Transcription
Publication 60Field CropBudgets2022Ministry of Agriculture,Food and Rural Affairs
These crop budgets are a tool for estimating expenses.The sample costs are only a guide to illustrate amethod of preparing your projections. They are basedon many assumptions, including seeding rates, levelsof fertilizer use, etc. Due to regional differences, theremay be considerable variation in results.To project your break-even price after total costs, enteryour farm figures in the spaces provided. The resultingestimate will help you choose your crop mix and settarget prices and marketing strategies for your farm.Electronic versions of these crop budget worksheets can be found at ontario.ca/agbusiness under Cost of Production Budgets.The use of imperial and metric measurement in this publication reflects the way information is reported by industry.Fertilizer rates are typically reported in kilogram (kg)/hectare. See page 22 for metric and imperial conversions.Front cover:Field of soybeans mid-season.Back cover:Sprout of recently appeared corn. Photo source: Shutterstock.
CONTENTS2022 Field Crop Budgets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12022 Crop Comparison Summary Table for Selected Field Crops . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Crop BudgetsAlfalfa-timothy hay. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Barley. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Spring canola (herbicide tolerant). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Winter canola . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Coloured beans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Grain corn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Silage corn. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9Flax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Oats . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Soybeans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Switchgrass . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Soft red winter wheat. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Hard red winter wheat. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Hard red spring wheat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16White/black beans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Organic — grain corn and soybeans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Organic — winter wheat and spelt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Organic — barley and oats. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20OMAFRA Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21Metric Conversion Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22i
2022 FIELD CROP BUDGETSCrop budgets are a management tool to estimate costs and evaluate cropping alternatives. The sample costs arenot averages or recommended treatments. The budgets comprise treatments derived from crop advisors in theareas where the crops are commonly grown. There will be differences due to growing region, cropping practices,individual needs and yield expectations. The budgets, unless indicated otherwise, are based on conventionaltillage practices. Seed costs, except for the Bacillus thuringiensis (Bt), Roundup Ready (RR) and herbicide-tolerantcorn, spring canola and soybeans, are for non-genetically enhanced varieties. The budgets developed for Bt, RRor herbicide-tolerant varieties do not represent an endorsement of these products. They are included due to thecurrent predominance of these production systems in field crop operations.Identity Preserved (IP) crops require budgeting for any extra expenses and revenue, e.g., increased seed, weedcontrol, storage and equipment cleaning costs. Some of the budgets provide a line item for this.Interest rates were calculated at 3.45% for the period between