Publication 60—Soybeans

Soybeans

Operating Expenses
(costs based on projected yield of 1.14 tonne/ac
(42 bu/ac))		 Tillage System Your Farm Budget
Conventional No-Till Roundup Ready®
No-Till
Sample Costs/Acre Sample Costs/Acre Sample Costs/Acre

Seed - 177,000 seeds/acre in 15-in. rows - drill

(165,000 seeds/acre in 15-in. rows - planter)
51.30
51.30
80.45
  
Fertilizer - Nitrogen, if required
        
Fertilizer - 20 kg/ha P
9.65
9.65
9.65
  
Fertilizer - 40 kg/ha K
18.80
18.80
18.80
  
Herbicide - annual grass and broadleaf weeds
36.90
36.90
6.90
  
Herbicide - burndown
 
6.90
6.90
  
Herbicide - other weed control, if required
 
 
 
  
Seed treatment/inoculant, if required
 
 
 
  
Tractor and Machine Expenses - Fuel (17 L conv., 8L no till) and lubricants
19.75
10.40
10.40
  
Tractor and Machine Expenses - Repairs and Maintenance
15.90
11.90
11.90
  
Marketing fees ($1.10/tonnne)
1.25
1.25
1.25
  
Crop insurance
11.25
11.25
11.25
  
Drying ($11.17/tonne)
12.15
12.15
12.15
  
Custom work (pesticide applications)
10.20
20.40
20.40
  
Custom work (fertilizer appl., mixing & delivery)
10.20
10.20
10.20
  
Added expense for IP
 
 
 
  
Trucking ($8.35/tonne)
9.60
9.60
9.60
  
Storage ($2.06/month/tonne x 4 months)
9.45
9.45
9.45
  
Land rent
 
 
 
  
Operator labour (self or hired)
12.45
6.45
6.45
  
Interest on operating
4.60
4.55
4.50
  
Total Operating Expenses
233.45
231.15
230.25
  

Revenue Your Farm Budget
Expected yield _______________
  
Expected price _______________
  
Total Market Revenue (Yield x Price)
 
Additional revenue from IP
 
Program payment
 
Total Revenue
  
Gross Margin (Revenue - Operating Expenses)
  

Overhead Expenses Tillage System Your Farm Budget
Conventional
Sample Costs/Acre 		No-Till
Sample Costs/Acre 		Roundup Ready®
No-Till
Sample Costs/Acre
Machinery - Depreciation
29.65
18.45
18.45
  
Machinery - Interest on investment
15.25
10.25
10.25
  
Land
       
Other overhead
11.50
7.15
7.15
  
Total Expenses
289.85
267.00
266.10
  
Breakeven price on your farm is: (total expenses/expected yield)
  

For more information:
Toll Free: 1-877-424-1300
Local: (519) 826-4047
E-mail: ag.info.omafra@ontario.ca
Author: John Molenhuis - Business Analysis and Cost of Production Program Lead/OMAFRA
Creation Date: 14 December 2010
Last Reviewed: 12 December 2012