Field Crop Budgets For 2016 - University of Tennessee system...Daniel Morris Tim Campbell . Area...

AE 16-03

Field Crop Budgets For 2016

Field Crop Budgets For 2016

S. Aaron Smith Becky Bowling Assistant Professor Extension Specialist Agricultural & Resource Economics Agricultural & Resource Economics Samuel C. Danehower Area Specialist, Farm Management Agricultural & Resource Economics

Contributors

David Bilderback Dallas Manning Area Specialist, Farm Management Area Specialist, Farm Management Heather Young-Kelly Angela Thompson McClure Assistant Professor, Plant Pathology Associate Professor, Plant Sciences Scott D. Stewart Larry Steckel Professor, Entomology and Plant Pathology Professor, Plant Sciences Edward Burns Richard Buntin Extension Agent, Franklin County Extension Director, Crockett County Jeff Lannom Tyson Raper Extension Director, Weakley County Assistant Professor, Plant Sciences Daniel Morris Tim Campbell Area Specialist, Farm Management Extension Agent, Dyer County

TABLE OF CONTENTS

Introduction and Disclaimer 1

Budgets

Corn, No-Till, Non-Irrigated, 150 Bushels/Acre Yield 3

Corn, Conventional Tillage, Non-Irrigated, 150 Bushels/Acre Yield 6

Corn, No-Till, Irrigated, 225 Bushels/Acre Yield 9

Soybeans, No-Till, Non-Irrigated, 45 Bushels/Acre Yield 12

Soybeans, No-Till, Irrigated, 60 Bushels/Acre Yield 15

Wheat/Soybeans Double Cropped, Non-Irrigated, 60 Bushels/Acre

Yield and 35 Bushel/Acre Yield 18

Wheat, Conventional Tillage, Non-Irrigated, 60 Bushels/Acre Yield 21

Cotton, No-Till, Non-Irrigated, 875 lbs/Acre Yield 24

Cotton, Conventional Tillage, Non-Irrigated, 850 lbs/Acre Yield 27

Cotton, No-Till, Irrigated, 1,100 lbs/Acre Yield 30

Grain Sorghum, No-Till, Non-Irrigated, 90 Bushels/Acre Yield 33

Grain Sorghum, Conventional Tillage, Non-Irrigated, 90 Bushels/Acre Yield 36

Canola, Conventional Tillage, Non-Irrigated, 50 Bushels/Acre Yield 39

Appendices

Appendix 1: Input Summary Tables 42

Appendix 2: Field Operations Table 45

Appendix 3: Budget Summary 46

Introduction and Disclaimer

The 2016 Tennessee Row Crop Budgets were developed to assist producers and other agricultural decision makers to evaluate the returns of different row cropping alternatives. The budgets developed use production alternatives, management strategies, machinery, and inputs that are commonly utilized in row crop production in Tennessee. Given the diverse nature of row crop production in the state, it is impossible to account for all possible production scenarios and circumstances. As such, this guide should be utilized to assist decision makers in their annual planning efforts. To develop a custom budget for a specific field or operation, interested parties are strongly encouraged to use the University of Tennessee Extension’s Excel-based spreadsheet available online at: http://economics.ag.utk.edu/crop.html. The spreadsheet uses the same format as the budgets contained in this document; however, it allows the user to change yields, input quantities, input prices, machinery costs, and add additional costs that are specific to a field or enterprise. This allows users to adjust for region- and site-specific production methodology and input selections.

This publication and the accompanying Excel spreadsheet contain short-term planning

budgets for canola, corn, cotton, grain sorghum, soybean, and wheat enterprises. These budgets should be used for short-run or annual plans developed for 2016, as significant changes may occur from year-to-year in production methods and input and output prices.

The fertilizer recommendations in the crop budgets are generally for soils that have a

medium soil test. Farmers should have their soils tested in order to get maximum return for money spent for fertilizer. As crop programs are planned, the fertilizer applications can be adjusted to the soil test recommendations.

Disclaimer: Significant variability in inputs, prices, and production methods exist in the production of row crops. The information contained in this document relies on estimates and assumptions that are specific to Tennessee row-crop production. These budgets should not be construed as a reflection of all circumstances across the state, as significant regional variability will occur. To improve the accuracy, users are encouraged to use inputs, prices, and processes that are utilized on their specific farms in budget calculations.

Trade Names, Herbicides, Insecticides, and Pesticide Caution

Use of trade or brand names in this publication is for clarity and information: It does not imply approval of the product to the exclusion of others that may be of similar, suitable composition, nor does it guarantee or warrant the standard of the product.

The herbicide and insecticide programs used in these budgets are based on UT Extension publications titled “2016 Weed Control Manual for Tennessee” (PB1580) and “2016 Insect Control Recommendations for Field Crops” (PB1768). Pesticides recommended in the publication were registered for the prescribed uses when this manual was printed. Pesticide registrations are continuously being reviewed. Should registration of a recommended pesticide be canceled, it will no longer be recommended by The University of Tennessee.

1

http://economics.ag.utk.edu/crop.html

In order to protect people and the environment, pesticides should be used safely.

This is everyone’s responsibility, especially the user. Read and follow label directions carefully before you buy, mix, apply, store, or dispose of a pesticide. According to laws regulating pesticides, they must be used only as directed by the label.

No direct government program benefits are included in the budgets. Adjust the estimates as appropriate.

For additional information on the 2016 Tennessee Row Crop Budgets please contact:

Aaron Smith Assistant Professor

Department of Agricultural & Resource Economics 2621 Morgan Circle 325B Morgan Hall

Knoxville, TN 37996 Ph: 865-974-7476

E-mail: [email protected]

Or,

Becky Bowling Extension Specialist

Department of Agricultural & Resource Economics 2621 Morgan Circle

307 Morgan Hall Knoxville, TN 37996

Ph: 865-974-1895 E-mail: [email protected]

2

mailto:[email protected]

mailto:[email protected]

Unit Quantity Price Total Your FarmRevenue

Corn 1 Bu 150 $3.82 $573.00 _________$573.00 _________

Variable ExpensesSeed 2,3 Thous. 32 $3.13 $100.00 _________Fertilizer & Lime (Table 1.) Acre 1 $140.98 $140.98 _________Chemical (Table 2.) 3,4 Acre 1 $48.60 $48.60 _________Crop Scout or Consultant Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) Acre 1 $21.18 $21.18 _________Fuel, Oil & Filter (Table 3.) Acre 1 $8.72 $8.72 _________Operator Labor (Table 3.) Acre 1 $5.20 $5.20 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 150 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $13.84 $13.84 _________Operating Interest 7 % $442.51 6.00% $13.28 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$455.79 _________$117.21 _________

Fixed ExpensesMachinery 8

Capital Recovery (Table 3.) Acre 1 $41.13 $41.13 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor Acre 1 $15.00 $15.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$56.13 _________$61.08 _________

Yield (bu)

Variable Cost ($/bu)

Total Specified Cost ($/bu)

Price ($/bu)

100 $4.56 $5.12 $2.57110 $4.14 $4.65 $2.82120 $3.80 $4.27 $3.07130 $3.51 $3.94 $3.32140 $3.26 $3.66 $3.57150 $3.04 $3.41 $3.82160 $2.85 $3.20 $4.07170 $2.68 $3.01 $4.32180 $2.53 $2.84 $4.57190 $2.40 $2.69 $4.82200 $2.28 $2.56 $5.07

106

177 199

9590 101

106 119100 112

128 143119 134112 126

148 167137 154

Variable Cost (bu)Total Specified Cost

(bu)

162 182

Breakeven Yield for Selected Price

Return above Variable Expenses

Total Revenue

Total Fixed ExpensesReturn Above All Specified Expenses

2016 Corn, No-Till, Non-Irrigated Budget

Gross Revenue ($/Acre)

Total Variable Expenses

Breakeven Price for Selected Yield

3

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4

FOOTNOTES

3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.

5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.

8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.

6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of corn in Tennessee for the previous production year.

4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost. Cost will vary depending on the fungicide used and the application rate.

7) Operating interest is assumed to be charged on half of all variable expenses.

1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31, 2015, adjusted by monthly basis. 2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 32,000 seeds/acre. Seed treatment is included in the price.

5


Corn 1 Bu 150 $3.82 $573.00 _________$573.00 _________

Variable ExpensesSeed 2,3 Thous. 32 $3.13 $100.00 _________Fertilizer & Lime (Table 1.) Acre 1 $140.98 $140.98 _________Chemical (Table 2.) 3, 4 Acre 1 $37.90 $37.90 _________Crop Scout or Consultant Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) Acre 1 $28.12 $28.12 _________Fuel, Oil, & Filter (Table 3.) Acre 1 $12.38 $12.38 _________Operator Labor (Table 3.) Acre 1 $8.09 $8.09 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 150 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $13.84 $13.84 _________Operating Interest 7 % $445.31 6.00% $13.36 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$458.66 _________$114.34 _________



$60.75 _________$53.59 _________

Yield (bu)



Price ($/bu)

100 $4.59 $5.19 $2.57110 $4.17 $4.72 $2.82120 $3.82 $4.33 $3.07130 $3.53 $4.00 $3.32140 $3.28 $3.71 $3.57150 $3.06 $3.46 $3.82160 $2.87 $3.25 $4.07170 $2.70 $3.06 $4.32180 $2.55 $2.89 $4.57190 $2.41 $2.73 $4.82200 $2.29 $2.60 $5.07

2016 Corn, Conventional Tillage, Non-Irrigated Budget


Total Revenue

Return Above All Specified Expenses

Total Specified Cost (bu)

102

113 128120114108

136128120

149 169138 156

145

Total Variable ExpensesReturn above Variable Expenses

Total Fixed Expenses

Breakeven Price for Selected Yield Breakeven Yield for Selected Price

178163

202184

Variable Cost (bu)

1061009590

6

Tabl

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7

FOOTNOTES

Cost will vary depending on the fungicide used and the application rate.

8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery costestimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces ofmachinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for aspecific set of equipment, interested parties can utilize the Excel version of the budgets and modify the MachineryAssumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.

6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the averagepremium paid per insured acre of corn in Tennessee for the previous production year.

3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.

1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31,2015, adjusted by monthly basis.

5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differencesmay exist in cash rental rates reported by NASS and the prevailing rate in your location.


4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost.

2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 32,000seeds/acre. Seed treatment is included in the price.