planting and harvest.These budgets will be most meaningful if you use your expected yields and specific costs in developingproduction plans. Input prices for seed, fertilizer, fuel and pesticides were based on the survey results reportedin the Ontario Farm Input Monitoring Project conducted by the University of Guelph, Ridgetown campus. Theproduction insurance and risk management program premiums shown are the producer premiums at the highestcoverage level and at the floating price, if available.The estimated costs for machinery are derived from agricultural engineering formulas and Ontario averagecustom rates. The Ontario average custom rates are allocated across the six machinery-related expenses. Itis recommended that you use your records to derive your costs. Experience is the best guide to help budgetmachinery costs. Prior year’s statements of income and expenses can provide information on equipment repairs,maintenance and fuel costs. The portion of those costs that relates to crop production can be divided by theacres of crop produced to arrive at a cost per acre.Overhead expenses are a major part of the total cost of doing business. In addition to the depreciation of machinery,include depreciation on all related tools and storage buildings. Land costs would include property tax and anyother land-related costs. Other overhead expenses should include insurance, professional fees, office, vehicles andstorage. In all cases, divide overhead expenses by the acreage of crop to express costs on a per-acre basis. Intereston investment is an opportunity cost to you — the rate of return that you expect or want on your invested capital.If there are significant debt commitments for land and equipment, an alternative method of budgeting overheadexpenses is to use the debt servicing requirements. In this case, use the actual interest and principal paymentcommitments, rather than depreciation and expected return on invested capital.“Total Revenue” is the yield you expect, multiplied by the price you expect. Yield information is most accurate ifbased on your experience with the land and techniques you will be using. If you do not have such records, check withAGRICORP or a local farm supply dealer. They can help you develop plans and reasonable expectations for your crops.“Contribution Margin” is the difference between total operating expenses and total revenue. “OperatingExpenses” (e.g., seed, fertilizer, fuel, repairs, etc.) change with the crop grown and the production blend used.“Fixed or overhead costs” will show little or no change whether one crop or another is grown. “ContributionMargin” is a quick and easy measure for comparing relative profitability among your cropping choices.Table 1. Adjustment of nitrogen requirements for previous crops with nitrogen creditsN requirement reduction(kg/ha)CornOther Crops00555511011080451300Type of cropPerennial forage, less than one-third legumePerennial forage, one-third to half legumePerennial forage, half or more legumeClover cover crop seeded/ploughed in same yearSoybean and field bean residue1Applies where the legume stand is thick and over 40 cm (16 in.) high.1
2022 Field Crop Budgets2022 Crop Comparison Summary Table for Selected Field Crops ( /acre)*ExpenseSeedSeed treatmentFertilityPesticidesTotal 343.10RoundupHerbicideReadyTolerant Non-GMOSpringSoybeans Soybeans ColouredNo TillBeansCanolaNo Till84.7550.6582.15 .6527.05 125.55292.20210.40186.30 rdSoft RedRedWinterOatsWheat (Southern SpringWheatNo .9040.7025.1530.20257.70172.60 198.00TillagePlantingSprayingFertilizingHarvesting & truckingTotal 012.1012.1057.9060.40183.00 174.35DryingProduction insuranceRisk managementInterest @ 3.45%Marketing & otherTotal �10.0512.5510.004.904.505.801.701.25381.85 396.85YieldPriceGross ReturnNet Margin/AcreLess:Land cost/rentUtilities/acct/misc.Net