Soybean Production Costs

U.S. Soybean Production Costs and Returns 2003
$/Planted Acre (Hectare)

Gross value of production
Soybeans	233.61	(577.24)
Total, gross value of production	233.61	(577.24)

Operating Costs:
Seed	27.42	(67.75)
Fertilizer	7.39	(18.26)
Soil Conditioners	0.12	(0.30)
Manures	0.46	(1.14)
Chemicals	16.92	(41.81)
Custom operations	6.32	(15.62)
Fuel, lube, electricity	8.73	(21.57)
Repairs	9.77	(24.14)
Purchased irrigation water	0.12	(0.30)
Interest on operating capital	0.41	(1.01)
Total, operating costs	77.66	(191.90)

Allocated overhead:
Hired Labor	1.90	(4.69)
Opportunity cost of unpaid labor	16.11	(39.81)
Capital recovery of machinery andequipment	43.43	(107.31)
Opportunity cost of land (rental rate)	81.93	(202.45)
Taxes and insurance	5.80	(14.33)
General farm overhead	11.66	(28.81)
Total, allocated overhead	160.83	(397.41)

Total cost listed	238.49	(589.30)

Value of production less total costs listed

(4.88)

(12.06)

Value of production less operating costs

155.95

385.35

Supporting information:

Yield (bushels per planted acre,

metric tons per hectare)

(2.42)

Price ($ per bushel, $ per metric ton)

6.56

(241)

Enterprise size (planted acres,

hectares) 1/

268

(108)

Production practices: 1/

Irrigated (percent)

Dryland (percent)

1/ Developed from survey base year, 2002.

The 2005 edition of Soy Stats Online is sponsored by
Syngenta Seeds

Golden Harvest Seeds

Garst� Seed

NK� Brand Seeds