8


Corn1 Bu 225 $3.82 $859.50 _________$859.50 _________

Variable ExpensesSeed 2,3 Thous. 35 $3.13 $109.38 _________Fertilizer & Lime (Table 1.) Acre 1 $186.22 $186.22 _________Chemical (Table 2.)3,4 Acre 1 $48.60 $48.60 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) Acre 1 $21.18 $21.18 _________Fuel, Oil & Filter (Table 3.) Acre 1 $8.72 $8.72 _________Operator Labor (Table 3.) Acre 1 $5.20 $5.20 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 225 $0.00 $0.00 _________Irrigation Energy Cost (Diesel) Ac-In 7.2 $2.90 $20.88 _________Irrigation System R&M Acre 1 $10.88 $10.88 _________Other Irrigation Costs Acre 1 $0.00 $0.00 _________Cash Rent 5 Acre 1 $165.00 $165.00 _________

Crop Insurance 6 Acre 1 $13.84 $13.84 _________

Operating Interest 7 % $595.89 6.00% $17.88 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$613.77 _________$245.73 _________


Capital Recovery (Table 3.) Acre 1 $41.13 $41.13 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Capital Recovery (Irrigation Equipment) 9 Acre 1 $87.81 $87.81 _________Other Fixed Irrigation Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor 10 Acre 2 $15.00 $30.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$158.94 _________$86.79 _________

Yield (bu)



Price ($/bu)

175 $3.51 $4.42 $2.57185 $3.32 $4.18 $2.82195 $3.15 $3.96 $3.07205 $2.99 $3.77 $3.32215 $2.85 $3.59 $3.57225 $2.73 $3.43 $3.82235 $2.61 $3.29 $4.07245 $2.51 $3.15 $4.32255 $2.41 $3.03 $4.57265 $2.32 $2.92 $4.82275 $2.23 $2.81 $5.07

160121 152127

Total Revenue

Total Variable ExpensesReturn Above Variable Expenses


169

161 202151 190142 179

2016 Corn, No-Till, Irrigated Budget


239 301218 274200 252185 233172

134

Breakeven Price For Selected Yield Breakeven Yield for Selected Price


(bu)

216

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

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($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

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osph

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00__

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00$1

5.00

____

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ther

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____

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Tabl

e 2.

Che

mic

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4

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Uni

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Qua

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oxon

e SL

oz.

140

$0.2

5$1

0.00

Surf

acta

ntpt

.1

0.2

$3.5

2$0

.70

Pre-

Emer

geAt

razin

e 4L

qt.

11

$3.6

0$3

.60

Gra

mox

one

SLoz

.1

40$0

.25

$10.

00Po

st-E

mer

geHa

lex

GT

pt.

13.

6$5

.25

$18.

90At

razin

e 4L

qt.

11.

5$3

.60

$5.4

0$0

.00

$0.0

0$0

.00

$0.0

0In

sect

icid

es$0

.00

$0.0

0$0

.00

$0.0

0

Fung

icid

es 4

$0.0

0$0

.00

Tota

l$4

8.60

Tabl

e 3.

Mac

hine

ry 8

Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lPl

ant

Trac

tor,

215

hpPl

ante

r16

-row

$6.4

6$3

.71

$1.0

0$0

.79

$11.

96W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

Harv

est

Com

bine

Corn

Hea

d8-

row

$13.

30$1

3.13

$4.3

0$1

.64

$32.

37Ha

ulTr

acto

r, 21

5 hp

Gra

in C

art

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3Ha

ulSe

mi T

ract

or/T

raile

r80

0 bu

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4O

ther

Oth

erTo

tal

$41.

13$2

1.18

$8.7

2$5

.20

$76.

23

Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_ Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

_

10

FOOTNOTES

8) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.9) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful life of 20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farm-specific applications.10) Management labor for irrigated acreage is assumed to be double that of dryland acres.

5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.

4) A foliar fungicide application may be used in some cropping systems at a cost of $15/acre plus application cost.

6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of corn in Tennessee for the previous production year.

Cost will vary depending on the fungicide used and the application rate.


1) Corn price was estimated using weighted average futures prices from September 2016 to July 2017 on December 31, 2015, adjusted by monthly basis. 2) Assumes a bag of seed costs $250 and contains 80,000 seeds ($3.13/thousand seeds). Seeding rate of 35,000 seeds/acre. Seed treatment is included in the price.3) Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.

11


Soybeans 1 Bu 45 $8.99 $404.55 _________$404.55 _________

Variable Expenses 2

Seed 3 Thous. 140 $0.36 $50.00 _________

Fertilizer & Lime (Table 1.) 4 Acre 1 $40.27 $40.27 _________Chemical (Table 2.) 5,6,7,8,9,10 Acre 1 $120.31 $120.31 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 11 Acre 1 $18.33 $18.33 _________Fuel, Oil & Filter (Table 3.) 11 Acre 1 $8.02 $8.02 _________Operator Labor (Table 3.) 11 Acre 1 $5.10 $5.10 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 45 $0.00 $0.00 _________Cash Rent 12 Acre 1 $98.00 $98.00 _________Crop Insurance 13 Acre 1 $8.97 $8.97 _________Operating Interest 14 % $355.00 6.00% $10.65 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$365.65 _________$38.90 _________

Fixed ExpensesMachinery 11 _________ Capital Recovery (Table 3.) Acre 1 $47.33 $47.33 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor Acre 1 $15.00 $15.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$62.33 _________-$23.43 _________

Yield (bu)



Price ($/bu)

25 $14.63 $17.12 $6.9930 $12.19 $14.27 $7.4935 $10.45 $12.23 $7.9940 $9.14 $10.70 $8.4945 $8.13 $9.51 $8.9950 $7.31 $8.56 $9.4955 $6.65 $7.78 $9.9960 $6.09 $7.13 $10.4965 $5.63 $6.58 $10.99


61

46 54


33 39

43 50


Variable Cost (bu)Total Specified

Cost (bu)52

35 41

2016 Soybean, No-Till, Non-Irrigated Budget



Total Revenue

49 57

41 4839 4537 43

12

Tabl

e 1.

Fer

tiliz

er &

Lim

e 4

Fert

ilize

r De

scrip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a0

$0.4

3$0

.00

____

____

_Ph

osph

orou

sP 2

O5

20$0

.56

$11.

20__

____

___

Pota

ssiu

mK 2

040

$0.3

5$1

4.07

____

____

_

Lim

e 4

Lim

esto

ne1,

000

$30.

00$1

5.00

____

____

_O

ther

0$0

.00

$0.0

0__

____

___

Tota

l$4

0.27

____

____

_

Tabl

e 2.

Che

mic

als 5,

6,7,

8,9,

10

Chem

ical

Func

tion

Desc

riptio

nU

nit

Num

ber o

f App

s.Q

uant

ityPr

ice

Tota

l ($/

Acre

)He

rbic

ides

Burn

dow

nRo

undu

p Po

wer

Max

qt.

11

$5.1

0$5

.10

Clar

ity 4

ECoz

.1

8$0

.72

$5.7

6Va

lor

oz.

12

$5.6

0$1

1.20

Pre-

Emer

geGr

amox

one

SLoz

.1

40$0

.25

$10.

00Bo

unda

rypt

.1

2$9

.45

$18.

90Po

st-E

mer

geFl

exst

ar G

Tpt

.1

3$4

.25

$12.

75Co

bra

oz.

112

$1.5

5$1

8.60

Post

-Em

erge

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0In

sect

icid

esac

re1

1$7

.00

$7.0

0In

sect

icid

e/Fu

ngic

ides

Seed

Tre

atm

ent

acre

11

$8.5

0$8

.50

Fung

icid

esac

re1

1$1

7.40

$17.

40To

tal

$120

.31

Tabl

e 3.

Mac

hine

ry 11 Po

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

irs &

Mai

nten

ance

Fuel

, Oil

& F

ilter

Labo

rTo

tal

Plan

tTr

acto

r, 21

5 hp

Plan

ter

16-r

ow$6

.46

$3.7

1$1

.00

$0.7

9$1

1.96

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Fert

ilize

Trac

tor,

215

hpFe

rtili

ze S

prea

der

900#

$1.6

5$2

.03

$1.0

6$0

.84

$5.5

8Ha

rves

tCo

mbi

neGr

ain

Head

30 ft

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Grai

n Ca

rt$2

.31

$1.0

6$0

.65

$0.5

2$4

.53

Haul

Sem

i Tra

ctor

/Tra

iler

800

bu$4

.83

$0.5

2$1

.16

$0.9

3$7

.44

Tota

l$4

7.33

$18.

33$8

.02

$5.1

0$7

8.79

____

____

_

____

____

_

____

____

_

Your

Far

m ($

/Acr

e)

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

13

FOOTNOTES


9) For an alternate control, use Gramoxone SL @1.25 quarts/acre plus a surfactant.10) Several other versions of Glyphosate, the active ingredient in Roundup Power Max, are available. Check label for concentration rates and registration on Roundup Ready Soybeans.

1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on December 31, 2015, adjusted by monthly basis.

6) Weed control chemicals should be selected for specific weed or grass problems that are present. Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.7) The addition of Dicamba @ 8oz./acre is necessary to manage Glyphosate resistant horseweed. This adds an additional $5.50/acre to the burndown spray cost.

4) Assumes 2 tons of lime applied every four years.5) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used.

8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.

2) Assumes a normal crop rotation with minimum weed infestation. A continuous soybean system may require additional expenses for chemicals and/or land preparation.

13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of soybeans in Tennessee for the previous production year.

11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.

3) Seed price includes technology fee.


Soybeans 1 Bu 60 $8.99 $539.40 _________$539.40 _________

Variable Expenses 2

Seed 3 Thous. 140 $0.36 $50.00 _________

Fertilizer & Lime (Table 1.) 4 Acre 1 $40.27 $40.27 _________

Chemical (Table 2.) 5,6,7,8,9,10 Acre 1 $120.31 $120.31 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 11 Acre 1 $18.33 $18.33 _________Fuel, Oil & Filter (Table 3.) 11 Acre 1 $8.02 $8.02 _________Operator Labor (Table 3.) 11 Acre 1 $5.10 $5.10 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 60 $0.00 $0.00 _________Irrigation Energy Cost (Diesel) Ac-In 7.2 $2.90 $20.88 _________Irrigation System R&M Acre 1 $10.88 $10.88 _________Other Irrigation Costs Acre 1 $0.00 $0.00 _________Cash Rent 12 Acre 1 $165.00 $165.00 _________Crop Insurance 13 Acre 1 $8.97 $8.97 _________

Operating Interest 14 % $453.76 6.00% $13.61 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$467.38 _________$72.02 _________


Capital Recovery (Table 3.) Acre 1 $47.33 $47.33 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Capital Recovery (Irrigation Equipment)15 Acre 1 $87.81 $87.81 _________Other Irrigation Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor 16 Acre 2 $15.00 $30.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$165.14 _________-$93.12 _________

Yield (bu)



Price ($/bu)

40 $11.68 $15.81 $6.9945 $10.39 $14.06 $7.4950 $9.35 $12.65 $7.9955 $8.50 $11.50 $8.4960 $7.79 $10.54 $8.9965 $7.19 $9.73 $9.4970 $6.68 $9.04 $9.9975 $6.23 $8.43 $10.4980 $5.84 $7.91 $10.99


706763

52494745


75798490

55

676258



(bu)

436058

2016 Soybean, No-Till, Irrigated Budget


Total Revenue

15

Tabl

e 1.