Return per Acre*The crop comparison summary table is derived from the individual budgets in the publication. Some expense items have been combinedin the summary table. For the break-out of the individual expenses, refer to the respective budget in the publication.Crop Budgeting Tools:Market and input prices projected were as of November 2021. Given the variability of the markets expected for2022, it is important to use current prices. Use the following tools to determine your cost of production: Ontario Enterprise Budgeting Tools: ontario.ca/agbusiness, search for “budgeting tools”Custom Farmwork Rates: ontario.ca/agbusiness, search for “custom farm rates”Custom Farmwork Rate calculator: ontario.ca/agbusiness, search for “custom farm rate calculator”Field Crop Statistics : Harvested Area, Production, Crop Prices, Corn Supply and Disposition:ontario.ca/agbusiness, search for “field crop statistics” Crop Nutrient Removal calculator (from IPNI): www.ipni.net/article/IPNI-3346 Corn Nitrogen calculator: www.gocorn.net Mobile Apps: Cash Cropper, Pest Manager and Ontario Corn Nitrogen Calculator: www.gfo.ca/apps2
2022 Field Crop BudgetsALFALFA-TIMOTHY HAYSample Costs/DIRECT SEEDING ESTABLISHMENTAcreSeed13.45 kg/ha alfalfa90.60Other seed (timothy) 4.48 kg/ha17.95Inoculant1.0516.50Fertilitycrop24 kg/ha P2O5 (6.1 kg/tonne removal rate)removal 92 kg/ha K2O (23.5 kg/tonne removal rate)41.25Herbicidebroadleaf weed control15.95Production insurance4.40Tractor andfuel (37 L) and lubricants44.10machine expenses repairs42.15Custom work2 pesticide applications22.202 fertilizer applications, mixing and delivery24.20bale wrapping — plastic — 50% yield42.40Twine2.50Operator labour (self or hired)29.00Interest12.60Total Establishment Year Expenses406.85ANNUAL OPERATING EXPENSES (costs based on projected yield of 3.15 tonnes DM/acre over 2 cuts)Establishment year expenses — over 4 years (less establishment year sales)32.90Fertilitycrop47 kg/ha P2O5 (6.1 kg/tonne removal rate)removal 183 kg/ha K2O (applied in fall) (23.5 kg/tonne removal rate)82.20Tractor andfuel (26 L) and lubricants30.60machine expenses repairs32.60Twine4.95Production insurance24.40Custom work2 fertilizer applications, mixing and delivery24.20bale wrapping — plastic84.80Other costs–Land rent–Operator labour (self or hired)29.95Interest on operating6.40Total Annual Operating Expenses358.65REVENUEExpected yieldExpected priceTotal Revenue (Yield x Price)CONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation32.95interest on investment15.85Land–Other overhead6.85NITROGEN CREDIT TO FOLLOWING CROPS IN ROTATIONNitrogen credit ( /acre N reduction (from Table 1) x price of N)Grain yield increaseTotal benefits/yearTOTAL EXPENSES414.30Break-even price on your farm (total expenses/expected yield):3Your FarmBudget
2022 Field Crop BudgetsBARLEYFeed Barley Malting BarleyOPERATING EXPENSESSample Costs/ Sample Costs/ Your Farm(costs based on projected yield of 1.5 tonnes/acre (70 bu/acre))AcreAcreBudgetExpenses for GrainSeed1.0–1.4 million seeds/acre, certified seed51.2551.25Fertility113 kg/ha N (246 kg/ha Urea (Northern Ontario — Feed)76.15–90 kg/ha N (196 kg/ha Urea (Southern Ontario — Feed)60.65–56 kg/ha N (122 kg/ha Urea (Eastern Ontario — Feed)37.75–45–67 kg/ha N (98–146 kg/ha Urea (Malting))–37.7521.1521.15crop30 kg/ha P2O5 (8.0 kg/tonne removal rate)removal 24 kg/ha K2O (6.3 kg/tonne removal rate)10.7010.70Herbicidebroadleaf weed control10.5510.55grassy weed control9.609.60Fungicide19.6519.65Tractor and machine fuel (26 L) and lubricants31.2031.20expensesrepairs and maintenance25.9525.95Production insurance10.0510.05Risk Management Program12.1012.10Marketing board fees ( 1.19/tonne)1.801.80Custom workfertilizer application, mixing and delivery12.1012.102 pesticide application22.2022.20other––Trucking ( 9.10/tonne)13.9013.90Storage––Quality