assistant Professor, Plant Pathology
Angela Thompson McClure
Associate Professor, Plant Sciences
Scott D. Stewart
Professor, Entomology and Plant Pathology
Larry Steckel
Professor, Plant Sciences
Edward Burns
Extension Agent, Franklin County
Richard Buntin
Extension Director, Crockett County
Jeff Lannom
Extension Director, Weakley County
Tyson Raper
Assistant Professor, Plant Sciences
Daniel Morris
Area Specialist, Farm Management
Tim Campbell
Extension Agent, Dyer County
TABLE OF CONTENTS
Introduction and Disclaimer
1
Budgets
Corn, No-Till, Non-Irrigated, 150 Bushels/Acre Yield
3
Corn, Conventional Tillage, Non-Irrigated, 150 Bushels/Acre Yield
6
Corn, No-Till, Irrigated, 225 Bushels/Acre Yield
9
Soybeans, No-Till, Non-Irrigated, 45 Bushels/Acre Yield
12
Soybeans, No-Till, Irrigated, 60 Bushels/Acre Yield
15
Wheat/Soybeans Double Cropped, Non-Irrigated, 60 Bushels/Acre
Yield and 35 Bushel/Acre Yield
18
Wheat, Conventional Tillage, Non-Irrigated, 60 Bushels/Acre Yield
21
Cotton, No-Till, Non-Irrigated, 875 lbs/Acre Yield
24
Cotton, Conventional Tillage, Non-Irrigated, 850 lbs/Acre Yield
27
Cotton, No-Till, Irrigated, 1,100 lbs/Acre Yield
30
Grain Sorghum, No-Till, Non-Irrigated, 90 Bushels/Acre Yield
33
Grain Sorghum, Conventional Tillage, Non-Irrigated, 90 Bushels/Acre Yield
36
Canola, Conventional Tillage, Non-Irrigated, 50 Bushels/Acre Yield
39
Appendices
Appendix 1: Input Summary Tables
42
Appendix 2: Field Operations Table
45
Appendix 3: Budget Summary
46
Introduction and Disclaimer
The 2016 Tennessee Row Crop Budgets were developed to assist producers and other
agricultural decision makers to evaluate the returns of different row cropping alternatives. The
budgets developed use production alternatives, management strategies, machinery, and inputs
that are commonly utilized in row crop production in Tennessee. Given the diverse nature of row
crop production in the state, it is impossible to account for all possible production scenarios and
circumstances. As such, this guide should be utilized to assist decision makers in their annual
planning efforts. To develop a custom budget for a specific field or operation, interested parties
are strongly encouraged to use the University of Tennessee Extension’s Excel-based spreadsheet
available online at: http://economics.ag.utk.edu/crop.html. The spreadsheet uses the same format
as the budgets contained in this document; however, it allows the user to change yields, input
quantities, input prices, machinery costs, and add additional costs that are specific to a field or
enterprise. This allows users to adjust for region- and site-specific production methodology and
input selections.
This publication and the accompanying Excel spreadsheet contain short-term planning
budgets for canola, corn, cotton, grain sorghum, soybean, and wheat enterprises. These budgets
should be used for short-run or annual plans developed for 2016, as significant changes may
occur from year-to-year in production methods and input and output prices.
The fertilizer recommendations in the crop budgets are generally for soils that have a
medium soil test. Farmers should have their soils tested in order to get maximum return for
money spent for fertilizer. As crop programs are planned, the fertilizer applications can be
adjusted to the soil test recommendations.
Disclaimer: Significant variability in inputs, prices, and production methods exist in the
production of row crops. The information contained in this document relies on estimates and
assumptions that are specific to Tennessee row-crop production. These budgets should not be
construed as a reflection of all circumstances across the state, as significant regional variability
will occur. To improve the accuracy, users are encouraged to use inputs, prices, and processes
that are utilized on their specific farms in budget calculations.
Trade Names, Herbicides, Insecticides, and Pesticide Caution
Use of trade or brand names in this publication is for clarity and information: It does not
imply approval of the product to the exclusion of others that may be of similar, suitable
composition, nor does it guarantee or warrant the standard of the product.
The herbicide and insecticide programs used in these budgets are based on UT Extension
publications titled “2016 Weed Control Manual for Tennessee” (PB1580) and “2016 Insect
Control Recommendations for Field Crops” (PB1768). Pesticides recommended in the
publication were registered for the prescribed uses when this manual was printed. Pesticide
registrations are continuously being reviewed. Should registration of a recommended pesticide
be canceled, it will no longer be recommended by The University of Tennessee.
1
In order to protect people and the environment, pesticides should be used safely.
This is everyone’s responsibility, especially the user. Read and follow label directions carefully
before you buy, mix, apply, store, or dispose of a pesticide. According to laws regulating
pesticides, they must be used only as directed by the label.
No direct government program benefits are included in the budgets. Adjust the estimates
as appropriate.
For additional information on the 2016 Tennessee Row Crop Budgets please contact:
Aaron Smith
Assistant Professor
Department of Agricultural & Resource Economics
2621 Morgan Circle
325B Morgan Hall
Knoxville, TN 37996
Ph: 865-974-7476
E-mail: [email protected]
Or,
Becky Bowling
Extension Specialist
Department of Agricultural & Resource Economics
2621 Morgan Circle
307 Morgan Hall
Knoxville, TN 37996
Ph: 865-974-1895
E-mail: [email protected]
2
2016 Corn, No-Till, Non-Irrigated Budget
Unit
Revenue
Corn 1
Bu
Variable Expenses
Seed 2,3
Fertilizer & Lime (Table 1.)
Chemical (Table 2.) 3,4
Crop Scout or Consultant
Repair & Maintenance (Table 3.)
Fuel, Oil & Filter (Table 3.)
Operator Labor (Table 3.)
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Quantity
Price
Total
Gross Revenue ($/Acre)
150
$3.82 $573.00
Total Revenue $573.00
32
$3.13
1
$140.98
1
$48.60
1
$6.00
1
$21.18
1
$8.72
1
$5.20
1
$0.00
1
$0.00
150
$0.00
1
$98.00
1
$13.84
$442.51
6.00%
1
$0.00
Total Variable Expenses
Return above Variable Expenses
Your Farm
_________
_________
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
$100.00
$140.98
$48.60
$6.00
$21.18
$8.72
$5.20
$0.00
$0.00
$0.00
$98.00
$13.84
$13.28
$0.00
$455.79
$117.21
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
$41.13
$0.00
$0.00
$0.00
$15.00
$0.00
$56.13
$61.08
_________
_________
_________
_________
_________
_________
_________
_________
Fixed Expenses
Machinery 8
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Yield
(bu)
100
110
120
130
140
150
160
170
180
190
200
1
$41.13
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price for Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$4.56
$5.12
$4.14
$4.65
$3.80
$4.27
$3.51
$3.94
$3.26
$3.66
$3.04
$3.41
$2.85
$3.20
$2.68
$3.01
$2.53
$2.84
$2.40
$2.69
$2.28
$2.56
Price
($/bu)
$2.57
$2.82
$3.07
$3.32
$3.57
$3.82
$4.07
$4.32
$4.57
$4.82
$5.07
3
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
177
199
162
182
148
167
137
154
128
143
119
134
112
126
106
119
100
112
95
106
90
101
4
Total
Fungicides 4
Total
Table 3. Machinery 8
Power Unit
Plant
Tractor, 215 hp
Weed Control SP Boom Sprayer
Weed Control SP Boom Sprayer
Weed Control SP Boom Sprayer
Fertilize
Tractor, 215 hp
Harvest
Combine
Haul
Tractor, 215 hp
Haul
Semi Tractor/Trailer
Other
Other
Insecticides
Post-Emerge
Pre-Emerge
Fertilize Spreader
Corn Head
Grain Cart
Implement
Planter
Description
Gramoxone SL
Surfactant
Atrazine 4L
Gramoxone SL
Halex GT
Atrazine 4L
70
1,000
0
K20
Limestone
Potassium
Lime
Other
Total
Table 2. Chemicals 3,4
Chemical
Function
Burndown
Herbicides 3
Quantity (lbs)
170
70
Description
Urea
P 2 O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
800 bu
Size
16-row
90'
90'
90'
900#
8-row
Unit
oz.
pt.
qt.
oz.
pt.
qt.
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.40
$41.13
Capital Recovery
$6.46
$4.19
$4.19
$4.19
$1.65
$13.30
$2.31
$4.83
Number of Apps.
1
1
1
1
1
1
$24.62
$15.00
$0.00
$140.98
Total ($/Acre)
$73.36
$28.00
$21.18
Repairs & Maintenance
$3.71
$0.24
$0.24
$0.24
$2.03
$13.13
$1.06
$0.52
Quantity
40
0.2
1
40
3.6
1.5
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$8.72
Fuel, Oil & Filter
$1.00
$0.19
$0.19
$0.19
$1.06
$4.30
$0.65
$1.16
Price
$0.25
$3.52
$3.60
$0.25
$5.25
$3.60
$0.00
$0.00
$0.00
$0.00
$0.00
$5.20
Labor
$0.79
$0.16
$0.16
$0.16
$0.84
$1.64
$0.52
$0.93
Total ($/Acre)
$10.00
$0.70
$3.60
$10.00
$18.90
$5.40
$0.00
$0.00
$0.00
$0.00
$0.00
$48.60
$76.23
Total
$11.96
$4.78
$4.78
$4.78
$5.58
$32.37
$4.53
$7.44
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31,
2015, adjusted by monthly basis.
2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 32,000
seeds/acre. Seed treatment is included in the price.
3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.
4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost. Cost
will vary depending on the fungicide used and the application rate.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of corn in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
5
2016 Corn, Conventional Tillage, Non-Irrigated Budget
Unit
Revenue
Corn 1
Bu
Variable Expenses
Seed 2,3
Fertilizer & Lime (Table 1.)
Chemical (Table 2.) 3, 4
Crop Scout or Consultant
Repair & Maintenance (Table 3.)
Fuel, Oil, & Filter (Table 3.)
Operator Labor (Table 3.)