Fer

tiliz

er &

Lim

e 4

Fert

ilize

r De

scrip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a0

$0.4

3$0

.00

____

____

_Ph

osph

orou

sP 2

O5

20$0

.56

$11.

20__

____

___

Pota

ssiu

mK 2

040

$0.3

5$1

4.07

____

____

_

Lim

e 4

Lim

esto

ne1,

000

$30.

00$1

5.00

____

____

_O

ther

0$0

.00

$0.0

0__

____

___

Tota

l$4

0.27

____

____

_

Tabl

e 2.

Che

mic

als 5,

6,7,

8,9,

10

Chem

ical

Func

tion

Desc

riptio

nU

nit

Num

ber o

f App

s.Q

uant

ityPr

ice

Tota

l ($/

Acre

)He

rbic

ides

Burn

dow

nRo

undu

p Po

wer

Max

qt.

11

$5.1

0$5

.10

Clar

ity 4

ECoz

.1

8$0

.72

$5.7

6Pr

e-Em

erge

Valo

roz

.1

2$5

.60

$11.

20Gr

amox

one

SLoz

.1

40$0

.25

$10.

00Po

st-E

mer

geBo

unda

rypt

.1

2$9

.45

$18.

90Fl

exst

ar G

Tpt

.1

3$4

.25

$12.

75Po

st-E

mer

geCo

bra

oz.

112

$1.5

5$1

8.60

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0In

sect

icid

esac

re1

1$7

.00

$7.0

0In

sect

icid

e/Fu

ngic

ides

Seed

Tre

atm

ent

acre

11

$8.5

0$8

.50

Fung

icid

esac

re1

1$1

7.40

$17.

40To

tal

$120

.31

Tabl

e 3.

Mac

hine

ry 11 Po

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

irs &

Mai

nten

ance

Fuel

, Oil

& F

ilter

Labo

rTo

tal

Plan

tTr

acto

r, 21

5 hp

Plan

ter

16-r

ow$6

.46

$3.7

1$1

.00

$0.7

9$1

1.96

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Fert

ilize

Trac

tor,

215

hpFe

rtili

ze S

prea

der

900#

$1.6

5$2

.03

$1.0

6$0

.84

$5.5

8Ha

rves

tCo

mbi

neGr

ain

Head

30 ft

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Grai

n Ca

rt$2

.31

$1.0

6$0

.65

$0.5

2$4

.53

Haul

Sem

i Tra

ctor

/Tra

iler

800

bu$4

.83

$0.5

2$1

.16

$0.9

3$7

.44

Tota

l$4

7.33

$18.

33$8

.02

$5.1

0$7

8.79

Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

_

____

____

_Yo

ur F

arm

($/A

cre)

16

FOOTNOTES

16) Management labor for irrigated acreage is assumed to be double that of dryland acres.

10) Several other versions of Glyphosate, the active ingredient in Roundup Power Max, are available. Check label for concentration rates and registration on Roundup Ready Soybeans.11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of soybeans in Tennessee for the previous production year.

15) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful life of 20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farm-specific applications.


4) Assumes 2 tons of lime applied every four years.

1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on December 31, 2015, adjusted by monthly basis.

8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.9) For an alternate control, use Gramoxone SL @1.25 quarts/acre plus a surfactant.

5) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used.6) Weed control chemicals should be selected for specific weed or grass problems that are present. Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.7) The addition of Dicamba @ 8oz./acre is necessary to manage Glyphosate resistant horseweed. This adds an additional $5.50/acre to the burndown spray cost.

2) Assumes a normal crop rotation with minimum weed infestation. A continuous soybean system may require additional expenses for chemicals and/or land preparation.3) Seed price includes technology fee.

17


Soybeans 1 Bu 35 $8.99 $314.65 _________

Wheat 2 Bu 60 $4.70 $282.00 _________$596.65 _________

Variable Expenses 3

Seed, Soybeans 4 Thous. 140 $0.36 $50.00 _________

Seed, Wheat 4 Bu 2 $18.50 $37.00 _________Fertilizer & Lime (Table 1.) Acre 1 $115.30 $115.30 _________Chemical (Table 2.) 5,6,7,8,9,10 Acre 1 $112.74 $112.74 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 11 Acre 1 $45.18 $45.18 _________Fuel, Oil & Filter (Table 3.) 11 Acre 1 $19.33 $19.33 _________Operator Labor (Table 3.) 11 Acre 1 $12.78 $12.78 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 35 $0.00 $0.00 _________Cash Rent 12 Acre 1 $98.00 $98.00 _________Crop Insurance 13 Acre 1 $16.32 $16.32 _________Operating Interest 14 % $512.65 6.00% $15.38 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$528.03 _________$68.62 _________

Fixed Expenses

Machinery 11 _________ Capital Recovery (Table 3.) Acre 1 $83.58 $83.58 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor Acre 1 $15.00 $15.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$98.58 _________-$29.96 _________

Yield (bu)



Price ($/bu)

15 $17.60 $20.89 $6.9920 $13.20 $15.67 $7.4925 $10.56 $12.53 $7.9930 $8.80 $10.44 $8.4935 $7.54 $8.95 $8.9940 $6.60 $7.83 $9.4945 $5.87 $6.96 $9.9950 $5.28 $6.27 $10.4955 $4.80 $5.70 $10.99

Yield (bu)



Price ($/bu)

40 $6.60 $7.83 $2.7045 $5.87 $6.96 $3.2050 $5.28 $6.27 $3.7055 $4.80 $5.70 $4.2060 $4.40 $5.22 $4.7065 $4.06 $4.82 $5.2070 $3.77 $4.48 $5.7075 $3.52 $4.18 $6.2080 $3.30 $3.92 $6.70

Breakeven Price For Selected Wheat Yield 15

24

39 47

83 9871

43 51

56 6751 60

29

46 55


(bu)98 116

Breakeven Yield for Selected Wheat Price 15

45

3933

8563 75

26

312928

253130

33

3735

Total Revenue

42

2016 Wheat/Soybean Double Cropped, Non-Irrigated Budget



Breakeven Yield for Selected Soybean Price 15Breakeven Price For Selected Soybean Yield 15

35


(bu)38


18

Tabl

e 1.

Fer

tiliz

er &

Lim

e Fe

rtili

zer

Desc

riptio

nQ

uant

ity (l

bs)

Pric

e ($

)To

tal (

$/Ac

re)

Your

Far

m ($

/Acr

e)N

itrog

enAm

mon

ium

Nitr

ate

80$0

.57

$45.

60__

____

___

Phos

phor

ous

P 2O

560

$0.5

6$3

3.60

____

____

_Po

tass

ium

K 20

60$0

.35

$21.

10__

____

___

Lim

eLi

mes

tone

1,00

0$3

0.00

$15.

00__

____

___

Oth

er0

$0.0

0$0

.00

____

____

_To

tal

$115

.30

____

____

_

Tabl

e 2.

Che

mic

als 5,

6,7,

8,9,

10

Chem

ical

Func

tion

Desc

riptio

nU

nit

Num

ber o

f App

s.Q

uant

ityPr

ice

Tota

l ($/

Acre

)He

rbic

ides

-Bu

rndo

wn

Gram

oxon

e SL

oz.

140

$0.2

5$1

0.00

Soy

bean

sM

etrib

uzin

oz.

14

$0.8

6$3

.44

Post

-Em

erge

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0Fl

exst

ar G

Tpt

.1

3$4

.25

$12.

75He

rbic

ides

-Ha

rmon

y Ex

tra

oz.

10.

5$8

.00

$4.0

0 W

heat

Axia

l XL

oz.

116

.4$1

.07

$17.

55Su

rfac

tant

pt.

10.

1$3

.52

$0.3

5In

sect

icid

esW

heat

-see

d tr

eatm

ent

acre

11

$11.

00$1

1.00

Whe

at-F

olia

rac

re1

1$3

.00

$3.0

0So

ybea

nsac

re1

1$7

.00

$7.0

0Fu

ngic

ides

Soyb

eans

acre

11

$17.

40$1

7.40

Soyb

eans

-see

d tr

eatm

ent

acre

11

$3.7

5$3

.75

Whe

at-fo

liar

acre

11

$17.

40$1

7.40

Tota

l$1

12.7

4Ta

ble

3. M

achi

nery

11 Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lCh

isel

Trac

tor,

215

hpCh

isel P

low

21'

$1.9

0$2

.38

$1.4

5$1

.16

$6.8

8Di

skTr

acto

r, 21

5 hp

Tand

em D

isk29

'$4

.48

$2.5

9$1

.17

$0.9

3$9

.17

Prep

are

Seed

bed

Trac

tor,

215

hpCu

ltim

ulch

er20

'$2

.73

$3.0

0$1

.62

$1.2

9$8

.64

Plan

tTr

acto

r, 21

5 hp

Grai

n Dr

ill20

ft$4

.69

$7.2

6$1

.85

$1.4

7$1

5.27

Topd

ress

Trac

tor,

215

hpFe

rtili

ze S

prea

der

900#

$1.6

5$2

.03

$1.0

6$0

.84

$5.5

8Fu

ngic

ide

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8In

sect

Con

trol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8Ha

rves

tCo

mbi

neGr

ain

Head

30 ft

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Grai

n Ca

rt$2

.31

$1.0

6$0

.65

$0.5

2$4

.53

Haul

Sem

i Tra

ctor

/Tra

iler

800

bu$4

.83

$0.5

2$1

.16

$0.9

3$7

.44

Plan

tTr

acto

r, 21

5 hp

Plan

ter

16-r

ow$6

.46

$3.7

1$1

.00

$0.7

9$1

1.96

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Harv

est

Com

bine

Grai

n He

ad30

ft$1

1.11

$9.8

0$3

.23

$1.2

3$2

5.37

Haul

Trac

tor,

215

hpGr

ain

Cart

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3Ha

ulSe

mi T

ract

or/T

raile

r80

0 bu

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4To

tal

$83.

58$4

5.18

$19.

33$1

2.78

$160

.87

Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

Your

Far

m ($

/Acr

e)

19

FOOTNOTES1) Soybean price was estimated using weighted average futures prices from November 2016 to July 2017 on December 31, 2015, adjusted by monthly basis. 2) Wheat price was estimated using weighted average futures prices from July 2016 to May 2017 on December 31, 2015, adjusted by monthly basis.