testing––Land rent––Operator labour (self or hired)13.1513.15Interest on operating7.407.05Total Operating Expenses — Grain (Feed (average of 3 regions))330.95310.15Expenses for Straw (costs based on projected yield of 1.89 tonnes/acre)8.508.50Fertilitycrop12 kg/ha P2O5 (2.6 kg/tonne removal rate)removal 94 kg/ha K2O (20.0 kg/tonne removal rate)42.4542.45Tractor and machine fuel (6 L) and lubricants6.706.70expensesrepairs and al Operating Expenses — Straw87.7587.75Total Operating Expenses418.70397.90REVENUEExpected barley yieldExpected barley priceTotal Market Revenue (Yield x Price)Program paymentTotal Barley RevenueExpected straw yieldExpected straw priceTotal Straw Revenue (Yield x Price)Total RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)Feed BarleyMalting BarleyOVERHEAD EXPENSESBarley OnlyBarley & Straw Barley Only Barley & rest on r overhead5.657.655.657.65TOTAL EXPENSES387.30487.85366.50467.05Break-even price on your farm (total expenses/expected yield):4
2022 Field Crop BudgetsSPRING CANOLA (Herbicide Tolerant)OPERATING EXPENSESSample Costs/(costs based on projected yield of 1.0 tonnes/acre (2,200 lb/acre))AcreSeed5.6 kg/ha hybrid, treated84.75195.50Fertility114 kg/ha N (197 kg/ha urea 112 kg/ha ammonium sulphate)42.35crop61 kg/ha P2O5 (24.5 kg/tonne removal rate)removal 30 kg/ha K2O (12.0 kg/tonne removal rate)13.45Herbicidegrass and broadleaf weed control11.90Technology use agreement–Insecticideif required (swede midge)23.25Fungicideif required21.00Tractor andfuel (30 L) and lubricants36.50machine expenses repairs and maintenance22.65Marketing board and Grain Financial Protection fees ( 4.00/tonne)4.00Production insurance19.55Risk Management Program10.35Custom workfertilizer application, mixing and delivery12.103 pesticide applications33.35other–Trucking ( 9.10/tonne)9.10Storage–Land rent–Operator labour (self or hired)16.15Interest on operating7.85Total Operating Expenses463.80REVENUEExpected yieldExpected priceTotal Market Revenue (Yield x Price)Program paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation33.90interest on investment9.90Land–Other overhead5.45TOTAL EXPENSES513.05Break-even price on your farm (total expenses/expected yield):Your FarmBudgetNitrogen rate is based on nitrogen price of 1.69/kg ( 0.77/lb) N and a canola price of 750/tonne. 112 kg/ha ammonium sulphate(21-0-0-24) supplies 27 kg/ha sulphur.See the canola section of the OMAFRA Agronomy Guide for Field Crops, Publication 811, for more accurate nitrogen requirements for canola,adjusted for yield and fertilizer cost.15
2022 Field Crop BudgetsWINTER CANOLAOPERATING EXPENSESSample Costs/(costs based on projected yield of 1.3 tonnes/acre)AcreSeed*4.5 kg/ha — hybrid, treated75.301154.80Fertility**202 kg/ha N (388 kg/ha urea 112 kg/ha ammonium sulphate)55.20crop80 kg/ha P2O5 (24.5 kg/tonne removal rate)removal 39 kg/ha K2O (12.0 kg/tonne removal rate)17.55Herbicidevolunteer cereal control11.85Insecticideif required (cabbage seedpod weevil)23.25Fungicideif required21.00Tractor andfuel (24 L), lubricants29.00machine expenses repairs and maintenance16.55Marketing board and Grain Financial Protection fees ( 4.00/tonne)5.20Production insurance19.55Risk Management Program13.45Custom workfertilizer application, mixing and delivery12.103 pesticide applications33.35other–Trucking ( 9.10/tonne)11.85Storage–Land rent–Operator labour (self or hired)12.55Interest on operating8.85Total Operating Expenses521.40REVENUEExpected yieldExpected priceTotal Market Revenue (Yield x Price)Program paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation24.35interest on investment7.35Land–Other overhead2.25TOTAL EXPENSES555.35Break-even price on your farm (total expenses/expected yield):Your FarmBudget* Seeding rate recommended range is 3.4–5.6 kg/ha (3–5 lb/acre). The lower rate may be difficult to achieve with some seed drills.** Additional nitrogen in the fall may be beneficial if seeding is delayed.1112 kg/ha ammonium sulphate (21-0-0-24) supplies 27 kg/ha sulphur.6
