Soybean Production Costs

2001 Soy Stats

U.S. Soybean Production Costs and Returns 1999
$/Planted Acre (Hectare)

Gross value of production
Soybeans	178.00	(439.83)
Total, gross value of production	178.00	(439.83)

Operating Costs:
Seed	19.25	(47.57)
Fertilizer	7.96	(19.67)
Soil Conditioners	0.10	(0.25)
Manures	0.79	(1.95)
Chemicals	24.88	(61.48)
Custom operations	5.86	(14.48)
Fuel, lube, electricity	5.90	(14.58)
Repairs	9.79	(24.19)
Purchased irrigation water	0.05	(0.12)
Interest on operating capital	1.75	(4.32)
Total, operating costs	76.33	(188.61)

Allocated overhead:
Hired Labor	2.01	(4.97)
Opportunity cost of unpaid labor	18.46	(45.61)
Capital recovery of machinery andequipment	51.58	(127.45)
Opportunity cost of land (rental rate)	79.74	(197.03)
Taxes and insurance	6.77	(16.73)
General farm overhead	14.13	(34.91)
Total, allocated overhead	172.69	(426.71)

Total cost listed	249.02	(615.32)

Value of production less total costs listed	(71.02)	(175.49)
Value of production less operating costs	101.67	251.22

Supporting information:
Yield (bushels per planted acre,metric tons per hectare)	40	2.69
Price ($ per bushel, $ per metric ton)	4.45	163
Enterprise size (planted acres, hectares) 1/	220	89
Production practices:
Irrigated (percent)	5	5
Dryland (percent)	95	95
Source: USDA