The South Dakota State University Extension Service has posted its crop budget for 2020.

The downloadable spreadsheet is designed so you can plug your own costs, application rates, prices and yield to them.

There are three worksheets in the file. Each represents different regions of the state and different production levels. They are:

The budgets’ bottom lines show a return to land for four different crops: Corn, soybeans, spring wheat and winter wheat.

Jack Davis, SDSU Extension Farm management specialist, prepared the budget. The numbers he used show returns to land range from a high of $237 per acre for corn in the East and Central High Production area to a low of negative $48 per acre for spring wheat in the Central and West Low Production area.

To use the budgets for your farm, you should know your anticipated seeding rate and seed cost, the rate of fertilizer (nitrogen, potassium, phosphorous, sulfur etc.) that will be applied and the cost per unit for these items. The same information is needed for all pesticides (insecticides, herbicides and fungicides) that will be used, Davis says.

Other costs that need to be included are: crop insurance, fuel and oil, repairs, custom hire, drying, and interest rate.

The budgets can be used to help make risk and price management decisions, Davis says.

Source: SDSU, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.