2022 Field Crop BudgetsCOLOURED BEANSOPERATING EXPENSESSample Costs/(costs based on projected yield of 0.91 tonnes/acres (20 cwt/acre))AcreSeed78–90 kg/ha (4–5 seeds/ft row) certified, treated seed (with137.05fungicide plus Cruiser insecticide)Fertility40 kg/ha N26.9522.05crop32 kg/ha P2O5 (14.0 kg/tonne removal rate)removal 32 kg/ha K2O (14.0 kg/tonne removal rate)14.30Herbicideannual grass and broadleaf weeds72.85other weed control, if required–Insecticide–Fungicideif required (white mould)44.70Crop pre-harvest8.00Tractor andfuel (45 L) and lubricants54.00machine expenses repairs and maintenance49.65Marketing board fees ( 6.50/tonne)5.90Production insurance26.35Risk Management Program0.20Custom workfertilizer application, mixing and delivery12.104 pesticide applications44.45Trucking ( 9.10/tonne)8.30Drying–Land rent–Operator labour (self or hired)26.10Interest on operating9.10Total Operating Expenses562.05REVENUEExpected yieldExpected priceTotal Market Revenue (Yield x Price)Less pick charges (typically 2%–4%)Program paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation71.90interest on investment25.50Land–Other overhead11.60TOTAL EXPENSES671.05Break-even price on your farm (total expenses/expected yield):7Your FarmBudget
2022 Field Crop BudgetsGRAIN CORNTillage RATING EXPENSES(costs based on projected yield of 4.43 tonnes/acre (174 bu/acre)) Costs/AcreSeed1 (average32,000 kernels — treated — RR2114.75cost of 3 hybrids)32,000 kernels — treated — Bt101.4532,000 kernels — treated — multi-trait126.6032,000 kernels — treated — non-GMO–Insecticide seed treatment, if required1.60173 kg/ha N (618 kg/ha of 28-0-0 U.A.N.)120.40Fertility355.65crop80 kg/ha P2O5removal (7.25 kg/tonne removal rate)24.4024.4024.4054 kg/ha K2O(4.9 kg/tonne removal rate)Herbicideannual grass and broadleaf weed26.8031.5526.80burndown––11.40other weed control, if required–––Insecticide/fungicide if required–––Tractor andfuel (34 L conventional, 19 L no-till) and lubricant41.2541.2522.55machine expenses repairs and maintenance26.2026.2015.45Marketing board and Grain Financial Protection fees ( 0.401/tonne)1.751.751.75Production insurance15.7515.7515.75Risk Management Program6.906.906.90Custom workfertilizer application, mixing and delivery12.1012.1012.10pesticide applications11.1011.1022.20other–––Trucking ( 9.10/tonne)41.3041.3041.30Drying ( 21.90/tonne, 8 points)96.8096.8096.80Land rent–––Operator labour (self or hired)15.9015.908.30Storage ( 2.35/tonne/month x 4 months)41.6041.6041.60Interest on operating11.2510.9011.00Total Operating Expenses665.00643.70650.20REVENUEExpected yield (Corn following corn: 8.5% corn yield decrease)Expected priceTotal Market Revenue (Yield x Price)Program paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD st on investment12.5512.557.15Land–––Other overhead4.404.402.90TOTAL EXPENSES721.70700.40682.60Break-even price on your farm (total expenses/expected yield):123YourFarmBudgetSeed treated with fungicide only.Roundup Ready.Nitrogen rate is based on the nitrogen rate calculator. Nitrogen recommendation is for corn grown in southwestern/central Ontario,2,800 heat units, clay loam soil, following wheat with straw removed, with projected corn yield of 4.43 tonnes/acre (174 bu/acre),nitrogen cost of 1.74/kg and corn price of 252/tonne ( 6.40/bu). See www.gocorn.net for more accurate nitrogen requirementsfor corn.8