4) Seed price includes technology fee.5) Additional seed treatment is to protect against Barley Yellow Dwarf Virus.6) Seed treatments, such as some nematicide treatments, are optional and costs vary depending on product used. Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.

3) Spraying for stinkbugs may add $2.50/acre per spraying, plus application expenses.

13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of soybeans and wheat in Tennessee for the previous production year.

15) Estimated breakeven yields and prices assume that half of variable and total specified costs are incurred for each commodity. When estimating soybean breakeven, wheat yield/price are held constant at 60 bu/acre and $4.70/bu. When estimating wheat breakeven, soybean yield and price are held constant at 35 bu/acre and $8.99/bu.

10) If using Liberty Link soybeans, replace Flexstar GT with Liberty herbicide.11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.

7) Several other versions of Glyphosate, the active ingredient in Roundup Original Max, are available. Check label for concentration rates and registration on Roundup Ready Soybeans.8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.9) Cost may vary depending on fungicide used and application rate per acre.



Wheat1 Bu 60 $4.70 $282.00 _________$282.00 _________

Variable ExpensesSeed 2 Bu 2 $18.50 $37.00 _________Fertilizer & Lime (Table 1.) Acre 1 $83.63 $83.63 _________Chemical (Table 2.) 2,3 Acre 1 $78.80 $78.80 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 4 Acre 1 $28.82 $28.82 _________Fuel, Oil & Filter (Table 3.) 4 Acre 1 $12.53 $12.53 _________Operator Labor (Table 3.) 4 Acre 1 $8.68 $8.68 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 60 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $7.35 $7.35 _________Operating Interest 7 % $360.82 6.00% $10.82 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$371.64 _________-$89.64 _________



$65.17 _________-$154.82 _________

Yield (bu)



Price ($/bu)

40 $9.29 $10.92 $3.7045 $8.26 $9.71 $3.9550 $7.43 $8.74 $4.2055 $6.76 $7.94 $4.4560 $6.19 $7.28 $4.7065 $5.72 $6.72 $4.9570 $5.31 $6.24 $5.2075 $4.96 $5.82 $5.4580 $4.65 $5.46 $5.70 65 77


(bu)100 11894 11188 10484 9879

68 80

2016 Wheat, Conventional Tillage, Non-Irrigated Budget


Total Revenue

71 84





9375 88

21

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Desc

riptio

nQ

uant

ity (l

bs)

Pric

e ($

)To

tal (

$/Ac

re)

Your

Far

m ($

/Acr

e)N

itrog

enAm

mon

ium

Nitr

ate

80$0

.57

$45.

60__

____

___

Phos

phor

ous

P 2O

540

$0.4

0$1

6.00

____

____

_Po

tass

ium

K2 020

$0.3

5$7

.03

____

____

_Li

me

Lim

esto

ne1,

000

$30.

000

$15.

00__

____

___

Oth

er0

$0.0

0$0

.00

____

____

_To

tal

$83.

63__

____

___

Tabl

e 2.

Che

mic

als2,

3

Chem

ical

Func

tion

Desc

riptio

nU

nit

Num

ber o

f App

s.Q

uant

ityPr

ice

Tota

l ($/

Acre

)He

rbic

ides

Burn

dow

nGr

amox

one

SLoz

.1

48$0

.25

$12.

00Pr

e-Em

erge

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0Po

st-E

mer

geHa

rmon

y Ex

tra

oz.

10.

5$8

.00

$4.0

0Ax

ial X

Loz

.1

16.4

$1.0

7$1

7.55

Surf

acta

ntpt

.1

0.1

$3.5

2$0

.35

$0.0

0In

sect

icid

esSe

ed T

reat

men

tac

re1

1$1

1.00

$11.

00In

sect

icid

esFo

liar

acre

11

$3.0

0$3

.00

Fung

icid

esSe

ed T

reat

men

tac

re1

1$8

.40

$8.4

0Fu

ngic

ides

Folia

rac

re1

1$1

7.40

$17.

40To

tal

$78.

80Ta

ble

3. M

achi

nery

4 Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lBu

rndo

wn

SP B

oom

Spr

ayer

90'

$6.4

6$3

.71

$1.0

0$0

.79

$11.

96Ch

isel

Trac

tor,

215

hpCh

isel P

low

21'

$1.9

0$2

.38

$1.4

5$1

.16

$6.8

8Di

skTr

acto

r, 21

5 hp

Tand

em D

isk29

'$4

.48

$2.5

9$1

.17

$0.9

3$9

.17

Prep

are

Seed

bed

Trac

tor,

215

hpDo

-All

26.5

'$2

.43

$2.2

1$1

.22

$0.9

7$6

.84

Plan

tTr

acto

r, 21

5 hp

Grai

n Dr

ill20

ft$4

.69

$7.2

6$1

.85

$1.4

7$1

5.27

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Inse

ctic

ides

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

Inse

ct C

ontr

olSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Harv

est

Com

bine

Grai

n He

ad30

ft$1

1.11

$9.8

0$3

.23

$1.2

3$2

5.37

Haul

Trac

tor,

215

hpGr

ain

Cart

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3

Haul

Sem

i Tra

ctor

/Tra

iler

800

bu$4

.83

$0.5

2$1

.16

$0.9

3$7

.44

Tota

l$5

0.17

$28.

82$1

2.53

$8.6

8$1

00.2

1

Your

Far

m ($

/Acr

e) ____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

_

____

____

___

____

___

Your

Far

m ($

/Acr

e)

____

____

___

____

___

____

____

_

____

____

_

____

____

_

____

____

___

____

___

____

____

_

____

____

_

____

____

_

____

____

_

22

FOOTNOTES1) Wheat price was estimated using weighted average futures prices from July 2016 to May 2017 on December 31, 2015, adjusted by monthly basis. If a market for straw is available, add an appropriate amount to return to land, management, and risk, based on the expected yield and price of the straw, less harvest and marketing costs.


2) Additional seed treatment is to protect against Barley Yellow Dwarf virus.3) Cost may vary depending on fungicide used and application rate per acre.4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of wheat in Tennessee for the previous production year.

23


Cotton1,2,3 lb 875 $0.70 $612.50 _________$612.50 _________

Variable ExpensesSeed4 Thous. 48.15 $2.02 $97.38 _________Tech Fee5 Thous. 0 $1.22 $0.00 _________Fertilizer & Lime (Table 1.) Acre 1 $110.97 $110.97 _________Chemical (Table 2.) 6,7,8,9,10 Acre 1 $144.42 $144.42 _________Crop Scout Acre 1 $9.50 $9.50 _________Repair & Maintenance (Table 3.) 11 Acre 1 $23.87 $23.87 _________

Fuel, Oil & Filter (Table 3.) 11 Acre 1 $11.96 $11.96 _________Operator Labor (Table 3.) 11 Acre 1 $6.88 $6.88 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Other Transportation Costs Acre 1 $0.00 $0.00 _________Cash Rent 12 Acre 1 $98.00 $98.00 _________Crop Insurance 13 Acre 1 $7.02 $7.02 _________Operating Interest 14 % $510.01 6.00% $15.30 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$525.31 _________$87.19 _________



$126.29 _________-$39.09 _________

Yield (lb) Variable Cost ($/lb)Total Specified Cost

($/lb)Price ($/lb)

625 $0.84 $1.04 $0.45675 $0.78 $0.97 $0.50725 $0.72 $0.90 $0.55775 $0.68 $0.84 $0.60825 $0.64 $0.79 $0.65875 $0.60 $0.74 $0.70925 $0.57 $0.70 $0.75975 $0.54 $0.67 $0.80

1,025 $0.51 $0.64 $0.851,075 $0.49 $0.61 $0.901,125 $0.47 $0.58 $0.95



686553584 724

808 1,002750 931700 869

Total Revenue


2016 Cotton, No-Till, Non-Irrigated Budget


Variable Cost (lb)Total Specified Cost

(lb)1,167

876 1,086

1,051 1,303955 1,185

657

1,448

814618 767

24

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a80

$0.4

3$3

4.52

____

____

_Ph

osph

orou

sP 2

O5

60$0

.40

$24.

00__

____

___

Pota

ssiu

mK 2

090

$0.3

5$3

1.65

____

____

_

Sulfu

r 15El

emen

tal

10$0

.33

$3.3

0__

____

___

Boro

n0.

5$5

.00

$2.5

0__

____

___

Lim

eLi

mes

tone

1,00

0$3

0.00

$15.

00__

____

___

Oth

er0

$0.0

0$0

.00

____

____

_To

tal

$110

.97

____

____

_

Tabl

e 2.

Che

mic

als6,

7,8,

9,10

Chem

ical

Func

tion

Des

crip

tion

Uni

tN

umbe

r of A

pps.

Qua

ntity

Pric

eTo

tal (

$/Ac

re)

Herb

icid

esBu

rndo

wn

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0__

____

___

Burn

dow

nCl

arity

4EC

oz.

18

$0.7

2$5

.76

____

____

_Pr

e-Em

erge

Coto

ran

4Lpt

.1

2$5

.75

$11.

50__

____

___

Ove

r The

Top

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0__

____

___

Ove

r The

Top

Dual

Mag

num

pt.

11

$10.

00$1

0.00

____

____

_Li

bert

y 28

0 SL

oz.

229

$0.6

2$3

5.96

____

____

_Ho

oded

Spr

ayer

Surf

acta

ntpt

.1

0.2

$3.5

2$0

.70

____

____

_Va

lor

oz.

11

$5.6

0$5

.60

____

____

_$0

.00

____

____

_G

row

th R

egul

ator

Mep

ex (M

epiq

uat C

hlor

ide)

pt.

12

$1.0

0$2

.00

____

____

_De

folia

ntoz

.1

12$0

.48

$5.7

6__

____

___

Boll

Ope

ner

Ethe

phon

oz.

132

$0.1

7$5

.44

____

____

_In

sect

icid

esSe

ed T

reat

men

tac

re1

1$9

.00

$9.0

0__

____

___

In-S

easo

nac

re1

1$3

5.00

$35.

00__

____

___

Fung

icid

esSe

ed T

reat

men

tac

re1

1$7

.50

$7.5

0__

____

___

Tota

l$1

44.4

2__

____

___

Tabl

e 3.

Mac

hine

ry 11 Po

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

irs &

Mai

nten

ance

Fuel

, Oil

& F

ilter

Labo

rTo

tal

Chop

Sta

lks

Trac

tor,

215

hpRo

tary

Mow

er15

'$3

.50

$3.6

8$1

.54

$1.2

3$9

.95

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Plan

tTr

acto

r, 21

5 hp

Plan

ter

12-r

ow$7

.25

$3.7

6$1

.33

$1.0

6$1

3.40

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_

Wee

d Co

ntro

lTr

acto

r, 21

5 hp

Hood

ed S

pray

er$7

.55

$1.0

7$0

.37

$0.2

9$9

.29

____

____

_Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Harv

est

Pick

er/M

odul

e Bu

ilder

(Rou

nd)

6-ro

w$6

0.51

$11.

