Soybean Production Costs

U.S. Soybean Production Costs and Returns 2002
$/Planted Acre (Hectare)

Gross value of production
Soybeans	215.52	(532.54)
Total, gross value of production	215.52	(532.54)

Operating Costs:
Seed	24.07	(59.48)
Fertilizer	7.50	(18.53)
Soil Conditioners	0.11	(0.27)
Manures	0.85	(2.10)
Chemicals	22.89	(56.56)
Custom operations	6.03	(14.90)
Fuel, lube, electricity	7.89	(19.50)
Repairs	10.72	(26.49)
Purchased irrigation water	0.06	(0.15)
Interest on operating capital	0.67	(1.66)
Total, operating costs	80.79	(199.63)

Allocated overhead:
Hired Labor	2.18	(5.39)
Opportunity cost of unpaid labor	20.85	(51.52)
Capital recovery of machinery andequipment	56.46	(139.51)
Opportunity cost of land (rental rate)	83.27	(205.76)
Taxes and insurance	7.09	(17.52)
General farm overhead	15.40	(38.05)
Total, allocated overhead	185.25	(457.75)

Total cost listed	266.04	(657.38)

Value of production less total costs listed

-50.79

(-125.50)

Value of production less operating costs

134.46

(332.25)

Supporting information:

Yield (bushels per planted acre,

metric tons per hectare)

(2.76)

Price ($ per bushel, $ per metric ton)

5.25

(193)

Enterprise size (planted acres,

hectares) 1/

220

(89)

Production practices: 1/

Irrigated (percent)

(5)

Dryland (percent)

(95)

1/ Developed from survey base year, 1997


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