2014 Crop Cost Estimates
Iowa State University Extension released in early January its annual “Estimated Costs of Crop Production in Iowa — 2014” publication FM-1712.
The online version is file A1-20 that can be found on the ISU Ag Decision Maker web site: www.extension.iastate.edu/agdm
Both versions have spaces where farmers can insert their own cost estimates for various crop inputs to reflect various crop rotations, tillage practices, land costs and input buying decisions.
This can assist farmers in determining their potential crop costs per acre and per bushel for various crops, rotations and tillage practices.
These crop cost estimates for 2014 corn and soybean production in Iowa are not expected to change significantly from 2013.
Fertilizer costs in 2014 are expected to drop approximately 20 percent, but will be offset by slightly higher seed, crop protection, energy and cash rental rates.
Estimated costs to produce a bushel of corn are expected to be down about 1 percent, while the cost to produce soybeans is up 2 percent.
Thus, cost estimates for most inputs in 2014 should remain fairly flat, except for fertilizer.
Land costs aren’t expected to drop significantly, however, flexible cash leases (adjusted for yield, price and costs) are beginning to replace some of the high fixed cash rent leases statewide.
The publication also creates cost of production estimates for corn and soybeans.
These can include various crop rotations and are displayed as three different yield categories for conventional tillage. Results for cost of production considering medium yields in 2014 are as follows:
A). Soybeans following Corn with an average yield of 50 bu/A, average cost $11.13 per bushel.
B). Corn following Soybeans with an average yield of 180 bu/A, average cost of $4.29 per bushel.
C). Corn following Corn with an average yield of 165 bu/A, average cost of $4.97 per acre.
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