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Fixed Expenses
Machinery 8
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Yield
(bu)
100
110
120
130
140
150
160
170
180
190
200
Quantity
Price
Total
Gross Revenue ($/Acre)
150
$3.82
$573.00
Total Revenue $573.00
32
$3.13
1
$140.98
1
$37.90
1
$6.00
1
$28.12
1
$12.38
1
$8.09
1
$0.00
1
$0.00
150
$0.00
1
$98.00
1
$13.84
$445.31
6.00%
1
$0.00
Total Variable Expenses
Return above Variable Expenses
Your Farm
_________
_________
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
$100.00
$140.98
$37.90
$6.00
$28.12
$12.38
$8.09
$0.00
$0.00
$0.00
$98.00
$13.84
$13.36
$0.00
$458.66
$114.34
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
$45.75
$0.00
$0.00
$0.00
$15.00
$0.00
$60.75
$53.59
_________
_________
_________
_________
_________
_________
_________
_________
1
$45.75
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price for Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$4.59
$5.19
$4.17
$4.72
$3.82
$4.33
$3.53
$4.00
$3.28
$3.71
$3.06
$3.46
$2.87
$3.25
$2.70
$3.06
$2.55
$2.89
$2.41
$2.73
$2.29
$2.60
Breakeven Yield for Selected Price
Total Specified Cost
Price
Variable Cost (bu)
(bu)
($/bu)
178
202
$2.57
163
184
$2.82
149
169
$3.07
138
156
$3.32
128
145
$3.57
120
136
$3.82
113
128
$4.07
106
120
$4.32
100
114
$4.57
95
108
$4.82
90
102
$5.07
6
7
Description
Urea
P 2 O5
Total
Fungicides 4
Total
Table 3. Machinery 8
Power Unit
Chisel
Tractor, 215 hp
Disk
Tractor, 215 hp
Prepare Seedbed Tractor, 215 hp
Plant
Tractor, 215 hp
Fertilize
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Harvest
Combine
Haul
Tractor, 215 hp
Haul
Semi Tractor/Trailer
Other
Other
Insecticides
Post-Emerge
K20
Potassium
Lime
Limestone
Other
Total
Table 2. Chemicals 3,4
Chemical
Function
3
Pre-Emerge
Herbicides
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
Corn Head
Grain Cart
Implement
Chisel Plow
Tandem Disk
Do-All
Planter
Fertilize Spreader
Description
Atrazine 4L
Gramoxone SL
Halex GT
Atrazine 4L
70
1,000
0
Quantity (lbs)
170
70
800 bu
Size
21'
29'
26.5'
16-row
900#
90'
90'
8-row
Unit
qt.
oz.
pt.
qt.
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.40
$45.75
Capital Recovery
$1.90
$4.48
$2.43
$6.46
$1.65
$4.19
$4.19
$13.30
$2.31
$4.83
Number of Apps.
1
1
1
1
$24.62
$15.00
$0.00
$140.98
Total ($/Acre)
$73.36
$28.00
$28.12
Repairs & Maintenance
$2.38
$2.59
$2.21
$3.71
$2.03
$0.24
$0.24
$13.13
$1.06
$0.52
Quantity
1
40
3.6
1.5
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$12.38
Fuel, Oil & Filter
$1.45
$1.17
$1.22
$1.00
$1.06
$0.19
$0.19
$4.30
$0.65
$1.16
Price
$3.60
$0.25
$5.25
$3.60
$0.00
$0.00
$0.00
$0.00
$0.00
$8.09
Labor
$1.16
$0.93
$0.97
$0.79
$0.84
$0.16
$0.16
$1.64
$0.52
$0.93
Total ($/Acre)
$3.60
$10.00
$18.90
$5.40
$0.00
$0.00
$0.00
$0.00
$0.00
$37.90
$94.34
Total
$6.88
$9.17
$6.84
$11.96
$5.58
$4.78
$4.78
$32.37
$4.53
$7.44
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31,
2015, adjusted by monthly basis.
2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 32,000
seeds/acre. Seed treatment is included in the price.
3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.
4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost.
Cost will vary depending on the fungicide used and the application rate.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of corn in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
8
2016 Corn, No-Till, Irrigated Budget
Unit
Revenue
Corn1
Bu
Variable Expenses
Seed 2,3
Fertilizer & Lime (Table 1.)
35
$3.13
1
$186.22
1
$48.60
1
$6.00
1
$21.18
1
$8.72
1
$5.20
0
$0.00
0
$0.00
225
$0.00
7.2
$2.90
1
$10.88
1
$0.00
1
$165.00
1
$13.84
$595.89
6.00%
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
3,4
Chemical (Table 2.)
Crop Scout
Repair & Maintenance (Table 3.)
Fuel, Oil & Filter (Table 3.)
Operator Labor (Table 3.)
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Irrigation Energy Cost (Diesel)
Irrigation System R&M
Other Irrigation Costs
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Fixed Expenses
Machinery 8
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Capital Recovery (Irrigation Equipment) 9
Other Fixed Irrigation Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor 10
Other Fixed Costs
Yield
(bu)
175
185
195
205
215
225
235
245
255
265
275
Price
Total
Gross Revenue ($/Acre)
225
$3.82
$859.50
Total Revenue $859.50
Quantity
_________
_________
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Ac-In
Acre
Acre
Acre
Acre
%
Acre
$109.38
$186.22
$48.60
$6.00
$21.18
$8.72
$5.20
$0.00
$0.00
$0.00
$20.88
$10.88
$0.00
$165.00
$13.84
$17.88
$0.00
$613.77
$245.73
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
$41.13
$0.00
$87.81
$0.00
$0.00
$0.00
$30.00
$0.00
$158.94
$86.79
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
1
$41.13
1
$0.00
1
$87.81
1
$0.00
1
$0.00
1
$0.00
2
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$3.51
$4.42
$3.32
$4.18
$3.15
$3.96
$2.99
$3.77
$2.85
$3.59
$2.73
$3.43
$2.61
$3.29
$2.51
$3.15
$2.41
$3.03
$2.32
$2.92
$2.23
$2.81
Your Farm
Breakeven Yield for Selected Price
Total Specified Cost
Price ($/bu) Variable Cost (bu)
(bu)
239
301
$2.57
218
274
$2.82
200
252
$3.07
185
233
$3.32
172
216
$3.57
161
202
$3.82
151
190
$4.07
142
179
$4.32
134
169
$4.57
127
160
$4.82
121
152
$5.07
10
Unit
oz.
pt.
qt.
oz.
pt.
qt.
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.40
Table 3. Machinery 8
Power Unit
Implement
Size
Plant
Tractor, 215 hp
Planter
16-row
Weed Control SP Boom Sprayer
90'
Weed Control SP Boom Sprayer
90'
Weed Control SP Boom Sprayer
90'
Fertilize
Tractor, 215 hp
Fertilize Spreader
900#
Harvest
Combine
Corn Head
8-row
Haul
Tractor, 215 hp
Grain Cart
Haul
Semi Tractor/Trailer
800 bu
Other
Other
Total
Fungicides 4
Total
Insecticides
Post-Emerge
Pre-Emerge
Description
Gramoxone SL
Surfactant
Atrazine 4L
Gramoxone SL
Halex GT
Atrazine 4L
90
1,000
0
K20
Limestone
Potassium
Lime
Other
Total
Table 2. Chemicals 3,4
Chemical
Function
Burndown
Herbicides 3
Quantity (lbs)
240
90
Description
Urea
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
Repairs & Maintenance
$3.71
$0.24
$0.24
$0.24
$2.03
$13.13
$1.06
$0.52
$21.18
$41.13
Quantity
40
0.2
1
40
3.6
1.5
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
Capital Recovery
$6.46
$4.19
$4.19
$4.19
$1.65
$13.30
$2.31
$4.83
Number of Apps.
1
1
1
1
1
1
$31.65
$15.00
$0.00
$186.22
Total ($/Acre)
$103.57
$36.00
$8.72
Fuel, Oil & Filter
$1.00
$0.19
$0.19
$0.19
$1.06
$4.30
$0.65
$1.16
Price
$0.25
$3.52
$3.60
$0.25
$5.25
$3.60
$0.00
$0.00
$0.00
$0.00
$0.00
$5.20
Labor
$0.79
$0.16
$0.16
$0.16
$0.84
$1.64
$0.52
$0.93
Total ($/Acre)
$10.00
$0.70
$3.60
$10.00
$18.90
$5.40
$0.00
$0.00
$0.00
$0.00
$0.00
$48.60
$76.23
Total
$11.96
$4.78
$4.78
$4.78
$5.58
$32.37
$4.53
$7.44
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31, 2015,
adjusted by monthly basis.
2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 35,000 seeds/acre.
Seed treatment is included in the price.
3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.
4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost.
Cost will vary depending on the fungicide used and the application rate.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of corn in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates
provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that
would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of
equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use
the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
9) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful life of
20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farm-specific
applications.
10) Management labor for irrigated acreage is assumed to be double that of dryland acres.
11
2016 Soybean, No-Till, Non-Irrigated Budget
Revenue
Unit
Soybeans 1
Variable Expenses
Seed 3
Bu
Quantity
Price
Total
Gross Revenue ($/Acre)
45
$8.99
$404.55
Total Revenue $404.55
Your Farm
_________
_________
2
Thous.
4
140
$0.36
$50.00
_________
1
$40.27
$40.27
1
$120.31 $120.31
1
$6.00
$6.00
1
$18.33
$18.33
1
$8.02
$8.02
1
$5.10
$5.10
0
$0.00
$0.00
0
$0.00
$0.00
45
$0.00
$0.00
1
$98.00
$98.00
1
$8.97
$8.97
$355.00
6.00%
$10.65
1
$0.00
$0.00
Total Variable Expenses $365.65
Return Above Variable Expenses $38.90
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
Fertilizer & Lime (Table 1.)
Chemical (Table 2.) 5,6,7,8,9,10
Crop Scout
11
Repair & Maintenance (Table 3.)
Fuel, Oil & Filter (Table 3.) 11
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 12
Crop Insurance 13
Operating Interest 14
Other Variable Costs
Fixed Expenses
Machinery 11
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Acre
Acre
Acre
Acre
Acre
Acre
1
$47.33
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Yield
Yield
Variable Cost
Total Specified Cost
(bu)
($/bu)
($/bu)
25
$14.63
$17.12
30
$12.19
$14.27
35
$10.45
$12.23
40
$9.14
$10.70
45
$8.13
$9.51
50
$7.31
$8.56
55
$6.65
$7.78
60
$6.09
$7.13
65
$5.63
$6.58
$47.33
$0.00
$0.00
$0.00
$15.00
$0.00
$62.33
-$23.43
_________
_________
_________
_________
_________
_________
_________
_________
_________
Breakeven Yield for Selected Price
Total Specified
Price
Variable Cost (bu)
Cost (bu)
($/bu)
52
61
$6.99
49
57
$7.49
46
54
$7.99
43
50
$8.49
41
48
$8.99
39
45
$9.49
37
43
$9.99
35
41
$10.49
33
39
$10.99
12
13
Total
Post-Emerge
Insecticides
Insecticide/Fungicides
Fungicides
Total
Table 3. Machinery 11
Power Unit
Plant
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Fertilize
Tractor, 215 hp
Harvest
Combine
Haul
Tractor, 215 hp
Haul
Semi Tractor/Trailer
Post-Emerge
Pre-Emerge
Table 2. Chemicals
Chemical
Function
Herbicides
Burndown
5,6,7,8,9,10
Limestone
Lime 4
Other
Total
K20
Potassium
Table 1. Fertilizer & Lime 4
Fertilizer
Description
Nitrogen
Urea
P2O5
Phosphorous
Fertilize Spreader
Grain Head
Grain Cart
Implement
Planter
Seed Treatment
Description
Roundup Power Max
Clarity 4EC
Valor
Gramoxone SL
Boundary
Flexstar GT
Cobra
Roundup Power Max
40
1,000
0
Quantity (lbs)
0
20
800 bu
Size
16-row
90'
90'
90'
90'
90'
900#
30 ft
Unit
qt.
oz.
oz.
oz.
pt.
pt.
oz.
qt.
acre
acre
acre
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.56
$47.33
Capital Recovery
$6.46
$4.19
$4.19
$4.19
$4.19
$4.19
$1.65
$11.11
$2.31
$4.83
Number of Apps.
