Updated: February 18, 2025
By Shannon Dill , Ben Beale , Dale Johnson , Jim Lewis , and Jenny Rhodes

2025 Field Crop Budgets

Crop budgets vary greatly by operation! Prices and cost estimates are averages collected from retailers across the state. Input prices will vary by crop, management, region, varieties and other criteria and may not be reflective of YOUR true costs.

Assumptions in Analysis

  • Land charge of $110. Purchase price is not included.
  • Operating expenses borrowed at 8.5% interest for 5 months of expenses.
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Fixed costs are calculated with MD Custom Rates (2025) -should use your actual fixed costs
  • Crop insurance quotes. Actuals will not be set until March.

*Any fields with resistance weeds should reconsider post application products

Budgeting Recommendations

  • Create your own budgets and fixed costs including equipment, repairs, insurance, depreciation, interest and
  • Write and implement a farm business plan - setting goals, managing finances and develop markets
  • Manage capital assets such as land and equipment
  • Track your expenses and at the end of the year compare actual and projected

Using This Spreadsheet

  • This workbook is designed to be updated very easily. Click on the INPUTS worksheet and make changes. This will automatically update changes on other worksheets (i.e. N changes from .47 to .54 update it on the inputs page and it automatically updates all N prices for the 5 crops)
  • Be sure to save changes periodically and use the date in the title to mark when the budget was prepared.
  • Questions Contact: Shannon Dill, 410-822-1244 or sdill@umd.edu

Download Maryland Crop Budgets 2025 Excel Version   
Download Maryland Crop Budgets 2025 PDF Version

Spreadsheets

YEAR UNIT PRICE (2025) NOTES
INCOME      
CORN BUSHEL $4.65 Dec. 25
SOYBEANS BUSHEL $10.80 Nov. 25
WHEAT BUSHEL $6.05 Jul. 25
EXPENSES      
SEED      
CORN CONVENTIONAL 1000 SEEDS $2.57  
CORN ROUNDUP READY & Bt 1000 SEEDS $3.63  
SOYBEAN 1000 SEEDS $0.31  
SOYBEAN RR II 1000 SEEDS $0.35  
SOYBEAN ENLIST 1000 SEEDS $0.41  
WHEAT (treated) POUND $0.45  
FERTILIZER      
Nitrogen POUND $0.54  
Phosphorus POUND $0.73  
Potash POUND $0.34  
Sulfate POUND $0.81  
POULTRY LITTER TON $25.00  
LIME TON $50.00  
PESTICIDES      
2 4-D AMIE QUART $4.55  
2 4-D ESTER PINT $2.65  
ACURON QUART $19.25  
ANTHEM FLEX QUART $111.98  
ATRAZINE QUART $3.85  
BICEP II MAGNUM PINT $3.63  
BOUNDARY PINT $8.28  
CORVUS OUNCE $4.63  
DUAL MAGNUM OUNCE $0.46  
DUAL II MAGNUM OUNCE $0.47  
ENLIST ONE PINT $10.16  
FLEXSTAR GT PINT $2.01  
GRAMOXONE SL 3.0 PINT $2.35  
HALEX GT PINT $4.96  
HARMONY SG QUART $6.20  
LIBERTY QUART $6.38  
METRIBUZIN QUART $12.05  
PRINCEP QUART $9.75  
PROSARO OUNCE $1.69  
REFLEX PINT $8.90  
ROUNDUP QUART $4.85  
SHARPEN QUART $192.20  
STATUS 56 OUNCE $4.25  
STRATEGO OUNCE $2.68  
SURFACTANT QUART $0.20  
TILT OUNCE $0.78  
VALOR EZ OUNCE $2.85  
WARRIOR II OUNCE $2.38  
ZIDUA OUNCE $3.66  
OTHER      
SOIL TEST ACRE $0.50  
CROP INSURANCE - Corn ACRE $15.80  
CROP INSURANCE - Corn Irrigated ACRE $21.62  
CROP INSURANCE - Soybeans ACRE $10.28  
CROP INSURANCE - Wheat ACRE $8.97  
DRYING FUEL AND HANDLING BUSHEL $0.35  
FIXED COSTS   (2025 Custom Rates)      
STALK CHOPPING ACRE $27.84  
CHISEL PLOWING ACRE $25.55  
DISKING ACRE $26.64  
FIELD CULTIVATOR/FINISHER ACRE $25.56  
VERTICAL TILLAGE ACRE $19.50  
FERTILIZER SPREADING ACRE $11.72  
SIDEDRESSING ACRE $13.78  
MANURE LOADING TON $6.58  
MANURE SPREADING - LITTER TON $12.49  
MANURE HAULING TON $8.85  
PESTICIDE SPRAYING ACRE $14.01  
NOTILL DRILLING      
       SMALL GRAIN ACRE $23.43  
PLANTING      
       CORN - Conventional ACRE $27.23  
       CORN - NoTill ACRE $27.57  
       SOYBEAN - Conventional ACRE $29.13  
       SOYBEAN - NoTill ACRE $27.10  
BROADCAST SEEDING SMGRAIN ACRE $12.60  
HARVESTING      
       CORN ACRE $40.03  
       SOYBEAN ACRE $39.63  
       WHEAT ACRE $39.55  
HAULING BUSHEL $0.19  
LAND CHARGE ACRE $110.00  
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
CORN GRAIN BUSHEL 160 $4.65 $744.00
VARIABLE COSTS        
SEED RR + Bt 1000 SEEDS 30 $3.63 $108.90
SOIL TEST ACRE 1 $0.50 $0.50
NITROGEN POUND 160 $0.54 $86.40
PHOSPHATE POUND 30 $0.73 $21.90
POTASH POUND 60 $0.34 $20.40
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 2 $2.35 $4.70
CORVUS OUNCE 4 $4.63 $18.52
ATRAZINE QUART 0.5 $3.85 $1.93
ROUNDUP (POST)* QUART 1 $4.85 $4.85
PRINCEP QUART 1 $9.75 $9.75
         
