As you gear up for 2017, it’s important to consider the estimated costs and returns per acre of the crops in your production rotation. Considering all variable and fixed costs to determine the true cost of production will help you make decisions for the coming year.
The NCSU Ag-Econ department has the 2017 budgets for all crops up on their website. The soybean budgets are here and budgets are posted for both Tidewater and Coastal Plain growers and for conventional, strip, and no-till growers.
Here is an example of the 2017 Full Season, Conventional Till, Coastal Plain budget.
These budgets are developed for planning purposes only, and therefore some of your costs may differ. They also do not include land rent or overhead costs. If you would like to plug in your own numbers, the United Soybean Board has a Breakeven Calculator here.
In addition to the soybean budgets, NCSU Ag-Econ provides budgets for most crops grown in North Carolina which can be found here.
These are great tools to ref as you make plans for 2017