1
1
1
1
1
1
1
1
1
1
1
$40.27
$14.07
$15.00
$0.00
Total ($/Acre)
$0.00
$11.20
$18.33
Repairs & Maintenance
$3.71
$0.24
$0.24
$0.24
$0.24
$0.24
$2.03
$9.80
$1.06
$0.52
Quantity
1
8
2
40
2
3
12
1
1
1
1
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$8.02
Fuel, Oil & Filter
$1.00
$0.19
$0.19
$0.19
$0.19
$0.19
$1.06
$3.23
$0.65
$1.16
Price
$5.10
$0.72
$5.60
$0.25
$9.45
$4.25
$1.55
$5.10
$7.00
$8.50
$17.40
$5.10
Labor
$0.79
$0.16
$0.16
$0.16
$0.16
$0.16
$0.84
$1.23
$0.52
$0.93
Total ($/Acre)
$5.10
$5.76
$11.20
$10.00
$18.90
$12.75
$18.60
$5.10
$7.00
$8.50
$17.40
$120.31
$78.79
Total
$11.96
$4.78
$4.78
$4.78
$4.78
$4.78
$5.58
$25.37
$4.53
$7.44
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on
December 31, 2015, adjusted by monthly basis.
2) Assumes a normal crop rotation with minimum weed infestation. A continuous soybean system may require
additional expenses for chemicals and/or land preparation.
3) Seed price includes technology fee.
4) Assumes 2 tons of lime applied every four years.
5) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used.
6) Weed control chemicals should be selected for specific weed or grass problems that are present. Check with farm
suppliers for rebates and incentives based on seed variety and herbicides applied.
7) The addition of Dicamba @ 8oz./acre is necessary to manage Glyphosate resistant horseweed. This adds an
additional $5.50/acre to the burndown spray cost.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) For an alternate control, use Gramoxone SL @1.25 quarts/acre plus a surfactant.
10) Several other versions of Glyphosate, the active ingredient in Roundup Power Max, are available. Check label
for concentration rates and registration on Roundup Ready Soybeans.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs
for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the
Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics
webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the
average premium paid per insured acre of soybeans in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
2016 Soybean, No-Till, Irrigated Budget
Unit
Revenue
Soybeans
Variable Expenses
Seed 3
1
Bu
Price
Total
Gross Revenue ($/Acre)
60
$8.99
$539.40
Total Revenue $539.40
Your Farm
_________
_________
2
Thous.
4
Fertilizer & Lime (Table 1.)
5,6,7,8,9,10
Chemical (Table 2.)
Crop Scout
Repair & Maintenance (Table 3.) 11
Fuel, Oil & Filter (Table 3.) 11
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Irrigation Energy Cost (Diesel)
Irrigation System R&M
Other Irrigation Costs
12
Cash Rent
13
Crop Insurance
14
Operating Interest
Other Variable Costs
Fixed Expenses
11
Machinery
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Capital Recovery (Irrigation Equipment)15
Other Irrigation Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor 16
Other Fixed Costs
Yield
(bu)
40
45
50
55
60
65
70
75
80
Quantity
140
$0.36
$50.00
_________
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Ac-In
Acre
Acre
Acre
Acre
%
Acre
1
$40.27
$40.27
1
$120.31 $120.31
1
$6.00
$6.00
1
$18.33
$18.33
1
$8.02
$8.02
1
$5.10
$5.10
0
$0.00
$0.00
0
$0.00
$0.00
60
$0.00
$0.00
7.2
$2.90
$20.88
1
$10.88
$10.88
1
$0.00
$0.00
1
$165.00 $165.00
1
$8.97
$8.97
$453.76
6.00%
$13.61
1
$0.00
$0.00
Total Variable Expenses $467.38
Return Above Variable Expenses $72.02
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
1
$47.33
$47.33
1
$0.00
$0.00
1
$87.81
$87.81
1
$0.00
$0.00
1
$0.00
$0.00
1
$0.00
$0.00
2
$15.00
$30.00
1
$0.00
$0.00
Total Fixed Expenses $165.14
Return Above All Specified Expenses -$93.12
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$11.68
$15.81
$10.39
$14.06
$9.35
$12.65
$8.50
$11.50
$7.79
$10.54
$7.19
$9.73
$6.68
$9.04
$6.23
$8.43
$5.84
$7.91
Price
($/bu)
$6.99
$7.49
$7.99
$8.49
$8.99
$9.49
$9.99
$10.49
$10.99
15
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
67
90
62
84
58
79
55
75
52
70
49
67
47
63
45
60
43
58
16
Limestone
Seed Treatment
800 bu
Size
16-row
90'
90'
90'
90'
90'
900#
30 ft
Unit
qt.
oz.
oz.
oz.
pt.
pt.
oz.
qt.
acre
acre
acre
$0.35
$30.00
$0.00
40
1,000
0
Description
Roundup Power Max
Clarity 4EC
Valor
Gramoxone SL
Boundary
Flexstar GT
Cobra
Roundup Power Max
Price ($)
$0.43
$0.56
Quantity (lbs)
0
20
Table 3. Machinery 11
Power Unit
Implement
Plant
Tractor, 215 hp
Planter
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Fertilize
Tractor, 215 hp
Fertilize Spreader
Harvest
Combine
Grain Head
Haul
Tractor, 215 hp
Grain Cart
Haul
Semi Tractor/Trailer
Total
Insecticides
Insecticide/Fungicides
Fungicides
Total
Post-Emerge
Post-Emerge
Pre-Emerge
Table 2. Chemicals 5,6,7,8,9,10
Chemical
Function
Herbicides
Burndown
Total
Lime 4
Other
Table 1. Fertilizer & Lime 4
Fertilizer
Description
Nitrogen
Urea
P2O5
Phosphorous
K2 0
Potassium
Capital Recovery
$6.46
$4.19
$4.19
$4.19
$4.19
$4.19
$1.65
$11.11
$2.31
$4.83
$47.33
Number of Apps.
1
1
1
1
1
1
1
1
1
1
1
$40.27
$14.07
$15.00
$0.00
Total ($/Acre)
$0.00
$11.20
Repairs & Maintenance
$3.71
$0.24
$0.24
$0.24
$0.24
$0.24
$2.03
$9.80
$1.06
$0.52
$18.33
Quantity
1
8
2
40
2
3
12
1
1
1
1
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
Fuel, Oil & Filter
$1.00
$0.19
$0.19
$0.19
$0.19
$0.19
$1.06
$3.23
$0.65
$1.16
$8.02
Price
$5.10
$0.72
$5.60
$0.25
$9.45
$4.25
$1.55
$5.10
$7.00
$8.50
$17.40
Labor
$0.79
$0.16
$0.16
$0.16
$0.16
$0.16
$0.84
$1.23
$0.52
$0.93
$5.10
Total ($/Acre)
$5.10
$5.76
$11.20
$10.00
$18.90
$12.75
$18.60
$5.10
$7.00
$8.50
$17.40
$120.31
Total
$11.96
$4.78
$4.78
$4.78
$4.78
$4.78
$5.58
$25.37
$4.53
$7.44
$78.79
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on December
31, 2015, adjusted by monthly basis.
2) Assumes a normal crop rotation with minimum weed infestation. A continuous soybean system may require
additional expenses for chemicals and/or land preparation.
3) Seed price includes technology fee.
4) Assumes 2 tons of lime applied every four years.
5) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used.
6) Weed control chemicals should be selected for specific weed or grass problems that are present. Check with farm
suppliers for rebates and incentives based on seed variety and herbicides applied.
7) The addition of Dicamba @ 8oz./acre is necessary to manage Glyphosate resistant horseweed. This adds an additional
$5.50/acre to the burndown spray cost.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) For an alternate control, use Gramoxone SL @1.25 quarts/acre plus a surfactant.
10) Several other versions of Glyphosate, the active ingredient in Roundup Power Max, are available. Check label for
concentration rates and registration on Roundup Ready Soybeans.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the
average premium paid per insured acre of soybeans in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
15) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful
life of 20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farmspecific applications.
16) Management labor for irrigated acreage is assumed to be double that of dryland acres.
17
2016 Wheat/Soybean Double Cropped, Non-Irrigated Budget
Unit
Revenue
Soybeans 1
Wheat
Bu
2
Variable Expenses
Bu
Quantity
Price
Total
Gross Revenue ($/Acre)
35
$8.99 $314.65
Your Farm
_________
60
$4.70 $282.00
Total Revenue $596.65
_________
_________
3
Seed, Soybeans 4
Seed, Wheat 4
Fertilizer & Lime (Table 1.)
Thous.
140
$0.36
Bu
2
$18.50
Acre
1
$115.30
Acre
1
$112.74
Acre
1
$6.00
Acre
1
$45.18
Acre
1
$19.33
Acre
1
$12.78
Acre
0
$0.00
Acre
0
$0.00
Bu
35
$0.00
Acre
1
$98.00
Acre
1
$16.32
%
$512.65
6.00%
Acre
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
5,6,7,8,9,10
Chemical (Table 2.)
Crop Scout
Repair & Maintenance (Table 3.) 11
11
Fuel, Oil & Filter (Table 3.)