45$5

.38

$1.5

6$7

8.90

____

____

_Ha

rves

tTr

acto

r, 21

5 hp

Mod

ule

Hand

ler

$1.4

6$0

.17

$0.9

8$0

.78

$3.3

9__

____

___

Oth

er$0

.00

$0.0

0$0

.00

$0.0

0$0

.00

____

____

_O

ther

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0__

____

___

Tota

l$1

11.2

9$2

3.87

$11.

96$6

.88

$153

.99

____

____

_

Your

Far

m ($

/Acr

e)

Your

Far

m ($

/Acr

e)

25

FOOTNOTES

15) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur iscommonly applied at a rate of 10-15 lbs/acre.

4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set attime of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety andherbicides applied.


11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery costestimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces ofmachinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for aspecific set of equipment, interested parties can utilize the Excel version of the budgets and modify the MachineryAssumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantialdifferences may exist in cash rental rates reported by NASS and the prevailing rate in your location.13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the averagepremium paid per insured acre of cotton in Tennessee for the previous production year.

9) Do not tank mix dual magnum and liberty when applying on widestrike cotton.

6) Additional sprays may be necessary for specific insects.7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs, bollworm,and other insect pests.8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.

2) A second harvest may add as much as $25/acre to variable costs.1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.

3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.

10) Use alternative chemicals on non-liberty tolerant cotton varieties.

5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.


Cotton1,2,3 lb 850 $0.70 $595.00 _________$595.00 _________

Variable ExpensesSeed4 Thous. 48.15 $2.02 $97.38 _________Tech Fee5 Thous. 0 $1.22 $0.00 _________Fertilizer & Lime (Table 1.) Acre 1 $110.97 $110.97 _________Chemical (Table 2.) 6,7,8,9,10 Acre 1 $133.56 $133.56 _________Crop Scout Acre 1 $9.50 $9.50 _________Repair & Maintenance (Table 3.) 11 Acre 1 $34.43 $34.43 _________Fuel, Oil & Filter (Table 3.) 11 Acre 1 $17.37 $17.37 _________Operator Labor (Table 3.) 11 Acre 1 $11.18 $11.18 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Other Transportation Costs Acre 1 $0.00 $0.00 _________Cash Rent 12 Acre 1 $98.00 $98.00 _________Crop Insurance 13 Acre 1 $7.02 $7.02 _________Operating Interest 14 % $519.42 6.00% $15.58 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$535.01 _________$59.99 _________



$139.88 _________-$79.88 _________


($/lb)Price ($/lb)

600 $0.89 $1.12 $0.45650 $0.82 $1.04 $0.50700 $0.76 $0.96 $0.55750 $0.71 $0.90 $0.60800 $0.67 $0.84 $0.65850 $0.63 $0.79 $0.70900 $0.59 $0.75 $0.75950 $0.56 $0.71 $0.80

1,000 $0.54 $0.67 $0.851,050 $0.51 $0.64 $0.901,100 $0.49 $0.61 $0.95

2016 Cotton, Conventional Tillage, Non-Irrigated Budget


Total Revenue

Return Above Variable ExpensesTotal Variable Expenses

1,227


Variable Cost (lb)



Total Specified Cost (lb)

1,500

900713844794

1,189

669629

892 1,125823 1,038764 964

1,070 1,350973

710594563

750

27

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a80

$0.4

3$3

4.52

____

____

_Ph

osph

orou

sP 2

O5

60$0

.40

$24.

00__

____

___

Pota

ssiu

mK 2

090

$0.3

5$3

1.65

____

____

_

Sulfu

r 15El

emen

tal

10$0

.33

$3.3

0__

____

___

Boro

n0.

5$5

.00

$2.5

0__

____

___

Lim

eLi

mes

tone

1,00

0$3

0.00

$15.

00__

____

___

Oth

er0

$0.0

0$0

.00

____

____

_To

tal

$110

.97

____

____

_

Tabl

e 2.

Che

mic

als6,

7,8,

9,10

Chem

ical

Func

tion

Des

crip

tion

Uni

tN

umbe

r of A

pps.

Qua

ntity

Pric

eTo

tal (

$/Ac

re)

Herb

icid

esPr

e-Em

erge

Coto

ran

4Lpt

.1

2$5

.75

$11.

50__

____

___

Ove

r The

Top

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0__

____

___

Ove

r The

Top

Dual

Mag

num

pt.

11

$10.

00$1

0.00

____

____

_Li

bert

y 28

0 SL

oz.

229

$0.6

2$3

5.96

____

____

_Ho

oded

Spr

ayer

Surf

acta

ntpt

.1

0.2

$3.5

2$0

.70

____

____

_Va

lor

oz.

11

$5.6

0$5

.60

____

____

_$0

.00

____

____

_G

row

th R

egul

ator

Mep

ex (M

epiq

uat C

hlor

ide)

pt.

12

$1.0

0$2

.00

____

____

_De

folia

ntoz

.1

12$0

.48

$5.7

6__

____

___

Boll

Ope

ner

Ethe

phon

oz.

132

$0.1

7$5

.44

____

____

_In

sect

icid

esSe

ed T

reat

men

tac

re1

1$9

.00

$9.0

0__

____

___

In-S

easo

nac

re1

1$3

5.00

$35.

00__

____

___

Fung

icid

esSe

ed T

reat

men

tac

re1

1$7

.50

$7.5

0__

____

___

Tota

l$1

33.5

6__

____

___

Tabl

e 3.

Mac

hine

ry 1

1 Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lCh

op S

talk

sTr

acto

r, 21

5 hp

Rota

ry M

ower

15'

$3.5

0$3

.68

$1.5

4$1

.23

$9.9

5__

____

___

Chise

lTr

acto

r, 21

5 hp

Chise

l Plo

w21

'$1

.90

$2.3

8$1

.45

$1.1

6$6

.88

____

____

_Di

skTr

acto

r, 21

5 hp

Tand

em D

isk29

'$4

.48

$2.5

9$1

.17

$0.9

3$9

.17

____

____

_Di

skTr

acto

r, 21

5 hp

Tand

em D

isk29

'$4

.48

$2.5

9$1

.17

$0.9

3$9

.17

____

____

_Pr

epar

e Se

edbe

dTr

acto

r, 21

5 hp

Culti

mul

cher

20'

$2.7

3$3

.00

$1.6

2$1

.29

$8.6

4__

____

___

Fert

ilize

Trac

tor,

215

hpFe

rtili

ze S

prea

der

900#

$1.6

5$2

.03

$1.0

6$0

.84

$5.5

8__

____

___

Plan

tTr

acto

r, 21

5 hp

Plan

ter

12-r

ow$7

.25

$3.7

6$1

.33

$1.0

6$1

3.40

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Wee

d Co

ntro

lTr

acto

r, 21

5 hp

Hood

ed S

pray

er$7

.55

$1.0

7$0

.37

$0.2

9$9

.29

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Appl

y M

epex

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Appl

y M

epex

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Defo

liant

/Bol

l Ope

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Harv

est

Pick

er/M

odul

e Bu

ilder

(Rou

nd)

6-ro

w$6

0.51

$11.

45$5

.38

$1.5

6$7

8.90

____

____

_Ha

rves

tTr

acto

r, 21

5 hp

Mod

ule

Hand

ler

$1.4

6$0

.17

$0.9

8$0

.78

$3.3

9__

____

___

Oth

er$0

.00

$0.0

0$0

.00

$0.0

0$0

.00

____

____

_O

ther

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0__

____

___

Tota

l$1

24.8

8$3

4.43

$17.

37$1

1.18

$187

.86

____

____

_

Your

Far

m ($

/Acr

e)

Your

Far

m ($

/Acr

e)

28

FOOTNOTES

5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.

4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set at time of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.

3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.2) A second harvest may add as much as $25/acre to variable costs.1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.

15) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur is commonly applied at a rate of 10-15 lbs/acre.

11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of cotton in Tennessee for the previous production year.14) Operating interest is assumed to be charged on half of all variable expenses.

9) Do not tank mix dual magnum and liberty when applying on widestrike cotton.8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.

7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs, bollworm, and other insect pests.

6) Additional sprays may be necessary for specific insects.

10) Use alternative chemicals on non-liberty tolerant cotton varieties.

29


Cotton1,2,3 lb 1,100 $0.70 $770.00 _________$770.00 _________

Variable ExpensesSeed4 Thous. 48.15 $2.02 $97.38 _________Tech Fee5 Thous. 0 $1.22 $0.00 _________Fertilizer & Lime (Table 1.) Acre 1 $115.29 $115.29 _________Chemical (Table 2.) 6,7,8,9,10 Acre 1 $144.42 $144.42 _________Crop Scout Acre 1 $9.50 $9.50 _________Repair & Maintenance (Table 3.) 11 Acre 1 $26.48 $26.48 _________Fuel, Oil & Filter (Table 3.) 11 Acre 1 $13.14 $13.14 _________Operator Labor (Table 3.) 11 Acre 1 $7.81 $7.81 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Irrigation Energy Cost Ac-In 7.2 $2.90 $20.88 _________Irrigation System R&M Acre 1 $10.88 $10.88 _________Other Irrigation Costs Acre 1 $0.00 $0.00 _________Cash Rent 12 Acre 1 $165.00 $165.00 _________Crop Insurance 13 Acre 1 $7.02 $7.02 _________Operating Interest 14 % $617.80 6.00% $18.53 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$636.33 _________$133.67 _________


Capital Recovery (Table 3.) Acre 1 $107.24 $107.24 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Capital Recovery (Irrigation Equipment) 15 Acre 1 $87.81 $87.81 _________Other Irrigation Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor 16 Acre 2 $15.00 $30.00 _________Other Fixed Costs Acre 1 $0.00 $0.00 _________

$225.05 _________-$91.38 _________


($/lb)Price ($/lb)

850 $0.75 $1.01 $0.45900 $0.71 $0.96 $0.50950 $0.67 $0.91 $0.55

1,000 $0.64 $0.86 $0.601,050 $0.61 $0.82 $0.651,100 $0.58 $0.78 $0.701,150 $0.55 $0.75 $0.751,200 $0.53 $0.72 $0.801,250 $0.51 $0.69 $0.851,300 $0.49 $0.66 $0.901,350 $0.47 $0.64 $0.95

795

1,273 1,723

1,149

907670

1,077749 1,013707 957

848

2016 Cotton, No-Till, Irrigated Budget


Total Revenue



Variable Cost (lb)


1,9141,414

Total Specified Cost (lb)

909 1,231

1,157 1,5661,061 1,436979 1,325

30

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a90

$0.4

3$3

8.84

____

____

_Ph

osph

orou

sP 2

O5

60$0

.40

$24.