2022 Field Crop BudgetsSILAGE CORNOPERATING EXPENSESSample Costs/(costs based on projected yield of 8.71 tonnes DM/acre)AcreSeed32,000 kernels, with seed treatment116.35Insecticide seed treatment, if required1.60173 kg/ha N (618 kg/ha of 28-0-0 U.A.N.)120.40Fertility183.10crop120 kg/ha P2O5 (5.5 kg/tonne removal rate)removal 254 kg/ha K2O (11.7 kg/tonne removal rate)114.10Herbicideannual grass and broadleaf weeds26.80other weed control, if required–Insecticide/fungicide if required–Tractor and machine fuel (18 L) and lubricants21.45expensesrepairs and maintenance18.85Silo repair and maintenance–Production insurance15.75Silage inoculant–Custom workfertilizer application, mixing and delivery12.10pesticide applications11.10harvest90.00Land rent–Operator labour (self or hired)9.30Interest on operating11.05Total Operating Expenses651.95REVENUEExpected yieldExpected priceTotal Market Revenue (Yield x Price)Program paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation27.30interest on investment9.70Land–Other overhead4.65TOTAL EXPENSES693.60Break-even price on your farm (total expenses/expected yield):1Your FarmBudgetNitrogen rate is based on the nitrogen rate calculator. Nitrogen recommendation is for corn grown in southwestern/central Ontario,2,800 heat units, clay loam soil, following wheat with straw removed, with projected grain corn yield of 4.43 tonnes/acre (174 bu/acre),ensiled at 65% moisture, nitrogen cost of 1.74/kg and corn price of 252/tonne ( 6.40/bu). See www.gocorn.net for more accuratenitrogen requirements for corn.9
2022 Field Crop BudgetsFLAXOPERATING EXPENSESSample Costs/(costs based on projected yield of 0.77 tonnes/acre)AcreExpenses for GrainSeed49 kg/ha certified, treated26.60Fertility45 kg/ha N30.3516.40crop removal24 kg/ha P2O5 (7.5 kg/tonne removal rate)8.2018 kg/ha K2O (5.8 kg/tonne removal rate)Herbicidebroadleaf weed control5.50grass weed control, if required19.80desiccant9.50Fungicide–Tractor andfuel (26 L) and lubricants31.20machine expenses repairs and maintenance25.95Production insurance12.95Custom workfertilizer application, mixing & delivery12.102 pesticide applications22.20other–Trucking ( 9.10/tonne)7.05Storage–Land rent–Operator labour (self or hired)13.15Interest on operating4.15Total Operating Expenses — Grain245.10Expenses for Straw (costs based on projected yield of 2.21 tonnes/acre)12.25Fertilitycrop removal18 kg/ha P2O5 (3.2 kg/tonne removal rate)O(19.0kg/tonneremovalrate)47.15105 kg/ha K2Tractor andfuel (6 L) and lubricants6.70machine expenses repairs and maintenance7.30Twine9.70Other14.45Total Operating Expenses — Straw97.55Total Operating Expenses342.65REVENUEExpected flax yieldExpected flax priceTotal Market Revenue (Yield x Price)Program paymentTotal Flax RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESFlax OnlyFlax & StrawMachinerydepreciation37.6546.05interest on investment13.0515.45Land––Other overhead5.657.65TOTAL EXPENSES301.45411.80Break-even price on your farm (total expenses/expected yield):10Your Farm Budget
2022 Field Crop BudgetsOATSOPERATING EXPENSESSample Costs/(costs based on projected yield of 1.26 tonnes/acre (81 bu/acre))AcreSeed1.1 million seeds/acre, certified treated47.00Fertility113 kg/ha N (245 kg/ha Urea)75.8516.40crop24 kg/ha P2O5 (7.5 kg/tonne removal rate)removal8.2018 kg/ha K2O (5.8 kg/tonne removal rate)Herbicideweed control, if required5.50Fungicide19.65Plant growth regulator14.85Tractor andfuel (26 L) and lubricants31.20machine expenses repairs and maintenance25.95Production insurance10.05Risk Management Program10.00Marketing board fees ( 1.34/tonne)1.70Custom workfertilizer application, mixing and delivery12.103 pesticide applications33.35Trucking ( 9.10/tonne)11.50Storage–Land rent–Operator labour (self or hired)13.15Interest on operating4.50Total Operating Expenses — Grain340.95Expenses for Straw (costs based on project yield of 2.21 tonnes/acre)12.25Fertilitycrop18 kg/ha P2O5 (3.2 kg/tonne removal rate)removal47.15105 kg/ha K2O (19.0 kg/tonne removal rate)Tractor andfuel (6 L) and lubricants6.70machine expenses repairs and maintenance7.30Twine9.70Other14.45Total Operating Expenses — Straw97.55Total Operating Expenses438.50REVENUEExpected oat yieldExpected oat priceTotal Market Revenue (Yield x Price)Program paymentTotal Oats RevenueExpected straw yieldExpected straw priceTotal Straw Revenue (Yield x Price)Total RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESOats Only Oats & StrawMachinerydepreciation37.6546.05interest on investment13.0515.45Land––Other overhead5.657.65TOTAL EXPENSES397.30507.65Break-even price on your farm (total expenses/expected yield):11Your FarmBudget