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Drying (Fuel/Electric)
12
Cash Rent
Crop Insurance 13
Operating Interest 14
Other Variable Costs
$50.00
$37.00
$115.30
$112.74
$6.00
$45.18
$19.33
$12.78
$0.00
$0.00
$0.00
$98.00
$16.32
$15.38
$0.00
$528.03
$68.62
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
$83.58
$0.00
$0.00
$0.00
$15.00
$0.00
$98.58
-$29.96
_________
_________
_________
_________
_________
_________
_________
_________
_________
Fixed Expenses
11
Machinery
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Acre
Acre
Acre
Acre
Acre
Acre
1
$83.58
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Soybean Yield 15
Yield
Variable Cost
Total Specified Cost
(bu)
($/bu)
($/bu)
15
$17.60
$20.89
20
$13.20
$15.67
25
$10.56
$12.53
30
$8.80
$10.44
35
$7.54
$8.95
40
$6.60
$7.83
45
$5.87
$6.96
50
$5.28
$6.27
55
$4.80
$5.70
Breakeven Yield for Selected Soybean Price 15
Total Specified Cost
Price
Variable Cost (bu)
(bu)
($/bu)
38
45
$6.99
35
42
$7.49
33
39
$7.99
31
37
$8.49
29
35
$8.99
28
33
$9.49
26
31
$9.99
25
30
$10.49
24
29
$10.99
Breakeven Price For Selected Wheat Yield 15
Yield
Variable Cost
Total Specified Cost
(bu)
($/bu)
($/bu)
40
$6.60
$7.83
45
$5.87
$6.96
50
$5.28
$6.27
55
$4.80
$5.70
60
$4.40
$5.22
65
$4.06
$4.82
70
$3.77
$4.48
75
$3.52
$4.18
80
$3.30
$3.92
Breakeven Yield for Selected Wheat Price 15
Total Specified Cost
Price
Variable Cost (bu)
(bu)
($/bu)
98
116
$2.70
83
98
$3.20
71
85
$3.70
63
75
$4.20
56
67
$4.70
51
60
$5.20
46
55
$5.70
43
51
$6.20
39
47
$6.70
18
19
Semi Tractor/Trailer
Tractor, 215 hp
SP Boom Sprayer
SP Boom Sprayer
SP Boom Sprayer
Combine
Tractor, 215 hp
Semi Tractor/Trailer
Haul
Plant
Weed Control
Weed Control
Weed Control
Harvest
Haul
Haul
Total
Total
11
Table 3. Machinery
Power Unit
Chisel
Tractor, 215 hp
Disk
Tractor, 215 hp
Prepare Seedbed Tractor, 215 hp
Plant
Tractor, 215 hp
Topdress
Tractor, 215 hp
Fungicide
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Insect Control
SP Boom Sprayer
Harvest
Combine
Haul
Tractor, 215 hp
Fungicides
Insecticides
HerbicidesWheat
Table 2. Chemicals
Chemical
Function
HerbicidesBurndown
Soybeans
Post-Emerge
5,6,7,8,9,10
K20
Limestone
Potassium
Lime
Other
Total
Description
Ammonium Nitrate
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
Grain Head
Grain Cart
Planter
Grain Head
Grain Cart
Implement
Chisel Plow
Tandem Disk
Cultimulcher
Grain Drill
Fertilize Spreader
Description
Gramoxone SL
Metribuzin
Roundup Power Max
Flexstar GT
Harmony Extra
Axial XL
Surfactant
Wheat-seed treatment
Wheat-Foliar
Soybeans
Soybeans
Soybeans-seed treatment
Wheat-foliar
60
1,000
0
Quantity (lbs)
80
60
800 bu
16-row
90'
90'
90'
30 ft
800 bu
Size
21'
29'
20'
20 ft
900#
90'
90'
90'
30 ft
Unit
oz.
oz.
qt.
pt.
oz.
oz.
pt.
acre
acre
acre
acre
acre
acre
$0.35
$30.00
$0.00
Price ($)
$0.57
$0.56
$6.46
$4.19
$4.19
$4.19
$11.11
$2.31
$4.83
$83.58
$4.83
Capital Recovery
$1.90
$4.48
$2.73
$4.69
$1.65
$4.19
$4.19
$4.19
$11.11
$2.31
Number of Apps.
1
1
1
1
1
1
1
1
1
1
1
1
1
$115.30
$21.10
$15.00
$0.00
Total ($/Acre)
$45.60
$33.60
$3.71
$0.24
$0.24
$0.24
$9.80
$1.06
$0.52
$45.18
$0.52
Repairs & Maintenance
$2.38
$2.59
$3.00
$7.26
$2.03
$0.24
$0.24
$0.24
$9.80
$1.06
Quantity
40
4
1
3
0.5
16.4
0.1
1
1
1
1
1
1
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$1.00
$0.19
$0.19
$0.19
$3.23
$0.65
$1.16
$19.33
$1.16
Fuel, Oil & Filter
$1.45
$1.17
$1.62
$1.85
$1.06
$0.19
$0.19
$0.19
$3.23
$0.65
Price
$0.25
$0.86
$5.10
$4.25
$8.00
$1.07
$3.52
$11.00
$3.00
$7.00
$17.40
$3.75
$17.40
$0.79
$0.16
$0.16
$0.16
$1.23
$0.52
$0.93
$12.78
$0.93
Labor
$1.16
$0.93
$1.29
$1.47
$0.84
$0.16
$0.16
$0.16
$1.23
$0.52
Total ($/Acre)
$10.00
$3.44
$5.10
$12.75
$4.00
$17.55
$0.35
$11.00
$3.00
$7.00
$17.40
$3.75
$17.40
$112.74
$11.96
$4.78
$4.78
$4.78
$25.37
$4.53
$7.44
$160.87
$7.44
Total
$6.88
$9.17
$8.64
$15.27
$5.58
$4.78
$4.78
$4.78
$25.37
$4.53
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on December
31, 2015, adjusted by monthly basis.
2) Wheat price was estimated using weighted average futures prices from July 2016 to May 2017 on December 31,
2015, adjusted by monthly basis.
3) Spraying for stinkbugs may add $2.50/acre per spraying, plus application expenses.
4) Seed price includes technology fee.
5) Additional seed treatment is to protect against Barley Yellow Dwarf Virus.
6) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used.
Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.
7) Several other versions of Glyphosate, the active ingredient in Roundup Original Max, are available. Check label for
concentration rates and registration on Roundup Ready Soybeans.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) Cost may vary depending on fungicide used and application rate per acre.
10) If using Liberty Link soybeans, replace Flexstar GT with Liberty herbicide.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the
average premium paid per insured acre of soybeans and wheat in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
15) Estimated breakeven yields and prices assume that half of variable and total specified costs are incurred for each
commodity. When estimating soybean breakeven, wheat yield/price are held constant at 60 bu/acre and $4.70/bu.
When estimating wheat breakeven, soybean yield and price are held constant at 35 bu/acre and $8.99/bu.
2016 Wheat, Conventional Tillage, Non-Irrigated Budget
Unit
Revenue
Wheat1
Bu
Variable Expenses
Seed 2
Fertilizer & Lime (Table 1.)
Chemical (Table 2.) 2,3
Crop Scout
Repair & Maintenance (Table 3.) 4
Fuel, Oil & Filter (Table 3.) 4
Operator Labor (Table 3.) 4
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Fixed Expenses
Machinery 4
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Yield
(bu)
40
45
50
55
60
65
70
75
80
Quantity
Price
Total
Gross Revenue ($/Acre)
60
$4.70
$282.00
Total Revenue $282.00
2
$18.50
$37.00
1
$83.63
$83.63
1
$78.80
$78.80
1
$6.00
$6.00
1
$28.82
$28.82
1
$12.53
$12.53
1
$8.68
$8.68
0
$0.00
$0.00
0
$0.00
$0.00
60
$0.00
$0.00
1
$98.00
$98.00
1
$7.35
$7.35
$360.82
6.00%
$10.82
1
$0.00
$0.00
Total Variable Expenses $371.64
Return Above Variable Expenses -$89.64
Your Farm
_________
_________
Bu
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
_________
_________
_________
_________
_________
_________
_________
_________
1
$50.17
$50.17
1
$0.00
$0.00
1
$0.00
$0.00
1
$0.00
$0.00
1
$15.00
$15.00
1
$0.00
$0.00
Total Fixed Expenses $65.17
Return Above All Specified Expenses -$154.82
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$9.29
$10.92
$8.26
$9.71
$7.43
$8.74
$6.76
$7.94
$6.19
$7.28
$5.72
$6.72
$5.31
$6.24
$4.96
$5.82
$4.65
$5.46
Price
($/bu)
$3.70
$3.95
$4.20
$4.45
$4.70
$4.95
$5.20
$5.45
$5.70
21
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
100
118
94
111
88
104
84
98
79
93
75
88
71
84
68
80
65
77
22
K20
Limestone
Description
Ammonium Nitrate
P2O5
Grain Cart
Tractor, 215 hp
Semi Tractor/Trailer
Haul
Haul
Total
Fertilize Spreader
Chisel Plow
Tandem Disk
Do-All
Grain Drill
800 bu
Size
90'
21'
29'
26.5'
20 ft
90'
90'
90'
900#
90'
30 ft
acre
acre
acre
Foliar
Seed Treatment
Foliar
Implement
acre
Unit
oz.
qt.
oz.
oz.
pt.
Price ($)
$0.57
$0.40
$0.35
$30.000
$0.00
Seed Treatment
Grain Head
Description
Gramoxone SL
Roundup Power Max
Harmony Extra
Axial XL
Surfactant
Quantity (lbs)
80
40
20
1,000
0
Insecticides
Insecticides
Fungicides
Fungicides
Total
Table 3. Machinery 4
Power Unit
Burndown
SP Boom Sprayer
Chisel
Tractor, 215 hp
Disk
Tractor, 215 hp
Prepare Seedbed Tractor, 215 hp
Plant
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Insecticides
SP Boom Sprayer
Fertilize
Tractor, 215 hp
Insect Control
SP Boom Sprayer
Harvest
Combine
Table 2. Chemicals2,3
Chemical
Function
Herbicides
Burndown
Pre-Emerge
Post-Emerge
Fertilizer
Nitrogen
Phosphorous
Potassium
Lime
Other
Total
Table 1. Fertilizer & Lime
$4.83
$50.17
$2.31
Capital Recovery
$6.46
$1.90
$4.48
$2.43
$4.69
$4.19
$4.19
$4.19
$1.65
$4.19
$11.11
1
1
1
1
Number of Apps.
1
1
1
1
1
Total ($/Acre)
$45.60
$16.00
$7.03
$15.00
$0.00
$83.63
$0.52
$28.82
$1.06
Repairs & Maintenance
$3.71
$2.38
$2.59
$2.21
$7.26
$0.24
$0.24
$0.24
$2.03
$0.24
$9.80
1
1
1
1
Quantity
48
1
0.5
16.4
0.1
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
$1.16
$12.53
$0.65
Fuel, Oil & Filter
$1.00
$1.45
$1.17
$1.22
$1.85
$0.19
$0.19
$0.19
$1.06
$0.19
$3.23
$3.00
$8.40
$17.40
$11.00
Price
$0.25
$5.10
$8.00
$1.07
$3.52
$0.93
$8.68
$0.52
Labor
$0.79
$1.16
$0.93
$0.97
$1.47
$0.16
$0.16
$0.16
$0.84
$0.16
$1.23
Total ($/Acre)
$12.00
$5.10
$4.00
$17.55
$0.35
$0.00
$11.00
$3.00
$8.40
$17.40
$78.80
$7.44
$100.21
$4.53
Total
$11.96
$6.88
$9.17
$6.84
$15.27
$4.78
$4.78
$4.78
$5.58
$4.78
$25.37
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Wheat price was estimated using weighted average futures prices from July 2016 to May 2017 on December 31, 2015,
adjusted by monthly basis. If a market for straw is available, add an appropriate amount to return to land, management,
and risk, based on the expected yield and price of the straw, less harvest and marketing costs.
2) Additional seed treatment is to protect against Barley Yellow Dwarf virus.
3) Cost may vary depending on fungicide used and application rate per acre.
4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of wheat in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
23
2016 Cotton, No-Till, Non-Irrigated Budget
Unit
Revenue
Cotton1,2,3
lb
Quantity
Price
Total
Gross Revenue ($/Acre)
875
$0.70
$612.50
Total Revenue $612.50
Your Farm
_________
_________
Variable Expenses
Seed4
Tech Fee5
Fertilizer & Lime (Table 1.)
