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2003 WHEAT-SOYBEAN DOUBLE CROP BUDGET 1,2
    ITEM     EXPLANATION PRICE PER YIELD (bu/A)   YOUR     
UNIT BUDGET
                  45 60 75        
RECEIPTS 3
Wheat (grain only) $3.30 /bu $149 $198 $248  
Soybeans  20 bu 5.00 /bu 100 100 100  
         
TOTAL RECEIPTS 249 298 348  
VARIABLE  COSTS (WHEAT- GRAIN ONLY)
Seed 120 lbs 0.20 /lb 24 24 24  
Fertilizer 4
N (lbs.) 30 60 80 0.24 /lb 7 14 19  
P2O5(lbs) 50 60 70 0.24 /lb 12 14 17  
K2O(lbs) 90 95 100 0.13 /lb 12 12 13  
Lime(ton) 0.5 12 /ton 6 6 6  
Chemicals 5 7 7 7  
Trucking - Fuel Only 0.03 /bu 1 2 2  
Fuel, Oil, Grease 6 3 3 3  
Repairs 7 8 8 8  
Miscellaneous 8 12 13 14  
Int. on Oper. Cap. 9 8 mo. 9% 5 6 7  
Hired Labor 10 0 0 0  
VARIABLE COSTS (SOYBEANS)
Seed 80 lb. 0.40 /lb 32 32 32  
Chemicals 11 18 18 18  
Trucking - Fuel Only 0.03 bu 1 1 1  
Fuel, Oil, Grease 6 3 3 3  
Repairs 7 8 8 8  
Int. on Oper. Cap. 12 5 mo. 9.0% 2 2 2  
Hired Labor 10 0 0 0  
         
TOTAL VARIABLE COSTS -Per Acre 160 172 182  
FIXED COSTS
Labor Charge 10 3.5 hours 9.00 /hr 32 32 32  
Mach. And Equip. Charge 13 49 49 49  
Land Charge 14 50 70 90  
Management Charge 5% of gross revenue 12 15 17
         
TOTAL FIXED COSTS 143 166 188  
TOTAL COSTS -Per Acre 303 338 370  
RETURN ABOVE VARIABLE COSTS 89 126 166  
RETURN ABOVE TOTAL COSTS (54) (40) (22)  
RETURN TO LABOR AND MANAGEMENT 15       (10) 7 26        
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1 Does not include costs of storage.
2 Early harvest and drying of wheat followed closely by soybean planting with adequate soil moisture 
for germination are critical for successful double crop.  Soybeans are assumed to be Round-Up Ready.
3 Price received is estimated government loan rate for soybeans and wheat in Ohio.  Loan rates vary by county, 
check with your local FSA office for rates in your county.  No other government payments are included.
No returns are shown for straw.
4 Assumes only maintenance application of fertilizer for wheat and soybeans, soil test values of 20 ppm P/A and 150 ppm K/A. 
Prices were quoted in October, 2002.  Fertilizer prices vary over time and by area.  Check with local sources for current prices.
5 Based on use of 2,4-D and Banvel. Additional treatments may be needed to eliminate phytopora damping off.
6 See table below for specific calculations. Lubrication costs are assumed to be 15% of fuel costs.
7 See table below for specific calculations.
8 Includes supplies, utilities, soil tests, small tools, crop insurance, etc… 
9 Interest on all variable costs, except drying and trucking, for 8 months at 9% interest rate. 
10 Part or all of labor may be a variable cost if paid labor varies with acres farmed. 
It's a fixed cost if labor costs do not change with acres farmed. 
11 Based on use of Roundup and Select.
12 Interest on all variable costs, except drying and trucking, for 5 months at 9% interest rate. 
13 Reflects 1000 acres. See table below for specific calculations.
14 Average based on 1999 data.  Land charges vary throughout the state, check your local rates.
15 Return to labor and management is the revenue less total expenses except operator labor and management.
It is a measure of the returns to the operator's labor and management.
Machinery Inventory
Number times used Cost  Acres/   Hr Fuel*        ($/A) Repairs ($/A)
50 ft. Boom Sprayer 2 $5,500 25.6 0.22 0.20
15 Ft Grain Drill 2 $26,800 12.0 1.62 2.86
Combine w/ 20' head 2 $141,000 12.7 2.62 6.76
Gravity Grain Wagons 2 $7,000 1.20 0.84
Fertilizer Spreader 1 $10,400 23.80 0.11 0.23
160 HP Tractor $94,200 3.84
75 HP Tractor $30,300 1.14
Pickup Truck (1/2) $12,500   0.10 0.05
Total per Acre          327,700 5.87 15.92
Fixed Costs Rate 15%
Mach. And Equip Charge =   $49 Price of Diesel Fuel = $1.00 /gal
Machinery and Equipment Charge = Total Machine Inventory Cost x Fixed Costs Rate  / 1000 acres
=$327,700 x 15% / 1000 acres = $50/acre
Machines are all assumed to be new and in the first year of use.  Older/used machines will likely have lower 
machinery costs.  Size of operation will also effect cost of machinery per acre.  For an analysis on machine 
costs for different sized operations, see economies of scale budgets in this publication
Fixed costs rate includes depreciation, interest, housing, and insurance.
*Fuel calculations are based on the implement plus tractor.