00__

____

___

Pota

ssiu

mK 2

090

$0.3

5$3

1.65

____

____

_

Sulfu

r 17El

emen

tal

10$0

.33

$3.3

0__

____

___

Boro

n0.

5$5

.00

$2.5

0__

____

___

Lim

eLi

mes

tone

1,00

0$3

0.00

$15.

00__

____

___

Oth

er0

$0.0

0$0

.00

____

____

_To

tal

$115

.29

____

____

_

Tabl

e 2.

Che

mic

als6,

7,8,

9,10

Chem

ical

Func

tion

Des

crip

tion

Uni

tN

umbe

r of A

pps.

Qua

ntity

Pric

eTo

tal (

$/Ac

re)

Herb

icid

esBu

rndo

wn

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0__

____

___

Burn

dow

nCl

arity

EC

oz.

18

$0.7

2$5

.76

____

____

_Pr

e-Em

erge

Coto

ran

4Lpt

.1

2$5

.75

$11.

50__

____

___

Ove

r The

Top

Roun

dup

Pow

er M

axqt

.1

1$5

.10

$5.1

0__

____

___

Ove

r The

Top

Dual

Mag

num

pt.

11

$10.

00$1

0.00

____

____

_Li

bert

y 28

0 SL

oz.

229

$0.6

2$3

5.96

____

____

_Ho

oded

Spr

ayer

Surf

acta

ntpt

.1

0.2

$3.5

2$0

.70

____

____

_Va

lor

oz.

11

$5.6

0$5

.60

____

____

_$0

.00

____

____

_G

row

th R

egul

ator

Mep

ex (M

epiq

uat C

hlor

ide)

pt.

12

$1.0

0$2

.00

____

____

_De

folia

ntoz

.1

12$0

.48

$5.7

6__

____

___

Boll

Ope

ner

Ethe

phon

oz.

132

$0.1

7$5

.44

____

____

_In

sect

icid

esSe

ed T

reat

men

tac

re1

1$9

.00

$9.0

0__

____

___

In-S

easo

nac

re1

1$3

5.00

$35.

00__

____

___

Fung

icid

esSe

ed T

reat

men

tac

re1

1$7

.50

$7.5

0__

____

___

Tota

l$1

44.4

2__

____

___

Tabl

e 3.

Mac

hine

ry 11 Po

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

irs &

Mai

nten

ance

Fuel

, Oil

& F

ilter

Labo

rTo

tal

Chop

Sta

lks

Trac

tor,

215

hpRo

tary

Mow

er15

'$3

.50

$3.6

8$1

.54

$1.2

3$9

.95

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Plan

tTr

acto

r, 21

5 hp

Plan

ter

12-r

ow$7

.25

$3.7

6$1

.33

$1.0

6$1

3.40

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8__

____

___

Wee

d Co

ntro

lTr

acto

r, 21

5 hp

Hood

ed S

pray

er$3

.50

$3.6

8$1

.54

$1.2

3$9

.95

____

____

_Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

____

____

_Ha

rves

tPi

cker

/Mod

ule

Build

er (R

ound

)6-

row

$60.

51$1

1.45

$5.3

8$1

.56

$78.

90__

____

___

Harv

est

Trac

tor,

215

hpM

odul

e Ha

ndle

r$1

.46

$0.1

7$0

.98

$0.7

8$3

.39

____

____

_O

ther

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0__

____

___

Oth

er$0

.00

$0.0

0$0

.00

$0.0

0$0

.00

____

____

_To

tal

$107

.24

$26.

48$1

3.14

$7.8

1$1

54.6

6__

____

___

Your

Far

m ($

/Acr

e)

Your

Far

m ($

/Acr

e)

31

FOOTNOTES

10) Use alternative chemicals on non-Liberty tolerant cotton varieties.

1) Most ginning arrangements provide producers cottonseed revenue net ginning costs.2) A second harvest may add as much as $25/acre to variable costs.

17) Current University of Tennessee recommendations do not include sulfur. However, in west Tennessee, sulfur is commonly applied at a rate of 10-15 lbs/acre.

15) Irrigation costs are estimated using the following assumptions: purchase price and installation cost of $80,000; useful life of 20 years; and an irrigated acreage of 125 acres. Irrigation rates should be adjusted to meet commodity- and farm-specific applications.16) Management labor for irrigated acreage is assumed to be double that of dryland acres.

11) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.12) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.13) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of cotton in Tennessee for the previous production year. 14) Operating interest is assumed to be charged on half of all variable expenses.

9) Do not tank mix Dual Magnum and Liberty when applying on widestrike cotton.

6) Additional sprays may be necessary for specific insects.

4) Includes tech fees. Assumes 3.5 seeds per foot. Seed cost varies per variety and seed size. Tech fees had not been set at time of printing and are estimates. Check with farm suppliers for rebates and incentives based on seed variety and herbicides applied.5) Tech fees have been included in seed cost. Seed and tech fees can be separated at the users discretion.

7) In-season per-acre cost includes boll weevil eradication fees and chemical expenses for control of plant bugs, bollworm, and other insect pests.8) Due to prevalence of Glyphosate resistant weeds, if weeds are not controlled, hand chopping may be necessary.

3) Cotton price estimate includes the loan rate plus an estimated loan equity payment and seed and hauling allowance.

32


Grain Sorghum1 Bu 90 $3.72 $334.80 _________$334.80 _________

Variable ExpensesSeed 2 Thous. 85 $0.24 $20.19 _________Fertilizer & Lime (Table 1.) Acre 1 $91.42 $91.42 _________Chemical (Table 2.) 3 Acre 1 $77.11 $77.11 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 4 Acre 1 $18.33 $18.33 _________Fuel, Oil & Filter (Table 3.) 4 Acre 1 $8.02 $8.02 _________Operator Labor (Table 3.) 4 Acre 1 $5.10 $5.10 _________Machinery Rental Acre 0 $0.00 $0.00 _________Custom Work Acre 0 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 90 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $3.67 $3.67 _________Operating Interest 7 % $327.84 6.00% $9.84 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$337.68 _________-$2.88 _________



$62.33 _________-$65.21 _________

Yield (bu)



Price ($/bu)

70 $4.82 $5.71 $3.5275 $4.50 $5.33 $3.5780 $4.22 $5.00 $3.6285 $3.97 $4.71 $3.6790 $3.75 $4.44 $3.7295 $3.55 $4.21 $3.77

100 $3.38 $4.00 $3.82105 $3.22 $3.81 $3.87110 $3.07 $3.64 $3.92

90 10688 10587 10386 102

2016 Grain Sorghum, No-Till, Non-Irrigated Budget


Total Revenue

91 108


95 112


Breakeven Price For Selected Yield Breakeven Yield for Selected PriceTotal Specified Cost

(bu)Variable Cost (bu)

96 114

93 11092 109

33

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a90

$0.4

3$3

8.84

____

____

_Ph

osph

orou

sP 2

O5

50$0

.40

$20.

00__

____

___

Pota

ssiu

mK 2

050

$0.3

5$1

7.58

____

____

_Li

me

Lim

esto

ne1,

000

$30.

00$1

5.00

____

____

_O

ther

0$0

.00

$0.0

0__

____

___

Tota

l$9

1.42

____

____

_Ta

ble

2. C

hem

ical

s3

Chem

ical

Func

tion

Des

crip

tion

Uni

tN

umbe

r of A

pps.

Qua

ntity

Pric

eTo

tal (

$/Ac

re)

Herb

icid

esBu

rndo

wn

Gra

mox

one

SLoz

.1

40$0

.25

$10.

00Su

rfac

tant

pt.

10.

2$3

.52

$0.7

0Pr

e-Em

erge

Bice

p II

Mag

num

qt.

12.

1$1

2.62

$26.

50At

razin

e 4L

oz.

111

.84

$0.1

1$1

.30

Crop

Oil

pt.

12

$3.2

5$6

.50

Post

-Em

erge

Atra

zine

4Lqt

.1

1$3

.60

$3.6

0In

sect

icid

esSe

ed T

reat

men

tac

re1

1$7

.50

$7.5

0Fo

liar

acre

11

$10.

00$1

0.00

Folia

r (Ap

hids

)ac

re1

1$1

1.00

$11.

00To

tal

$77.

11Ta

ble

3. M

achi

nery

4 Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lPl

ant

Trac

tor,

215

hpPl

ante

r16

-row

$6.4

6$3

.71

$1.0

0$0

.79

$11.

96Bu

rndo

wn

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Inse

ctic

ide

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8In

sect

icid

eSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Harv

est

Com

bine

Gra

in H

ead

30'

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Gra

in C

art

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3Ha

ulSe

mi T

ract

or/T

raile

r80

0 bu

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4To

tal

$47.

33$1

8.33

$8.0

2$5

.10

$78.

79

____

____

_

____

____

_

____

____

___

____

___

____

____

_

Your

Far

m ($

/Acr

e)

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

_

Your

Far

m ($

/Acr

e)

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

_

____

____

___

____

___

____

____

_

34

FOOTNOTES

2) Seed cost includes fungicide treatment.

4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of grain sorghum in Tennessee for the previous production year.7) Operating interest is assumed to be charged on half of all variable expenses.

1) Sorghum price is estimated at 10 cents under the price of corn.

3) Do not use Dual Mangum unless you plant seed that has been safened with Concep or Screen. Do not use Lariat, Bullet, or Lasso Pre unless you plant seed that has been safened with a seed safener containing the active ingredient Flurzole. Late-planted sorghum is susceptible to sorghum midge and must be scouted for possible treatment. An insecticide application for sugarcane aphids in addition to an insecticide application for other pests is assumed. Currently, Sivanto is the only recommended insecticide for sugarcane aphid control.

35


Grain Sorghum1 Bu 90 $3.72 $334.80 _________$334.80 _________

Variable ExpensesSeed2 Thous. 85 $0.24 $20.19 _________Fertilizer & Lime (Table 1.) Acre 1 $91.42 $91.42 _________Chemical (Table 2.) 3 Acre 1 $62.20 $62.20 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 4 Acre 1 $25.27 $25.27 _________Fuel, Oil & Filter (Table 3.) 4 Acre 1 $11.68 $11.68 _________Operator Labor (Table 3.) 4 Acre 1 $8.00 $8.00 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 90 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $3.67 $3.67 _________Operating Interest 7 % $326.43 6.00% $9.79 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$336.23 _________-$1.43 _________



$66.95 _________-$68.37 _________

Yield (bu)



Price ($/bu)

70 $4.80 $5.76 $3.5275 $4.48 $5.38 $3.5780 $4.20 $5.04 $3.6285 $3.96 $4.74 $3.6790 $3.74 $4.48 $3.7295 $3.54 $4.24 $3.77

100 $3.36 $4.03 $3.82105 $3.20 $3.84 $3.87110 $3.06 $3.67 $3.92

88 106

86 10387 104



96 115


(bu)


89 107


2016 Grain Sorghum, Conventional Tillage, Non-Irrigated Budget


Total Revenue

90 108

94 11393 11192 110

36

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Des

crip

tion

Qua

ntity

(lbs

)Pr

ice

($)

Tota

l ($/

Acre

)Yo

ur F

arm

($/A

cre)

Nitr

ogen

Ure

a90

$0.4

3$3

8.84

____

____

_Ph

osph

orou

sP 2

O5

50$0

.40

$20.