48.15
$2.02
$97.38
0
$1.22
$0.00
1
$110.97 $110.97
1
$144.42 $144.42
1
$9.50
$9.50
1
$23.87
$23.87
1
$11.96
$11.96
1
$6.88
$6.88
1
$0.00
$0.00
1
$0.00
$0.00
1
$0.00
$0.00
1
$98.00
$98.00
1
$7.02
$7.02
$510.01
6.00%
$15.30
1
$0.00
$0.00
Total Variable Expenses $525.31
Return Above Variable Expenses $87.19
Chemical (Table 2.) 6,7,8,9,10
Crop Scout
Repair & Maintenance (Table 3.) 11
Fuel, Oil & Filter (Table 3.) 11
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Other Transportation Costs
Cash Rent 12
Crop Insurance 13
Operating Interest 14
Other Variable Costs
Fixed Expenses
Machinery 11
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Thous.
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
%
Acre
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
_________
_________
_________
_________
_________
_________
_________
_________
1
$111.29 $111.29
1
$0.00
$0.00
1
$0.00
$0.00
1
$0.00
$0.00
1
$15.00
$15.00
1
$0.00
$0.00
Total Fixed Expenses $126.29
Return Above All Specified Expenses -$39.09
Breakeven Price For Selected Yield
Total Specified Cost
Yield (lb) Variable Cost ($/lb)
($/lb)
625
$0.84
$1.04
675
$0.78
$0.97
725
$0.72
$0.90
775
$0.68
$0.84
825
$0.64
$0.79
875
$0.60
$0.74
925
$0.57
$0.70
975
$0.54
$0.67
1,025
$0.51
$0.64
1,075
$0.49
$0.61
1,125
$0.47
$0.58
Breakeven Yield for Selected Price
Total Specified Cost
Price ($/lb) Variable Cost (lb)
(lb)
1,167
1,448
$0.45
1,051
1,303
$0.50
955
1,185
$0.55
876
1,086
$0.60
808
1,002
$0.65
750
931
$0.70
700
869
$0.75
657
814
$0.80
618
767
$0.85
584
724
$0.90
553
686
$0.95
24
25
Limestone
Elemental
Ethephon
Seed Treatment
In-Season
Seed Treatment
Mepex (Mepiquat Chloride)
Description
Roundup Power Max
Clarity 4EC
Cotoran 4L
Roundup Power Max
Dual Magnum
Liberty 280 SL
Surfactant
Valor
90
10
0.5
1,000
0
Quantity (lbs)
80
60
SP Boom Sprayer
Tractor, 215 hp
Hooded Sprayer
Tractor, 215 hp
Fertilize Spreader
SP Boom Sprayer
SP Boom Sprayer
SP Boom Sprayer
Picker/Module Builder (Round)
Tractor, 215 hp
Module Handler
Weed Control
Weed Control
Fertilize
Weed Control
Weed Control
Weed Control
Harvest
Harvest
Other
Other
Total
Fungicides
Total
Table 3. Machinery 11
Power Unit
Implement
Chop Stalks
Tractor, 215 hp
Rotary Mower
Weed Control
SP Boom Sprayer
Plant
Tractor, 215 hp
Planter
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Growth Regulator
Defoliant
Boll Opener
Insecticides
Hooded Sprayer
Table 2. Chemicals6,7,8,9,10
Chemical
Function
Herbicides
Burndown
Burndown
Pre-Emerge
Over The Top
Over The Top
Sulfur
Boron
Lime
Other
Total
K2 0
Potassium
15
Description
Urea
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
900#
90'
90'
90'
6-row
$7.55
$1.65
$4.19
$4.19
$4.19
$60.51
$1.46
$0.00
$0.00
$111.29
$4.19
Capital Recovery
$3.50
$4.19
$7.25
$4.19
$4.19
Size
15'
90'
12-row
90'
90'
90'
1
1
1
1
1
1
Number of Apps.
1
1
1
1
1
2
1
1
$31.65
$3.30
$2.50
$15.00
$0.00
$110.97
Total ($/Acre)
$34.52
$24.00
pt.
oz.
oz.
acre
acre
acre
Unit
qt.
oz.
pt.
qt.
pt.
oz.
pt.
oz.
$0.35
$0.33
$5.00
$30.00
$0.00
Price ($)
$0.43
$0.40
$1.07
$2.03
$0.24
$0.24
$0.24
$11.45
$0.17
$0.00
$0.00
$23.87
$0.24
Repairs & Maintenance
$3.68
$0.24
$3.76
$0.24
$0.24
2
12
32
1
1
1
Quantity
1
8
2
1
1
29
0.2
1
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$0.37
$1.06
$0.19
$0.19
$0.19
$5.38
$0.98
$0.00
$0.00
$11.96
$0.19
Fuel, Oil & Filter
$1.54
$0.19
$1.33
$0.19
$0.19
$1.00
$0.48
$0.17
$9.00
$35.00
$7.50
Price
$5.10
$0.72
$5.75
$5.10
$10.00
$0.62
$3.52
$5.60
$0.29
$0.84
$0.16
$0.16
$0.16
$1.56
$0.78
$0.00
$0.00
$6.88
$0.16
Labor
$1.23
$0.16
$1.06
$0.16
$0.16
Total ($/Acre)
$5.10
$5.76
$11.50
$5.10
$10.00
$35.96
$0.70
$5.60
$0.00
$2.00
$5.76
$5.44
$9.00
$35.00
$7.50
$144.42
$9.29
$5.58
$4.78
$4.78
$4.78
$78.90
$3.39
$0.00
$0.00
$153.99
$4.78
Total
$9.95
$4.78
$13.40
$4.78
$4.78
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.
2) A second harvest may add as much as $25/acre to variable costs.
3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.
4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set at
time of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety and
herbicides applied.
5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.
6) Additional sprays may be necessary for specific insects.
7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs, bollworm,
and other insect pests.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) Do not tank mix dual magnum and liberty when applying on widestrike cotton.
10) Use alternative chemicals on non-liberty tolerant cotton varieties.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of cotton in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
15) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur is
commonly applied at a rate of 10-15 lbs/acre.
2016 Cotton, Conventional Tillage, Non-Irrigated Budget
Revenue
Unit
Cotton1,2,3
lb
Quantity
Price
Total
Gross Revenue ($/Acre)
850
$0.70 $595.00
Total Revenue $595.00
Your Farm
_________
_________
Variable Expenses
Seed4
5
Tech Fee
Fertilizer & Lime (Table 1.)
48.15
$2.02
0
$1.22
1
$110.97
1
$133.56
1
$9.50
1
$34.43
1
$17.37
1
$11.18
1
$0.00
1
$0.00
1
$0.00
1
$98.00
1
$7.02
$519.42
6.00%
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
Chemical (Table 2.) 6,7,8,9,10
Crop Scout
Repair & Maintenance (Table 3.) 11
Fuel, Oil & Filter (Table 3.) 11
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Other Transportation Costs
Cash Rent 12
Crop Insurance 13
14
Operating Interest
Other Variable Costs
Fixed Expenses
11
Machinery
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Thous.
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
%
Acre
$97.38
$0.00
$110.97
$133.56
$9.50
$34.43
$17.37
$11.18
$0.00
$0.00
$0.00
$98.00
$7.02
$15.58
$0.00
$535.01
$59.99
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
$124.88
$0.00
$0.00
$0.00
$15.00
$0.00
$139.88
-$79.88
_________
_________
_________
_________
_________
_________
_________
_________
1
$124.88
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Yield
Yield (lb) Variable Cost ($/lb)
600
650
700
750
800
850
900
950
1,000
1,050
1,100
$0.89
$0.82
$0.76
$0.71
$0.67
$0.63
$0.59
$0.56
$0.54
$0.51
$0.49
Breakeven Yield for Selected Price
Total Specified Cost
($/lb)
$1.12
$1.04
$0.96
$0.90
$0.84
$0.79
$0.75
$0.71
$0.67
$0.64
$0.61
27
Price ($/lb)
Variable Cost (lb)
$0.45
$0.50
$0.55
$0.60
$0.65
$0.70
$0.75
$0.80
$0.85
$0.90
$0.95
1,189
1,070
973
892
823
764
713
669
629
594
563
Total Specified Cost
(lb)
1,500
1,350
1,227
1,125
1,038
964
900
844
794
750
710
28
6,7,8,9,10
Limestone
90'
90'
90'
Planter
Tractor, 215 hp
SP Boom Sprayer
Weed Control
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
Tractor, 215 hp
Hooded Sprayer
Weed Control
SP Boom Sprayer
Apply Mepex
SP Boom Sprayer
Apply Mepex
SP Boom Sprayer
Defoliant/Boll Ope SP Boom Sprayer
Harvest
Picker/Module Builder (Round)
Harvest
Tractor, 215 hp
Module Handler
Other
Other
Total
90'
90'
90'
90'
6-row
12-row
Size
15'
21'
29'
29'
20'
900#
Plant
pt.
oz.
oz.
acre
acre
acre
Unit
pt.
qt.
pt.
oz.
pt.
oz.
$0.35
$0.33
$5.00
$30.00
$0.00
Price ($)
$0.43
$0.40
Implement
Rotary Mower
Chisel Plow
Tandem Disk
Tandem Disk
Cultimulcher
Fertilize Spreader
Ethephon
Seed Treatment
In-Season
Seed Treatment
Mepex (Mepiquat Chloride)
Description
Cotoran 4L
Roundup Power Max
Dual Magnum
Liberty 280 SL
Surfactant
Valor
90
10
0.5
1,000
0
Quantity (lbs)
80
60
Fungicides
Total
11
Table 3. Machinery
Power Unit
Chop Stalks
Tractor, 215 hp
Chisel
Tractor, 215 hp
Disk
Tractor, 215 hp
Disk
Tractor, 215 hp
Prepare Seedbed Tractor, 215 hp
Fertilize
Tractor, 215 hp
Growth Regulator
Defoliant
Boll Opener
Insecticides
Hooded Sprayer
Table 2. Chemicals
Chemical
Function
Herbicides
Pre-Emerge
Over The Top
Over The Top
Sulfur
Boron
Lime
Other
Total
Elemental
K20
Potassium
15
Description
Urea
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
$4.19
$4.19
$7.55
$4.19
$4.19
$4.19
$4.19
$60.51
$1.46
$0.00
$0.00
$124.88
$4.19
$7.25
Capital Recovery
$3.50
$1.90
$4.48
$4.48
$2.73
$1.65
1
1
1
1
1
1
Number of Apps.
1
1
1
2
1
1
$31.65
$3.30
$2.50
$15.00
$0.00
$110.97
Total ($/Acre)
$34.52
$24.00
$0.24
$0.24
$1.07
$0.24
$0.24
$0.24
$0.24
$11.45
$0.17
$0.00
$0.00
$34.43
$0.24
$3.76
Repairs & Maintenance
$3.68
$2.38
$2.59
$2.59
$3.00
$2.03
2
12
32
1
1
1
Quantity
2
1
1
29
0.2
1
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$0.19
$0.19
$0.37
$0.19
$0.19
$0.19
$0.19
$5.38
$0.98
$0.00
$0.00
$17.37
$0.19
$1.33
Fuel, Oil & Filter
$1.54
$1.45
$1.17
$1.17
$1.62
$1.06
$1.00
$0.48
$0.17
$9.00
$35.00
$7.50
Price
$5.75
$5.10
$10.00
$0.62
$3.52
$5.60
$0.16
$0.16
$0.29
$0.16
$0.16
$0.16
$0.16
$1.56
$0.78
$0.00
$0.00
$11.18
$0.16
$1.06
Labor
$1.23
$1.16
$0.93
$0.93
$1.29
$0.84
Total ($/Acre)
$11.50
$5.10
$10.00
$35.96
$0.70
$5.60
$0.00
$2.00
$5.76
$5.44
$9.00
$35.00
$7.50
$133.56
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
$4.78
$4.78
$9.29
$4.78
$4.78
$4.78
$4.78
$78.90
$3.39
$0.00
$0.00
$187.86
$4.78
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
$13.40 _________
Total
$9.95
$6.88
$9.17
$9.17
$8.64
$5.58
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
FOOTNOTES
1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.