2022 Field Crop BudgetsSOYBEANSTillage SystemNon-GMONon-GMORoundupSoybeansSoybeansReady cre Costs/Acre Costs/Acre50.6550.6582.15OPERATING EXPENSES(costs based on projected yield of 1.28 tonnes/acre (47 bu/acre))Seed177,000 seeds/acre in 15-in. rows — drill(165,000 seeds/acre in 15-in. rows — planter)Fungicide seed treatment13.0013.0013.00Additional seed treatments or inoculants, If required–––31.0531.0531.05Fertilitycrop45 kg/ha P2O5removal (14.0 kg/tonne removal rate)33.0533.0533.0574 kg/ha K2O(23.0 kg/tonne removal rate)Herbicideannual grass and broadleaf weeds69.9069.9014.30burndown–12.7512.75other weed control, if required–––Insecticide/fungicide if required–––Tractor andfuel (26 L conventional, 17 L no till) and lubricants31.2020.8020.80machine expenses repairs and maintenance27.0014.4014.40Marketing board and Grain Financial Protection fees ( 1.39/tonne)1.801.801.80Production insurance10.2510.2510.25Risk Management Program3.003.003.00Drying, if required–––Custom workpesticide applications11.1022.2022.20fertilizer application, mixing and delivery12.1012.1012.10Added expense for IP–––Trucking ( 9.10/tonne)11.6511.6511.65Storage ( 2.35/month/tonne x 4 months)12.0012.0012.00Land rent–––Operator labour (self or hired)13.159.009.00Interest on operating5.705.655.25Total Operating Expenses336.60333.25308.75REVENUEExpected yield (Soybeans following soybeans: 10% soybean yield decrease)Expected priceTotal Market Revenue (Yield x Price)Additional revenue from IPProgram paymentTotal RevenueCONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD st on investment13.556.656.65Land–––Other overhead6.002.602.60TOTAL EXPENSES394.90363.55339.05Break-even price on your farm (total expenses/expected yield):12Your FarmBudget
2022 Field Crop BudgetsSWITCHGRASSDirect ts/AcreESTABLISHMENT EXPENSESSeed11.25 kg/ha switchgrass160.00160.00Fertilitynitrogen, if required––––cropP2O5removal K2O––Herbicideannual grass and broadleaf control13.8013.80burndown–12.75other weed control, if required––Insecticide/fungicideif required––Tractor and machinefuel (13 L conventional, 5 L no till) and lubricants15.406.20expensesrepairs and maintenance18.856.20Custom workpesticide applications11.1022.20fertilizer applications, mixing and delivery––Harvest and trucking (spring wheat)––Operator labour (self or hired)9.804.45Establishment failure rate––Interest on operating3.803.80Total Establishment Year Expenses232.75229.40ANNUAL OPERATING EXPENSES (costs based on projected yield of 4.0 tonnes/acre (4.4 tons/acre))Establishment year expenses — over 7 years (less establishment year sales)48.0042.00Fertility76 kg/ha nitrogen52.1052.10––cropP2O5removal K2O––Tractor and machinefuel (18 L) and lubricants21.9521.95expensesrepairs and maintenance32.2532.25Custom workfertilizer applications, mixing and delivery12.1012.10Trucking––Removal and storage93.0093.00Twine––Operator labour (self or hired)13.5013.50Interest on operating4.704.60Total Annual Operating Expenses270.45264.35REVENUEExpected yieldExpected priceTotal Revenue (Yield x Price)CONTRIBUTION MARGIN (Revenue – Operating Expenses)OVERHEAD EXPENSESMachinerydepreciation4
2022 Field Crop Budgets 3 ALFALFA-TIMOTHY HAY DIRECT SEEDING ESTABLISHMENT Sample Costs/ Acre Your Farm Budget Seed 13.45 kg/ha alfalfa 90.60 Other seed (timothy) 4.48 kg/ha 17.95