00__

____

___

Pota

ssiu

mK 2

050

$0.3

5$1

7.58

____

____

_Li

me

Lim

esto

ne1,

000

$30.

00$1

5.00

____

____

_O

ther

0$0

.00

$0.0

0__

____

___

Tota

l$9

1.42

____

____

_Ta

ble

2. C

hem

ical

s3

Chem

ical

Func

tion

Des

crip

tion

Uni

tN

umbe

r of A

pps.

Qua

ntity

Pric

eTo

tal (

$/Ac

re)

Herb

icid

esPr

e-Em

erge

Bice

p II

Mag

num

qt.

12.

1$1

2.62

$26.

50Po

st-E

mer

geAt

razin

e 4L

qt.

12

$3.6

0$7

.20

Inse

ctic

ides

Seed

Tre

atm

ent

acre

11

$7.5

0$7

.50

Folia

rac

re1

1$1

0.00

$10.

00Fo

liar (

Aphi

ds)

acre

11

$11.

00$1

1.00

Tota

l$6

2.20

Tabl

e 3.

Mac

hine

ry 4 Po

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

irs &

Mai

nten

ance

Fuel

, Oil

& F

ilter

Labo

rTo

tal

Chise

lTr

acto

r, 21

5 hp

Chise

l Plo

w21

'$1

.90

$2.3

8$1

.45

$1.1

6$6

.88

Disk

Trac

tor,

215

hpTa

ndem

Disk

29'

$4.4

8$2

.59

$1.1

7$0

.93

$9.1

7Pr

epar

e Se

edbe

dTr

acto

r, 21

5 hp

Do-A

ll26

.5'

$2.4

3$2

.21

$1.2

2$0

.97

$6.8

4Pl

ant

Trac

tor,

215

hpPl

ante

r16

-row

$6.4

6$3

.71

$1.0

0$0

.79

$11.

96Fe

rtili

zeTr

acto

r, 21

5 hp

Fert

ilize

Spr

eade

r90

0#$1

.65

$2.0

3$1

.06

$0.8

4$5

.58

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Inse

ct C

ontr

olSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Inse

ct C

ontr

olSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Harv

est

Com

bine

Gra

in H

ead

30'

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Gra

in C

art

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3Ha

ulSe

mi T

ract

or/T

raile

r80

0 bu

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4To

tal

$51.

95$2

5.27

$11.

68$8

.00

$96.

90

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

_

Your

Far

m ($

/Acr

e)__

____

___

____

____

___

____

___

____

____

___

____

___ Yo

ur F

arm

($/A

cre)

37

FOOTNOTES


3) Do not use Dual Mangum unless you plant seed that has been safened with Concep or Screen. Do not use Lariat, Bullet, or Lasso Pre unless you plant seed that has been safened with a seed safener containing the active ingredient Flurzole. Late-planted sorghum is susceptible to sorghum midge and must be scouted for possible treatment. An insecticide application for sugarcane aphids in addition to an insecticide application for other pests is assumed. Currently, Sivanto is the only recommended insecticide for sugarcane aphid control.4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery cost estimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces of machinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for a specific set of equipment, interested parties can utilize the Excel version of the budgets and modify the Machinery Assumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differences may exist in cash rental rates reported by NASS and the prevailing rate in your location.6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the average premium paid per insured acre of grain sorghum in Tennessee for the previous production year.

1) Sorghum price is estimated at 10 cents under the price of corn.2) Seed cost includes fungicide treatment.

38


Canola 1 Bu 50 $8.00 $400.00 _________$400.00 _________

Variable ExpensesSeed 2 lbs 5 $6.30 $31.50 _________Fertilizer & Lime (Table 1.) Acre 1 $178.31 $178.31 _________Chemical (Table 2.) 3 Acre 1 $47.59 $47.59 _________Crop Scout Acre 1 $6.00 $6.00 _________Repair & Maintenance (Table 3.) 4 Acre 1 $28.01 $28.01 _________

Fuel, Oil & Filter (Table 3.) 4 Acre 1 $11.61 $11.61 _________Operator Labor (Table 3.) 4 Acre 1 $7.94 $7.94 _________Machinery Rental Acre 1 $0.00 $0.00 _________Custom Work Acre 1 $0.00 $0.00 _________Drying (Fuel/Electric) Bu 50 $0.00 $0.00 _________Cash Rent 5 Acre 1 $98.00 $98.00 _________Crop Insurance 6 Acre 1 $13.82 $13.82 _________Operating Interest 7 % $422.78 6.00% $12.68 _________Other Variable Costs Acre 1 $0.00 $0.00 _________

$435.46 _________-$35.46 _________


Capital Recovery (Table 3.) Acre 1 $45.40 $45.40 _________ Other Fixed Machinery Costs Acre 1 $0.00 $0.00 _________Property Taxes Acre 1 $0.00 $0.00 _________Insurance (Non-Machinery) Acre 1 $0.00 $0.00 _________Management Labor 8 Acre 2 $15.00 $30.00 _________Other Fixed Costs 9 Acre 1 $0.00 $0.00 _________

$75.40 _________-$110.86 _________

Yield (bu)



Price ($/bu)

30 $14.52 $17.03 $7.0035 $12.44 $14.60 $7.2540 $10.89 $12.77 $7.5045 $9.68 $11.35 $7.7550 $8.71 $10.22 $8.0055 $7.92 $9.29 $8.2560 $7.26 $8.51 $8.5065 $6.70 $7.86 $8.7570 $6.22 $7.30 $9.00



7370

Variable Cost (bu)

57

62

68

62

Total Specified Cost (bu)

2016 Canola, Conventional Tillage, Non-Irrigated Budget

Total Revenue


58


60

48

51 6050 58

56 6654 6453

39

Tabl

e 1.

Fer

tiliz

er &

Lim

eFe

rtili

zer

Desc

riptio

nQ

uant

ity (l

bs)

Pric

e ($

)To

tal (

$/Ac

re)

Your

Far

m ($

/Acr

e)N

itrog

enU

rea

160

$0.4

3$6

9.04

____

____

_Ph

osph

orou

sP 2

O5

80$0

.40

$32.

00__

____

___

Pota

ssiu

mK 2

013

0$0

.35

$45.

72__

____

___

Lim

eLi

mes

tone

1,00

0$3

0.00

$15.

00__

____

___

Oth

erSu

lfur

35$0

.33

$11.

55__

____

___

Oth

er

Boro

n1

$5.0

0$5

.00

____

____

_To

tal

$178

.31

____

____

_

Tabl

e 2.

Che

mic

als 3

Chem

ical

Func

tion

Desc

riptio

nU

nit

Num

ber o

f App

s.Q

uant

ityPr

ice

Tota

l ($/

Acre

)He

rbic

ides

Pre-

plan

tTr

efla

npt

.1

1.5

$5.0

6$7

.59

Harv

est

Desic

cant

acre

11

$17.

50$1

7.50

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0$0

.00

Inse

ctic

ides

acre

11

$15.

00$1

5.00

Fung

icid

esac

re1

1$7

.50

$7.5

0To

tal

$47.

59Ta

ble

3. M

achi

nery

4 Pow

er U

nit

Impl

emen

tSi

zeCa

pita

l Rec

over

yRe

pairs

& M

aint

enan

ceFu

el, O

il &

Filt

erLa

bor

Tota

lCh

isel

Trac

tor,

215

hpCh

isel P

low

21'

$1.9

0$2

.38

$1.4

5$1

.16

$6.8

8Di

skTr

acto

r, 21

5 hp

Tand

em D

isk29

'$4

.48

$2.5

9$1

.17

$0.9

3$9

.17

Plan

tTr

acto

r, 21

5 hp

Grai

n Dr

ill20

ft$4

.69

$7.2

6$1

.85

$1.4

7$1

5.27

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Wee

d Co

ntro

lSP

Boo

m S

pray

er90

'$4

.19

$0.2

4$0

.19

$0.1

6$4

.78

Harv

est

Com

bine

Grai

n He

ad30

ft$1

1.11

$9.8

0$3

.23

$1.2

3$2

5.37

Haul

Trac

tor,

215

hpGr

ain

Cart

$2.3

1$1

.06

$0.6

5$0

.52

$4.5

3Ha

ulSe

mi T

ract

or/T

raile

r80

0 bu

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4Ch

op S

talk

sTr

acto

r, 21

5 hp

Rota

ry M

ower

15'

$3.5

0$3

.68

$1.5

4$1

.23

$9.9

5O

ther

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0O

ther

$0.0

0$0

.00

$0.0

0$0

.00

$0.0

0

Tota

l$4

5.40

$28.

01$1

1.61

$7.9

4$9

2.96

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

_

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

___

____

___

____

____

_ Your

Far

m ($

/Acr

e)

Your

Far

m ($

/Acr

e)

40

FOOTNOTES

6) Crop insurance is an estimate and will vary by policy, county, and coverage election. The estimate above is the averagepremium paid per insured acre of canola in Tennessee for the previous production year.7) Operating interest is assumed to be charged on half of all variable expenses.

3) Chemical application will vary by region: Check seed supplier or production specialist for best alternatives. Since only afew herbicides are available for weed control in canola, producers should follow crop production recommendations.Producers should be aware that many chemicals used in the production of other row-crops in Tennessee may have adetrimental impact on canola.4) Machinery expenses will vary dramatically by operation, financial resources, and land base. The machinery costestimates provided in Table 3 are provided as an estimate of cost of ownership and operation for specified pieces ofmachinery that would be available to a "representative" row-crop farm in Tennessee. To estimate machinery costs for aspecific set of equipment, interested parties can utilize the Excel version of the budgets and modify the MachineryAssumptions Table or use the Machinery Cost Calculator on the University of Tennessee Crop Economics webpage.

2) Seed cost varies by variety and seeding rate. Check with farm suppliers or contractor for rebates and incentives basedon seed variety and herbicides applied.

1) Includes seed treatment. Canola prices will vary across regions. Additionally access to markets in Tennessee may beproblematic. Should a producer consider adding canola to their rotation, a production contract and/or marketing strategyshould be fully explored prior to the planting decision, as limited buyers are available.