2) A second harvest may add as much as $25/acre to variable costs.
3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.
4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set
at time of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety and
herbicides applied.
5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.
6) Additional sprays may be necessary for specific insects.
7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs,
bollworm, and other insect pests.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) Do not tank mix dual magnum and liberty when applying on widestrike cotton.
10) Use alternative chemicals on non-liberty tolerant cotton varieties.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the
average premium paid per insured acre of cotton in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
15) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur is
commonly applied at a rate of 10-15 lbs/acre.
29
2016 Cotton, No-Till, Irrigated Budget
Unit
Revenue
Cotton1,2,3
Quantity
Price
Total
Gross Revenue ($/Acre)
1,100
$0.70
$770.00
Total Revenue $770.00
lb
Your Farm
_________
_________
Variable Expenses
Seed4
Tech Fee5
Fertilizer & Lime (Table 1.)
$97.38
$0.00
$115.29
$144.42
$9.50
$26.48
$13.14
$7.81
$0.00
$0.00
$20.88
$10.88
$0.00
$165.00
$7.02
$18.53
$0.00
$636.33
$133.67
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
1
$107.24 $107.24
1
$0.00
$0.00
15
1
$87.81
$87.81
Capital Recovery (Irrigation Equipment)
Other Irrigation Costs
1
$0.00
$0.00
Property Taxes
1
$0.00
$0.00
Insurance (Non-Machinery)
1
$0.00
$0.00
16
2
$15.00
$30.00
Management Labor
Other Fixed Costs
1
$0.00
$0.00
Total Fixed Expenses $225.05
Return Above All Specified Expenses -$91.38
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Chemical (Table 2.) 6,7,8,9,10
Crop Scout
Repair & Maintenance (Table 3.) 11
Fuel, Oil & Filter (Table 3.) 11
Operator Labor (Table 3.) 11
Machinery Rental
Custom Work
Irrigation Energy Cost
Irrigation System R&M
Other Irrigation Costs
Cash Rent 12
Crop Insurance 13
Operating Interest 14
Other Variable Costs
Fixed Expenses
Machinery 11
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Thous.
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Ac-In
Acre
Acre
Acre
Acre
%
Acre
48.15
$2.02
0
$1.22
1
$115.29
1
$144.42
1
$9.50
1
$26.48
1
$13.14
1
$7.81
1
$0.00
1
$0.00
7.2
$2.90
1
$10.88
1
$0.00
1
$165.00
1
$7.02
$617.80
6.00%
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Breakeven Price For Selected Yield
Yield (lb) Variable Cost ($/lb)
850
900
950
1,000
1,050
1,100
1,150
1,200
1,250
1,300
1,350
$0.75
$0.71
$0.67
$0.64
$0.61
$0.58
$0.55
$0.53
$0.51
$0.49
$0.47
Breakeven Yield for Selected Price
Total Specified Cost
($/lb)
$1.01
$0.96
$0.91
$0.86
$0.82
$0.78
$0.75
$0.72
$0.69
$0.66
$0.64
Price ($/lb) Variable Cost (lb)
$0.45
$0.50
$0.55
$0.60
$0.65
$0.70
$0.75
$0.80
$0.85
$0.90
$0.95
30
1,414
1,273
1,157
1,061
979
909
848
795
749
707
670
Total Specified Cost
(lb)
1,914
1,723
1,566
1,436
1,325
1,231
1,149
1,077
1,013
957
907
31
SP Boom Sprayer
SP Boom Sprayer
SP Boom Sprayer
Picker/Module Builder (Round)
Tractor, 215 hp
Module Handler
Weed Control
Weed Control
Harvest
Harvest
Other
Other
Total
Hooded Sprayer
Fertilize Spreader
Planter
Implement
Rotary Mower
Ethephon
Seed Treatment
In-Season
Seed Treatment
Mepex (Mepiquat Chloride)
Description
Roundup Power Max
Clarity EC
Cotoran 4L
Roundup Power Max
Dual Magnum
Liberty 280 SL
Surfactant
Valor
90
10
0.5
1,000
0
Quantity (lbs)
90
60
Weed Control
Fungicides
Total
Table 3. Machinery 11
Power Unit
Chop Stalks
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Plant
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
Tractor, 215 hp
Fertilize
Tractor, 215 hp
Growth Regulator
Defoliant
Boll Opener
Insecticides
Hooded Sprayer
Table 2. Chemicals6,7,8,9,10
Chemical
Function
Herbicides
Burndown
Burndown
Pre-Emerge
Over The Top
Over The Top
Limestone
Elemental
K20
17
Potassium
Sulfur
Boron
Lime
Other
Total
Description
Urea
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
90'
6-row
90'
90'
900#
Size
15'
90'
12-row
90'
90'
90'
pt.
oz.
oz.
acre
acre
acre
Unit
qt.
oz.
pt.
qt.
pt.
oz.
pt.
oz.
$0.35
$0.33
$5.00
$30.00
$0.00
Price ($)
$0.43
$0.40
$4.19
$60.51
$1.46
$0.00
$0.00
$107.24
$4.19
$4.19
Capital Recovery
$3.50
$4.19
$7.25
$4.19
$4.19
$4.19
$3.50
$1.65
1
1
1
1
1
1
Number of Apps.
1
1
1
1
1
2
1
1
$31.65
$3.30
$2.50
$15.00
$0.00
$115.29
Total ($/Acre)
$38.84
$24.00
$0.24
$11.45
$0.17
$0.00
$0.00
$26.48
$0.24
$0.24
Repairs & Maintenance
$3.68
$0.24
$3.76
$0.24
$0.24
$0.24
$3.68
$2.03
2
12
32
1
1
1
Quantity
1
8
2
1
1
29
0.2
1
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$0.19
$5.38
$0.98
$0.00
$0.00
$13.14
$0.19
$0.19
Fuel, Oil & Filter
$1.54
$0.19
$1.33
$0.19
$0.19
$0.19
$1.54
$1.06
$1.00
$0.48
$0.17
$9.00
$35.00
$7.50
Price
$5.10
$0.72
$5.75
$5.10
$10.00
$0.62
$3.52
$5.60
$0.16
$1.56
$0.78
$0.00
$0.00
$7.81
$0.16
$0.16
Labor
$1.23
$0.16
$1.06
$0.16
$0.16
$0.16
$1.23
$0.84
Total ($/Acre)
$5.10
$5.76
$11.50
$5.10
$10.00
$35.96
$0.70
$5.60
$0.00
$2.00
$5.76
$5.44
$9.00
$35.00
$7.50
$144.42
$4.78
$78.90
$3.39
$0.00
$0.00
$154.66
$4.78
$4.78
Total
$9.95
$4.78
$13.40
$4.78
$4.78
$4.78
$9.95
$5.58
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
FOOTNOTES
1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.
2) A second harvest may add as much as $25/acre to variable costs.
3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.
4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set at
time of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety and
herbicides applied.
5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.
6) Additional sprays may be necessary for specific insects.
7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs, bollworm,
and other insect pests.
8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.
9) Do not tank mix Dual Magnum and Liberty when applying on widestrike cotton.
10) Use alternative chemicals on non-Liberty tolerant cotton varieties.
11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of cotton in Tennessee for the previous production year.
14) Operating interest is assumed to be charged on half of all variable expenses.
15) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful
life of 20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farmspecific applications.
16) Management labor for irrigated acreage is assumed to be double that of dryland acres.
17) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur is
commonly applied at a rate of 10-15 lbs/acre.
32
2016 Grain Sorghum, No-Till, Non-Irrigated Budget
Revenue
Unit
Grain Sorghum1
Bu
Variable Expenses
Seed 2
Fertilizer & Lime (Table 1.)
3
Chemical (Table 2.)
Crop Scout
Repair & Maintenance (Table 3.) 4
Fuel, Oil & Filter (Table 3.) 4
Operator Labor (Table 3.) 4
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Fixed Expenses
4
Machinery
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Yield
(bu)
70
75
80
85
90
95
100
105
110
Quantity
Price
Total
Gross Revenue ($/Acre)
90
$3.72 $334.80
Total Revenue $334.80
85
$0.24
1
$91.42
1
$77.11
1
$6.00
1
$18.33
1
$8.02
1
$5.10
0
$0.00
0
$0.00
90
$0.00
1
$98.00
1
$3.67
$327.84
6.00%
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
Your Farm
_________
_________
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
$20.19
$91.42
$77.11
$6.00
$18.33
$8.02
$5.10
$0.00
$0.00
$0.00
$98.00
$3.67
$9.84
$0.00
$337.68
-$2.88
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
$47.33
$0.00
$0.00
$0.00
$15.00
$0.00
$62.33
-$65.21
_________
_________
_________
_________
_________
_________
_________
_________
1
$47.33
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$4.82
$5.71
$4.50
$5.33
$4.22
$5.00
$3.97
$4.71
$3.75
$4.44
$3.55
$4.21
$3.38
$4.00
$3.22
$3.81
$3.07
$3.64
Price
($/bu)
$3.52
$3.57
$3.62
$3.67
$3.72
$3.77
$3.82
$3.87
$3.92
33
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
96
114
95
112
93
110
92
109
91
108
90
106
88
105
87
103
86
102
34
Post-Emerge
Total
Table 3. Machinery 4
Power Unit
Implement
Plant
Tractor, 215 hp
Planter
Burndown
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Fertilize
Tractor, 215 hp
Fertilize Spreader
Weed Control
SP Boom Sprayer
Insecticide
SP Boom Sprayer
Insecticide
SP Boom Sprayer
Harvest
Combine
Grain Head
Haul
Tractor, 215 hp
Grain Cart
Haul
Semi Tractor/Trailer
Total
Insecticides
Pre-Emerge
Description
Gramoxone SL
Surfactant
Bicep II Magnum
Atrazine 4L
Crop Oil
Atrazine 4L
Seed Treatment
Foliar
Foliar (Aphids)
50
1,000
0
K20
Limestone
Potassium
Lime
Other
Total
Table 2. Chemicals3
Chemical
Function
Herbicides
Burndown
Quantity (lbs)
90
50
Description
Urea
P 2 O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
800 bu
Size
16-row
90'
90'
900#
90'
90'
90'
30'
Unit
oz.
pt.
qt.
oz.
pt.
qt.
acre
acre
acre
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.40
Capital Recovery
$6.46
$4.19
$4.19
$1.65
$4.19
$4.19
$4.19
$11.11
$2.31
$4.83
$47.33
Number of Apps.
