How could using less fuel impact your farm business? How about limiting fertilizer applications? Figure these changes easily with University resources:
University of Illinois: The 2015 Illinois Crop Budgets are available through Department of Agricultural and Consumer Economics' farmdoc resource. Budgets are given for corn, soybeans, wheat, and double-crop soybeans grown in northern, central, and southern Illinois. Central Illinois is further divided into categories for high and low productivity farmland. Overall, 2015 returns are projected at the same levels as 2014 returns, which are considerably lower than returns from 2010 through 2013. These lower returns signal the need to reduce 2015 cash rents.
University of Nebraska: The 2015 Nebraska Crop Production Budgets offer the chance to examine and compare crop production costs for 14 crops and 69 systems. Developed by a team of ag economics, crop production, and pest management specialists, the budgets provide a framework for decision-making. They are provided in both PDF and Excel formats.
Iowa State University: The 2015 Estimated Costs of Crop Production in Iowa resources offer estimated costs of corn, corn silage, soybeans, alfalfa and pasture maintenance. Costs are based on data from several sources. They include the annual Iowa Farm Business Association record summaries, production and costs data from the Departments of Economics, Agricultural and Biosystems Engineering, and Agronomy at Iowa State University and a survey of selected agricultural cooperatives and other input suppliers around the state.
Ohio State University: See the 2015 OSU Extension Ohio Crop Enterprise Budgets. According to OSU's Barry Ward, crop input costs offer a mixed bag of change. Energy costs are predicted to be lower in 2015 and seed costs will range from modestly lower to modestly higher depending on seed company, genetic package and newness of hybrid or variety. Crop protection chemicals will likely follow the same pattern as most products will increase in price while some (generic glyphosate in particular) will decrease.
Purdue University: See the 2015 Purdue Crop Cost & Return Guide for more information on estimated per acre crop budgets for low, average and high productivity Indiana soils, as well as estimated per acre government payments, overhead costs.
University of Missouri: The 2015 Southeast Missouri Crop Budgets are for the major crops grown in Southeast Missouri — corn, soybeans, wheat, grain sorghum, cotton, rice, popcorn, and southern peas. They include irrigated, non-irrigated, Roundup Ready, Liberty Link, Conventional, no-till and double crop.
North Dakota State University: 2015 Projected Crop and Livestock Budgets - North Dakota regional crop budgets are created annually.
South Dakota State University: 2015 Crop Budgets offer ways to manage key input costs and develop marketing benchmarks.
Did we miss one? Let us know.
Consider these additional Farm Futures weekly review resources to keep an eye on inputs:
Weekly Energy Review
Weekly Energy Review