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Table 5: Costs and Returns for Soybeans, Per Acre

Conventional Production Practices, Northeastern United States, 1996

ITEM UNIT PRICE QUANTITY TOTAL
         
Receipts        
Soybeans bushel $ 7.00 40 $ 280.00
         
Variable Costs        
Custom        
Apply Calcium Lime ton $ 27.65 0.5 $ 13.83
Drying        
Soil Test acre $ 1.00 1 $ 1.00
Fertilizer        
P pound $ 0.32 80 $ 25.60
K pound $ 0.14 80 $ 11.20
Herbicides      
Canopy pound $ 38.47 0.3 $ 11.54
Lasso-Microtech gallon $ 26.84 0.5 $ 13.42
Seed        
Soybean Seed bushel $ 14.85 1.17 $ 17.37
Labor        
Operator hour $ 14.48 1.59 $ 23.02
Diesel Fuel        
Tractors gallon $ 0.969 6.55 $ 6.35
Self-Propelled Eq. gallon $ 0.969 1.48 $ 1.43
Repair & Maintenance      
Tractors acre $ 2.88 1 $ 2.88
Self-Propelled Eq. acre $ 5.47 1 $ 5.47
Implements acre $ 6.06 1 $ 6.06
Sub-Total       $ 139.17
Interest on Operating Capitala acre 10% 1 $ 4.04
Total Variable Costs acre   1 $ 143.21
Returns Above Variable Costs acre   1 $ 136.79
Fixed Costs        
Tractors acre $ 8.79 1 $ 8.79
Self Propelled Eq. acre $ 7.21 1 $ 7.21
Implements acre $ 14.26 1 $ 14.26
Land Charge acre $ 50.00 1 $ 50.00
Total Fixed Costs acre   1 $ 80.26
Total Fixed & Variable Costs acre   1 $ 223.47
Management Fees a acre 7% 1 $ 12.14
Total Costs acre   1 $ 235.61
Net Returns acre   1 $ 44.39

a See text for calculation assumptions.

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