1
1
1
1
1
1
1
1
1
$17.58
$15.00
$0.00
$91.42
Total ($/Acre)
$38.84
$20.00
Repairs & Maintenance
$3.71
$0.24
$0.24
$2.03
$0.24
$0.24
$0.24
$9.80
$1.06
$0.52
$18.33
Quantity
40
0.2
2.1
11.84
2
1
1
1
1
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
Fuel, Oil & Filter
$1.00
$0.19
$0.19
$1.06
$0.19
$0.19
$0.19
$3.23
$0.65
$1.16
$8.02
Price
$0.25
$3.52
$12.62
$0.11
$3.25
$3.60
$7.50
$10.00
$11.00
Labor
$0.79
$0.16
$0.16
$0.84
$0.16
$0.16
$0.16
$1.23
$0.52
$0.93
$5.10
Total ($/Acre)
$10.00
$0.70
$26.50
$1.30
$6.50
$3.60
$7.50
$10.00
$11.00
$77.11
Total
$11.96
$4.78
$4.78
$5.58
$4.78
$4.78
$4.78
$25.37
$4.53
$7.44
$78.79
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Sorghum price is estimated at 10 cents under the price of corn.
2) Seed cost includes fungicide treatment.
3) Do not use Dual Mangum unless you plant seed that has been safened with Concep or Screen. Do not use Lariat,
Bullet, or Lasso Pre unless you plant seed that has been safened with a seed safener containing the active ingredient
Flurzole. Late-planted sorghum is susceptible to sorghum midge and must be scouted for possible treatment. An
insecticide application for sugarcane aphids in addition to an insecticide application for other pests is assumed. Currently,
Sivanto is the only recommended insecticide for sugarcane aphid control.
4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of grain sorghum in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
35
2016 Grain Sorghum, Conventional Tillage, Non-Irrigated Budget
Revenue
Unit
Grain Sorghum1
Bu
Variable Expenses
Seed2
Fertilizer & Lime (Table 1.)
3
Chemical (Table 2.)
Crop Scout
Repair & Maintenance (Table 3.) 4
Fuel, Oil & Filter (Table 3.) 4
Operator Labor (Table 3.) 4
Machinery Rental
Custom Work
Drying (Fuel/Electric)
5
Cash Rent
Crop Insurance 6
7
Operating Interest
Other Variable Costs
Fixed Expenses
Machinery 4
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor
Other Fixed Costs
Yield
(bu)
70
75
80
85
90
95
100
105
110
Quantity
Price
Total
Gross Revenue ($/Acre)
90
$3.72 $334.80
Total Revenue $334.80
85
$0.24
1
$91.42
1
$62.20
1
$6.00
1
$25.27
1
$11.68
1
$8.00
1
$0.00
1
$0.00
90
$0.00
1
$98.00
1
$3.67
$326.43
6.00%
1
$0.00
Total Variable Expenses
Return Above Variable Expenses
Your Farm
_________
_________
Thous.
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
$20.19
$91.42
$62.20
$6.00
$25.27
$11.68
$8.00
$0.00
$0.00
$0.00
$98.00
$3.67
$9.79
$0.00
$336.23
-$1.43
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
$51.95
$0.00
$0.00
$0.00
$15.00
$0.00
$66.95
-$68.37
_________
_________
_________
_________
_________
_________
_________
_________
1
$51.95
1
$0.00
1
$0.00
1
$0.00
1
$15.00
1
$0.00
Total Fixed Expenses
Return Above All Specified Expenses
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$4.80
$5.76
$4.48
$5.38
$4.20
$5.04
$3.96
$4.74
$3.74
$4.48
$3.54
$4.24
$3.36
$4.03
$3.20
$3.84
$3.06
$3.67
Price
($/bu)
$3.52
$3.57
$3.62
$3.67
$3.72
$3.77
$3.82
$3.87
$3.92
36
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
96
115
94
113
93
111
92
110
90
108
89
107
88
106
87
104
86
103
37
Total
Table 3. Machinery 4
Power Unit
Implement
Chisel
Tractor, 215 hp
Chisel Plow
Disk
Tractor, 215 hp
Tandem Disk
Prepare Seedbed Tractor, 215 hp
Do-All
Plant
Tractor, 215 hp
Planter
Fertilize
Tractor, 215 hp
Fertilize Spreader
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Insect Control
SP Boom Sprayer
Insect Control
SP Boom Sprayer
Harvest
Combine
Grain Head
Haul
Tractor, 215 hp
Grain Cart
Haul
Semi Tractor/Trailer
Total
Description
Bicep II Magnum
Atrazine 4L
Seed Treatment
Foliar
Foliar (Aphids)
50
1,000
0
K20
Limestone
Potassium
Lime
Other
Total
Table 2. Chemicals3
Chemical
Function
Herbicides
Pre-Emerge
Post-Emerge
Insecticides
Quantity (lbs)
90
50
Description
Urea
P 2 O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
1
1
acre
acre
800 bu
Size
21'
29'
26.5'
16-row
900#
90'
90'
90'
90'
30'
1
acre
Capital Recovery
$1.90
$4.48
$2.43
$6.46
$1.65
$4.19
$4.19
$4.19
$4.19
$11.11
$2.31
$4.83
$51.95
1
1
Number of Apps.
$17.58
$15.00
$0.00
$91.42
Total ($/Acre)
$38.84
$20.00
Unit
qt.
qt.
$0.35
$30.00
$0.00
Price ($)
$0.43
$0.40
Repairs & Maintenance
$2.38
$2.59
$2.21
$3.71
$2.03
$0.24
$0.24
$0.24
$0.24
$9.80
$1.06
$0.52
$25.27
Quantity
2.1
2
1
1
1
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
Fuel, Oil & Filter
$1.45
$1.17
$1.22
$1.00
$1.06
$0.19
$0.19
$0.19
$0.19
$3.23
$0.65
$1.16
$11.68
Price
$12.62
$3.60
$7.50
$10.00
$11.00
Labor
$1.16
$0.93
$0.97
$0.79
$0.84
$0.16
$0.16
$0.16
$0.16
$1.23
$0.52
$0.93
$8.00
Total ($/Acre)
$26.50
$7.20
$7.50
$10.00
$11.00
$62.20
Total
$6.88
$9.17
$6.84
$11.96
$5.58
$4.78
$4.78
$4.78
$4.78
$25.37
$4.53
$7.44
$96.90
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Sorghum price is estimated at 10 cents under the price of corn.
2) Seed cost includes fungicide treatment.
3) Do not use Dual Mangum unless you plant seed that has been safened with Concep or Screen. Do not use Lariat,
Bullet, or Lasso Pre unless you plant seed that has been safened with a seed safener containing the active ingredient
Flurzole. Late-planted sorghum is susceptible to sorghum midge and must be scouted for possible treatment. An
insecticide application for sugarcane aphids in addition to an insecticide application for other pests is assumed. Currently,
Sivanto is the only recommended insecticide for sugarcane aphid control.
4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial
differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of grain sorghum in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
38
2016 Canola, Conventional Tillage, Non-Irrigated Budget
Unit
Revenue
Canola 1
Bu
Variable Expenses
Seed 2
Fertilizer & Lime (Table 1.)
Chemical (Table 2.) 3
Crop Scout
Yield
(bu)
30
35
40
45
50
55
60
65
70
Price
Total
Gross Revenue ($/Acre)
50
$8.00
$400.00
Total Revenue $400.00
5
$6.30
$31.50
1
$178.31 $178.31
1
$47.59
$47.59
1
$6.00
$6.00
1
$28.01
$28.01
1
$11.61
$11.61
1
$7.94
$7.94
1
$0.00
$0.00
1
$0.00
$0.00
50
$0.00
$0.00
1
$98.00
$98.00
1
$13.82
$13.82
$422.78
6.00%
$12.68
1
$0.00
$0.00
Total Variable Expenses $435.46
Return Above Variable Expenses -$35.46
Repair & Maintenance (Table 3.) 4
Fuel, Oil & Filter (Table 3.) 4
Operator Labor (Table 3.) 4
Machinery Rental
Custom Work
Drying (Fuel/Electric)
Cash Rent 5
Crop Insurance 6
Operating Interest 7
Other Variable Costs
Fixed Expenses
Machinery 4
Capital Recovery (Table 3.)
Other Fixed Machinery Costs
Property Taxes
Insurance (Non-Machinery)
Management Labor 8
Other Fixed Costs 9
Quantity
Your Farm
_________
_________
lbs
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Acre
Bu
Acre
Acre
%
Acre
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Acre
Acre
Acre
Acre
Acre
Acre
_________
_________
_________
_________
_________
_________
_________
_________
1
$45.40
$45.40
1
$0.00
$0.00
1
$0.00
$0.00
1
$0.00
$0.00
2
$15.00
$30.00
1
$0.00
$0.00
Total Fixed Expenses $75.40
Return Above All Specified Expenses -$110.86
Breakeven Price For Selected Yield
Variable Cost
Total Specified Cost
($/bu)
($/bu)
$14.52
$17.03
$12.44
$14.60
$10.89
$12.77
$9.68
$11.35
$8.71
$10.22
$7.92
$9.29
$7.26
$8.51
$6.70
$7.86
$6.22
$7.30
Price
($/bu)
$7.00
$7.25
$7.50
$7.75
$8.00
$8.25
$8.50
$8.75
$9.00
39
Breakeven Yield for Selected Price
Total Specified Cost
Variable Cost (bu)
(bu)
62
73
60
70
58
68
56
66
54
64
53
62
51
60
50
58
48
57
40
Total
Insecticides
Fungicides
Total
Table 3. Machinery 4
Power Unit
Chisel
Tractor, 215 hp
Disk
Tractor, 215 hp
Plant
Tractor, 215 hp
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Weed Control
SP Boom Sprayer
Harvest
Combine
Haul
Tractor, 215 hp
Haul
Semi Tractor/Trailer
Chop Stalks
Tractor, 215 hp
Other
Other
Rotary Mower
Grain Head
Grain Cart
Implement
Chisel Plow
Tandem Disk
Grain Drill
Description
Treflan
Desiccant
130
1,000
35
1
K2 0
Limestone
Sulfur
Boron
Potassium
Lime
Other
Other
Total
Table 2. Chemicals 3
Chemical
Function
Herbicides
Pre-plant
Harvest
Quantity (lbs)
160
80
Description
Urea
P2O5
Fertilizer
Nitrogen
Phosphorous
Table 1. Fertilizer & Lime
800 bu
15'
Size
21'
29'
20 ft
90'
90'
90'
30 ft
acre
acre
Unit
pt.
acre
$0.35
$30.00
$0.33
$5.00
Price ($)
$0.43
$0.40
$45.40
Capital Recovery
$1.90
$4.48
$4.69
$4.19
$4.19
$4.19
$11.11
$2.31
$4.83
$3.50
$0.00
$0.00
1
1
Number of Apps.