5) Cash rental rates are the 2015 USDA-NASS reported cash rental rates for cropland in Tennessee. Substantial differencesmay exist in cash rental rates reported by NASS and the prevailing rate in your location.

9) Additional costs may be incurred due to specialized equipment required in the handling, hauling, and storage of canola.8) Management labor is anticipated to be double what it is for conventional Tennessee row-crops.

41

Corn $3.82 buSoybeans $8.99 buWheat $4.70 buCotton $0.70 lbCotton-Tech Fee $1.22 '000 SeedsGrain Sorghum $3.72 buCanola $8.00 bu

Diesel Fuel ($/gal) $1.45 $/galElectricity ($/Kwh) $0.087 $/KwhOperator Labor ($/hr) $10.00 $/hrManagement Labor ($/hr) $15.00 $/hrOperating Interest (%) 6.00% %Fixed Capital Interest (%) 5.00% %Pump Lift Distance (Irrigation) 200 ft

Crop Scout / Consulting Fee $6.00 acreCrop Scouting-Cotton $9.50 acreDrying ($/bu) $0.00 buIrrigated Crop Land Cash Rent $165.00 acreNon-Irrigated Crop Land Cash Rent $98.00 acreCrop Insurance-Corn $13.84 acreCrop Insurance-Soybean $8.97 acreCrop Insurance-Wheat $7.35 acreCrop Insurance-Cotton $7.02 acreCrop Insurance-Grain Sorghum $3.67 acreCrop Insurance-Canola $13.82 acre

Property Taxes $0.00 $/acreInsurance (Non-machinery) $0.00 $/acreManagement Labor $15.00 $/acre

Corn $3.13 $/Thousand SeedsSoybean $0.36 $/Thousand SeedsCanola $6.30 $/lbWheat $18.50 $/buCotton (Seed + Tech Fee) $2.02 $/Thousand SeedsGrain Sorghum $0.24 $/Thousand Seeds

Commodity Prices Received by Producers

Property Taxes, Non-Machinery Insurance, and Management Labor

Seed

Crop Scout, Consulting, Cash Rent, and Crop Insurance

Fuel, Interest Rates, Pumping, and Labor Costs

42

Appendix 1: Input Summary Table

Urea $0.43 $/lbAmmonium Nitrate $0.57 $/lbUAN 28% $0.51 $/lbUAN 32% $0.51 $/lbP2O5 $0.50 $/lbDAP (18-46-0) - Soybeans $0.56 $/lbDAP (18-46-0) - Corn $0.40 $/lbK2O $0.35 $/lbLime $30.00 $/tonBoron $5.00 $/lbElemental Sulfur $0.33 $/lb

Atrazine 4#/Gal (oz.) $0.11 $/oz.Atrazine 4#/Gal (qt.) $3.60 $/qt.Gramoxone SL (oz.) $0.25 $/oz.Bicep II Magnum (qt.) $12.62 $/qt.Roundup Power Max (qt.) $5.10 $/qt.Harmony Extra (oz.) $8.00 $/oz.Valor (oz.) $5.60 $/oz.Flexstar GT (pt.) $4.25 $/pt.Halex GT (pt.) $5.25 $/pt.Boundary (pt.) $9.45 $/pt.Cobra (oz.) $1.55 $/oz.Liberty 280 SL (oz.) $0.62 $/oz.Sharpen (oz.) $5.55 $/oz.Metribuzin (oz.) $0.86 $/oz.Axial XL (oz.) $1.07 $/oz.Finesse (oz.) $16.00 $/oz.Clarity 4EC (oz.) $0.72 $/oz.Cotoran (pt.) $5.75 $/pt.Dual Magnum (pt.) $10.00 $/pt.Mepex (Mepiquat Chloride) (pt.) $1.00 $/pt.Defoliant (oz.) $0.48 $/oz.Boll Opener (Ethephon) (oz.) $0.17 $/oz.Treflan (pt.) $5.06 $/pt.Select Max (oz.) $0.78 $/oz.Reglone $0.48 $/pt.

Fertilizer

Herbicides

43


Soybean -Foliar $7.00 $/acreGrain Sorghum-Foliar $10.00 $/acreGrain Sorghum-Seed Treatment $7.50 $/acreGrain Sorghum (Sugar Cane Aphid) $11.00 $/acreSoybean-Seed Treatment $8.50 $/acreCotton-Seed Treatment $9.00 $/acreCotton-Foliar $35.00 $/acreWheat-Seed Treatment $11.00 $/acreWheat- Foliar $3.00 $/acreMaintenance Fee (Boll Weevil Eradication) $1.50 $/acreCanola $15.00 $/acre

Tilt $5.00 $/oz.Soybean-Foliar $17.40 $/acreSoybean-Seed Treatment $3.75 $/acreCotton-Seed Treatment $7.50 $/acreWheat-Seed Treatment $8.40 $/acreWheat-Foliar $17.40 $/acreCrop Oil Concentrate $3.25 $/pintCanola $7.50 $/acreDesiccant $17.50 $/acreSurfactant $3.52 $/pint

Insecticide Treatments

Fungicides /Other Chemical Inputs

44


Com

mod

ityPr

oces

sPo

wer

Uni

tIm

plem

ent

Size

Capi

tal R

ecov

ery

Repa

ir &

Mai

nten

ance

Fuel

Labo

rTo

tal

All

Chise

lTr

acto

r, 21

5 hp

Chise

l Plo

w21

'$1

.90

$2.3

8$1

.45

$1.1

6$6

.88

Disk

Trac

tor,

215

hpTa

ndem

Disk

29'

$4.4

8$2

.59

$1.1

7$0

.93

$9.1

7Pr

epar

e Se

edbe

dTr

acto

r, 21

5 hp

Do-A

ll26

.5'

$2.4

3$2

.21

$1.2

2$0

.97

$6.8

4Pr

epar

e Se

edbe

dTr

acto

r, 21

5 hp

Culti

mul

cher

20'

$2.7

3$3

.00

$1.6

2$1

.29

$8.6

4Pl

ant

Trac

tor,

215

hpPl

ante

r16

-row

$6.4

6$3

.71

$1.0

0$0

.79

$11.

96Pl

ant

Trac

tor,

215

hpG

rain

Dril

l20

ft$4

.69

$7.2

6$1

.85

$1.4

7$1

5.27

Fert

ilize

Trac

tor,

215

hpFe

rtili

zer S

prea

der

900#

$1.6

5$2

.03

$1.0

6$0

.84

$5.5

8W

eed

Cont

rol

SP B

oom

Spr

ayer

90'

$4.1

9$0

.24

$0.1

9$0

.16

$4.7

8Ha

rves

tCo

mbi

neCo

rn H

ead

8-ro

w$1

3.30

$13.

13$4

.30

$1.6

4$3

2.37

Harv

est

Com

bine

Gra

in H

ead

30 ft

$11.

11$9

.80

$3.2

3$1

.23

$25.

37Ha

ulTr

acto

r, 21

5 hp

Gra

in C

art

800

bu$2

.31

$1.0

6$0

.65

$0.5

2$4

.53

Haul

Sem

i Tra

ctor

/Tra

iler

$4.8

3$0

.52

$1.1

6$0

.93

$7.4

4Co

tton

Chop

Sta

lks

Trac

tor,

215

hpRo

tary

Mow

er15

'$3

.50

$3.6

8$1

.54

$1.2

3$9

.95

Plan

tTr

acto

r, 21

5 hp

Plan

ter

12-r

ow$7

.25

$3.7

6$1

.33

$1.0

6$1

3.40

Wee

d Co

ntro

lTr

acto

r, 21

5 hp

Hood

ed S

pray

er90

$7.5

5$1

.07

$0.3

7$0

.29

$9.2

9Ha

rves

tSP

Cot

ton

Pick

er6-

row

$23.

93$6

.16

$4.8

4$1

.84

$36.

77Ha

rves

tTr

acto

r, 21

5 hp

Boll

Bugg

y$3

.72

$0.9

9$1

.62

$1.2

9$7

.62

Harv

est

Trac

tor,

215

hpM

odul

e Bu

ilder

32'

$4.1

0$1

.03

$1.4

5$1

.15

$7.7

2Ha

rves

tPi

cker

/Mod

ule

Build

er (R

ound

)6-

row

$60.

51$1

1.45

$5.3

8$1

.56

$78.

90Ha

rves

tTr

acto

r, 21

5 hp

Mod

ule

Hand

ler

$1.4

6$0

.17

$0.9

8$0

.78

$3.3

9

Fiel

d O

pera

tions

45

Appendix 2: Field Operations Table

Com

mod

ity &

Pro

duct

ion

Proc

ess

Reve

nue

($/A

cre)

Varia

ble

Expe

nses

($/A

cre)

Fixe

d Ex

pens

es ($

/Acr

e)Pr

ofit

(Los

s)Co

rn N

T N

on-Ir

r$5

73.0

0$4

55.7

9$5

6.13

$61.

08Co

rn C

T N

on-Ir

r$5

73.0

0$4

58.6

6$6

0.75

$53.

59Co

rn Ir

r$8

59.5

0$6

13.7

7$1

58.9

4$8

6.79

Soyb

eans

NT

Non

-Irr

$404

.55

$365

.65

$62.

33($

23.4

3)So

ybea

ns Ir

r$5

39.4

0$4

67.3

8$1

65.1

4($

93.1

2)W

heat

& S

oybe

an D

C$5

96.6

5$5

28.0

3$9

8.58

($29

.96)

Whe

at$2

82.0

0$3

71.6

4$6

5.17

($15

4.82

)Co

tton

CT

$595

.00

$535

.01

$139

.88

($79

.88)

Cott

on N

T$6

12.5

0$5

25.3

1$1

26.2

9($

39.0

9)Co

tton

IRR

$770

.00

$636

.33

$225

.05

($91

.38)

G.S

orgh

um N

T$3

34.8

0$3

37.6

8$6

2.33

($65

.21)

G.S

orgh

um C

T$3

34.8

0$3

36.2

3$6

6.95

($68

.37)

Cano

la$4

00.0

0$4

35.4

6$7

5.40

($11

0.86

)

Sum

mar

y of

Rev

enue

, Var

iabl

e an

d Fi

xed

Expe

nses

, and

Pro

fit o

r Los

s for

eac

h Co

mm

odity

and

Pro

duct

ion

Met

hod

46

Appendix 3: Budget Summary

E12-4115 1/16

Programs in agriculture and natural resources, 4-H youth development, family and consumer services, and resource development. University of Tennessee Institute of Agriculture, U.S. Department of Agriculture and county governments cooperating.

UT Extension provides equal opportunities in programs and employment.

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