Annual crop budgets are compiled by using data from the FINBIN website. The data is collected from farmers and agricultural producers enrolled in the Minnesota Farm Business Management Education through Minnesota State and Southwestern Minnesota Farm Business Management Association. These farms represent approximately 10 percent of Minnesota farms.
The tables are calculated on a per acre basis. The top portion of each table shows income. Yield multiplied by price equals the total production return per acre. Adding miscellaneous income (straw, crop insurance, etc.) equals the gross return per acre.
The next portion of each table shows expenses on a per acre basis. Other expenses include marketing, hedging, drying, operating interest and other.
In bold, you can see how much is left to cover land rent and owner (labor and management charge). For previous years the average land rent and labor and management charges are listed, but for the current year forecast they are unknown.
Southern Minnesota
The counties included in southern Minnesota are Benton, Big Stone, Blue Earth, Brown, Carver, Chippewa, Cottonwood, Dakota, Dodge, Douglas, Faribault, Fillmore, Freeborn, Goodhue, Grant, Houston, Jackson, Kandiyohi, Kanabec, Lac qui Parle, Le Sueur, Lincoln, Lyon, McLeod, Martin, Meeker, Mille Lacs, Morrison, Mower, Murray, Nicollet, Noble, Olmsted, Pine, Pipestone, Pipe, Redwood, Renville, Rice, Rock, Schott, Sherburne, Sibley, Stearns, Steele, Stevens, Swift, Todd, Traverse, Wabasha, Waseca, Watonwan, Winona, Wright and Yellow Medicine.
Download this spreadsheet or view it in your browser.
*Corn Fertilizer is lowered by $20 credit to soybean budget and no credit for manure values.
Source: FINBIN Database of Farm Business Management Associations in Southern Minnesota
Download this spreadsheet or view it in your browser.
Source: FINBIN Database of Farm Business Management Associations in Southern Minnesota
Central Minnesota
The counties included in central Minnesota are Benton, Douglas, Kandiyohi, Meeker, Morrison, Otter Tail, Pope, Sherburne, Stearns and Todd.
Northwestern Minnesota
The counties included in northwest Minnesota are Becker, Clay, Clearwater, Kittson, Mahnomen, Marshall, Norman, Pennington, Polk and Red Lake.
Statewide budgets
No representation is intended for final production or cost figures. This budget should be used as a guide and for educational uses only. "Your Farm" data represents the budget items for your operation.
Machinery Costs include fuel, repairs, machine leases, custom hire, machinery depreciation, and intermediate interest costs.
Other Expenses include drying fuel, operating interest, hired labor, utilities, building depreciation, long-term interest and miscellaneous expenses.
No representation of FSA farm program payments is made in the estimated projection for ARC or PLC payments. These values vary widely between counties and years and are received at the end of the marketing year. (Ex: 2022 crop year payments were received in the fall of 2023 at the end of the 2022 crop marketing year.) Feel free to use a government payment value in the other income category in your estimate.
Estimated data and actual figures come from FINBIN at www.finbin.umn.edu. Data includes all irrigated corn acres in the state of Minnesota for each represented time period. This ensures a large enough data set.
Reviewed in 2024