1
1
$45.72
$15.00
$11.55
$5.00
$178.31
Total ($/Acre)
$69.04
$32.00
$28.01
Repairs & Maintenance
$2.38
$2.59
$7.26
$0.24
$0.24
$0.24
$9.80
$1.06
$0.52
$3.68
$0.00
$0.00
1
1
Quantity
1.5
1
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
$11.61
Fuel, Oil & Filter
$1.45
$1.17
$1.85
$0.19
$0.19
$0.19
$3.23
$0.65
$1.16
$1.54
$0.00
$0.00
Price
$5.06
$17.50
$0.00
$0.00
$0.00
$0.00
$15.00
$7.50
$7.94
Labor
$1.16
$0.93
$1.47
$0.16
$0.16
$0.16
$1.23
$0.52
$0.93
$1.23
$0.00
$0.00
Total ($/Acre)
$7.59
$17.50
$0.00
$0.00
$0.00
$0.00
$15.00
$7.50
$47.59
$92.96
Total
$6.88
$9.17
$15.27
$4.78
$4.78
$4.78
$25.37
$4.53
$7.44
$9.95
$0.00
$0.00
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
_________
Your Farm ($/Acre)
_________
_________
_________
_________
_________
_________
_________
_________
_________
FOOTNOTES
1) Includes seed treatment. Canola prices will vary across regions. Additionally access to markets in Tennessee may be
problematic. Should a producer consider adding canola to their rotation, a production contract and/or marketing strategy
should be fully explored prior to the planting decision, as limited buyers are available.
2) Seed cost varies by variety and seeding rate. Check with farm suppliers or contractor for rebates and incentives based
on seed variety and herbicides applied.
3) Chemical application will vary by region: Check seed supplier or production specialist for best alternatives. Since only a
few herbicides are available for weed control in canola, producers should follow crop production recommendations.
Producers should be aware that many chemicals used in the production of other row-crops in Tennessee may have a
detrimental impact on canola.
4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost
estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of
machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a
specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery
Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.
5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences
may exist in cash rental rates reported by NASS and the prevailing rate in your location.
6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average
premium paid per insured acre of canola in Tennessee for the previous production year.
7) Operating interest is assumed to be charged on half of all variable expenses.
8) Management labor is anticipated to be double what it is for conventional Tennessee row-crops.
9) Additional costs may be incurred due to specialized equipment required in the handling, hauling, and storage of canola.
41
Appendix 1: Input Summary Table
Corn
Soybeans
Wheat
Cotton
Cotton-Tech Fee
Grain Sorghum
Canola
Commodity Prices Received by Producers
$3.82
$8.99
$4.70
$0.70
$1.22
$3.72
$8.00
bu
bu
bu
lb
'000 Seeds
bu
bu
Fuel, Interest Rates, Pumping, and Labor Costs
Diesel Fuel ($/gal)
$1.45
Electricity ($/Kwh)
$0.087
Operator Labor ($/hr)
$10.00
Management Labor ($/hr)
$15.00
Operating Interest (%)
6.00%
Fixed Capital Interest (%)
5.00%
Pump Lift Distance (Irrigation)
200
Crop Scout, Consulting, Cash Rent, and Crop Insurance
Crop Scout / Consulting Fee
$6.00
Crop Scouting-Cotton
$9.50
Drying ($/bu)
$0.00
Irrigated Crop Land Cash Rent
$165.00
Non-Irrigated Crop Land Cash Rent
$98.00
Crop Insurance-Corn
$13.84
Crop Insurance-Soybean
$8.97
Crop Insurance-Wheat
$7.35
Crop Insurance-Cotton
$7.02
Crop Insurance-Grain Sorghum
$3.67
Crop Insurance-Canola
$13.82
$/gal
$/Kwh
$/hr
$/hr
%
%
ft
acre
acre
bu
acre
acre
acre
acre
acre
acre
acre
acre
Property Taxes, Non-Machinery Insurance, and Management Labor
Property Taxes
$0.00
$/acre
Insurance (Non-machinery)
$0.00
$/acre
Management Labor
$15.00
$/acre
Corn
Soybean
Canola
Wheat
Cotton (Seed + Tech Fee)
Grain Sorghum
Seed
$3.13
$0.36
$6.30
$18.50
$2.02
$0.24
42
$/Thousand Seeds
$/Thousand Seeds
$/lb
$/bu
$/Thousand Seeds
$/Thousand Seeds
Appendix 1: Input Summary Table
Urea
Ammonium Nitrate
UAN 28%
UAN 32%
P2O5
DAP (18-46-0) - Soybeans
DAP (18-46-0) - Corn
K2O
Lime
Boron
Elemental Sulfur
Atrazine 4#/Gal (oz.)
Atrazine 4#/Gal (qt.)
Gramoxone SL (oz.)
Bicep II Magnum (qt.)
Roundup Power Max (qt.)
Harmony Extra (oz.)
Valor (oz.)
Flexstar GT (pt.)
Halex GT (pt.)
Boundary (pt.)
Cobra (oz.)
Liberty 280 SL (oz.)
Sharpen (oz.)
Metribuzin (oz.)
Axial XL (oz.)
Finesse (oz.)
Clarity 4EC (oz.)
Cotoran (pt.)
Dual Magnum (pt.)
Mepex (Mepiquat Chloride) (pt.)
Defoliant (oz.)
Boll Opener (Ethephon) (oz.)
Treflan (pt.)
Select Max (oz.)
Reglone
Fertilizer
Herbicides
43
$0.43
$0.57
$0.51
$0.51
$0.50
$0.56
$0.40
$0.35
$30.00
$5.00
$0.33
$/lb
$/lb
$/lb
$/lb
$/lb
$/lb
$/lb
$/lb
$/ton
$/lb
$/lb
$0.11
$3.60
$0.25
$12.62
$5.10
$8.00
$5.60
$4.25
$5.25
$9.45
$1.55
$0.62
$5.55
$0.86
$1.07
$16.00
$0.72
$5.75
$10.00
$1.00
$0.48
$0.17
$5.06
$0.78
$0.48
$/oz.
$/qt.
$/oz.
$/qt.
$/qt.
$/oz.
$/oz.
$/pt.
$/pt.
$/pt.
$/oz.
$/oz.
$/oz.
$/oz.
$/oz.
$/oz.
$/oz.
$/pt.
$/pt.
$/pt.
$/oz.
$/oz.
$/pt.
$/oz.
$/pt.
Appendix 1: Input Summary Table
Insecticide Treatments
Soybean -Foliar
$7.00
Grain Sorghum-Foliar
$10.00
Grain Sorghum-Seed Treatment
$7.50
Grain Sorghum (Sugar Cane Aphid)
$11.00
Soybean-Seed Treatment
$8.50
Cotton-Seed Treatment
$9.00
Cotton-Foliar
$35.00
Wheat-Seed Treatment
$11.00
Wheat- Foliar
$3.00
Maintenance Fee (Boll Weevil Eradication)
$1.50
Canola
$15.00
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
$/acre
Fungicides /Other Chemical Inputs
Tilt
$5.00
Soybean-Foliar
$17.40
Soybean-Seed Treatment
$3.75
Cotton-Seed Treatment
$7.50
Wheat-Seed Treatment
$8.40
Wheat-Foliar
$17.40
Crop Oil Concentrate
$3.25
Canola
$7.50
Desiccant
$17.50
Surfactant
$3.52
$/oz.
$/acre
$/acre
$/acre
$/acre
$/acre
$/pint
$/acre
$/acre
$/pint
44
Cotton
Commodity
All
Process
Power Unit
Implement
Chisel
Tractor, 215 hp
Chisel Plow
Disk
Tractor, 215 hp
Tandem Disk
Prepare Seedbed
Tractor, 215 hp
Do-All
Prepare Seedbed
Tractor, 215 hp
Cultimulcher
Plant
Tractor, 215 hp
Planter
Plant
Tractor, 215 hp
Grain Drill
Fertilize
Tractor, 215 hp
Fertilizer Spreader
Weed Control
SP Boom Sprayer
Harvest
Combine
Corn Head
Harvest
Combine
Grain Head
Haul
Tractor, 215 hp
Grain Cart
Haul
Semi Tractor/Trailer
Chop Stalks
Tractor, 215 hp
Rotary Mower
Plant
Tractor, 215 hp
Planter
Weed Control
Tractor, 215 hp
Hooded Sprayer
Harvest
SP Cotton Picker
Harvest
Tractor, 215 hp
Boll Buggy
Harvest
Tractor, 215 hp
Module Builder
Harvest
Picker/Module Builder (Round)
Harvest
Tractor, 215 hp
Module Handler
32'
6-row
15'
12-row
90
6-row
Size
21'
29'
26.5'
20'
16-row
20 ft
900#
90'
8-row
30 ft
800 bu
Capital Recovery
$1.90
$4.48
$2.43
$2.73
$6.46
$4.69
$1.65
$4.19
$13.30
$11.11
$2.31
$4.83
$3.50
$7.25
$7.55
$23.93
$3.72
$4.10
$60.51
$1.46
Field Operations
Repair & Maintenance
$2.38
$2.59
$2.21
$3.00
$3.71
$7.26
$2.03
$0.24
$13.13
$9.80
$1.06
$0.52
$3.68
$3.76
$1.07
$6.16
$0.99
$1.03
$11.45
$0.17
Fuel
$1.45
$1.17
$1.22
$1.62
$1.00
$1.85
$1.06
$0.19
$4.30
$3.23
$0.65
$1.16
$1.54
$1.33
$0.37
$4.84
$1.62
$1.45
$5.38
$0.98
Labor
$1.16
$0.93
$0.97
$1.29
$0.79
$1.47
$0.84
$0.16
$1.64
$1.23
$0.52
$0.93
$1.23
$1.06
$0.29
$1.84
$1.29
$1.15
$1.56
$0.78
Total
$6.88
$9.17
$6.84
$8.64
$11.96
$15.27
$5.58
$4.78
$32.37
$25.37
$4.53
$7.44
$9.95
$13.40
$9.29
$36.77
$7.62
$7.72
$78.90
$3.39
Appendix 2: Field Operations Table
45
Commodity & Production Process
Corn NT Non-Irr
Corn CT Non-Irr
Corn Irr
Soybeans NT Non-Irr
Soybeans Irr
Wheat & Soybean DC
Wheat
Cotton CT
Cotton NT
Cotton IRR
G. Sorghum NT
G. Sorghum CT
Canola
Revenue ($/Acre)
$573.00
$573.00
$859.50
$404.55
$539.40
$596.65
$282.00
$595.00
$612.50
$770.00
$334.80
$334.80
$400.00
Variable Expenses ($/Acre)
$455.79
$458.66
$613.77
$365.65
$467.38
$528.03
$371.64
$535.01
$525.31
$636.33
$337.68
$336.23
$435.46
Fixed Expenses ($/Acre)
$56.13
$60.75
$158.94
$62.33
$165.14
$98.58
$65.17
$139.88
$126.29
$225.05
$62.33
$66.95
$75.40
Profit (Loss)
$61.08
$53.59
$86.79
($23.43)
($93.12)
($29.96)
($154.82)
($79.88)
($39.09)
($91.38)
($65.21)
($68.37)
($110.86)
Summary of Revenue, Variable and Fixed Expenses, and Profit or Loss for each Commodity and Production Method
Appendix 3: Budget Summary
46
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