CROP INSURANCE (RP 70%) ACRE 1 $15.80 $15.80
         
DRYING FUEL BUSHEL 160 $0.36 $57.60
         
INTEREST ON OPERATING CAPITAL $318.65 0.5 8.5% $13.54
TOTAL VARIABLE COSTS LISTED ABOVE $389.79
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER SPREADING ACRE 1 $11.72 $11.72
NO-TILL PLANTING WITH FERTILIZER ACRE 1 $27.57 $27.57
NITROGEN APPLICATION ACRE 1 $13.78 $13.78
PESTICIDE APPLICATIONS ACRE 2 $14.01 $28.02
HARVESTING ACRE 1 $40.03 $40.03
HAULING BUSHEL 160 $0.19 $30.40
INTEREST ON SPRING CUSTOM CHARGES $81.09 0.5 8.5% $3.45
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $264.97
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $654.75
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $89.25
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $4.09 $4.65 $5.21
120 ($163.71) ($96.75) ($29.79)
160 ($0.03) $89.25 $178.53
200 $163.65 $275.25 $386.85

Assumptions

  • Non-continuous corn so soil insecticide may not be necessary.
  • If following beans add 20 lb N credit
  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Bt seed corn, hybrid, mid price grade
  • *Any fields with resistant weeds should reconsider post-application products
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
CORN GRAIN BUSHEL 160 $4.65 $744.00
VARIABLE COSTS        
SEED RR + Bt 1000 SEEDS 30 $3.63 $108.90
SOIL TEST ACRE 1 $0.50 $0.50
NITROGEN POUND 160 $0.54 $86.40
PHOSPHATE POUND 30 $0.73 $21.90
POTASH POUND 60 $0.34 $20.40
LIME TON 0.5 $50.00 $25.00
CORVUS OUNCE 4 $4.63 $18.52
ATRAZINE QUART 0.5 $3.85 $1.93
PRINCEP QUART 1 $9.75 $9.75
ROUNDUP (POST)* QUART 1 $4.85 $4.85
CROP INSURANCE (RP 70%) ACRE 1 $15.80 $15.80
         
DRYING FUEL BUSHEL 160 $0.36 $57.60
         
INTEREST ON OPERATING CAPITAL $313.95 0.5 8.5% $13.34
TOTAL VARIABLE COSTS LISTED ABOVE $384.89
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
CHISEL PLOWING ACRE 1 $25.55 $25.55
DISKING ACRE 1 $26.64 $26.64
FIELD CULTIVATOR/FINISHER ACRE 1 $25.56 $25.56
FERTILIZER SPREADING ACRE 1 $11.72 $11.72
PLANTING WITH FERTILIZER ACRE 1 $27.23 $27.23
NITROGEN APPLICATION ACRE 1 $13.78 $13.78
PESTICIDE APPLICATIONS ACRE 2 $14.01 $28.02
HARVESTING ACRE 1 $40.03 $40.03
HAULING BUSHEL 160 $0.19 $30.40
INTEREST ON SPRING CUSTOM CHARGES $158.50 0.5 8.5% $6.74
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $345.67
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $730.55
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $13.45
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $4.09 $4.65 $5.21
120 ($239.51) ($172.55) ($105.59)
160 ($75.83) $13.45 $102.73
200 $87.85 $199.45 $311.05

Assumptions

  • Non-continuous corn so soil insecticide may not be necessary.
  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Bt seed corn, hybrid, mid price grade
  • *Any fields with resistant weeds should reconsider post-application products
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
CORN GRAIN BUSHEL 230 $4.65 $1,069.50
VARIABLE COSTS        
SEED RR + Bt 1000 SEEDS 36 $3.63 $130.68
SOIL TEST ACRE 1 $0.50 $0.50
NITROGEN POUND 230 $0.54 $124.20
PHOSPHATE POUND 45 $0.73 $32.85
POTASH POUND 100 $0.34 $34.00
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 1.5 $2.35 $3.53
CORVUS OUNCE 4 $4.63 $18.52
ATRAZINE QUART 0.5 $3.85 $1.93
ROUNDUP (POST)* QUART 1 $4.85 $4.85
STRATEGO OUNCE 4 $2.68 $10.72
PRINCEP QUART 1 $9.75 $9.75
CROP INSURANCE (RP 70%) ACRE 1 $21.62 $21.62
DRYING FUEL BUSHEL 230 $0.35 $80.50
IRRIGATION EXPENSE (eletric, fuel, etc) INCH 10 $7.78 $77.80
IRRIGATION REPAIR & MAINTENANCE ACRE 1 $10.00 $10.00
         
INTEREST ON OPERATING CAPITAL $418.14 0.5 8.5% $17.77
TOTAL VARIABLE COSTS LISTED ABOVE $604.21
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER SPREADING ACRE 1 $11.72 $11.72
NO-TILL PLANTING WITH FERTILIZER ACRE 1 $27.57 $27.57
NITROGEN APPLICATION ACRE 1 $13.78 $13.78
PESTICIDE APPLICATIONS ACRE 2 $14.01 $28.02
HARVESTING ACRE 1 $40.03 $40.03
HAULING BUSHEL 230 $0.19 $43.70
INTEREST ON SPRING CUSTOM CHARGES $81.09 0.5 8.5% $3.45
IRRIGATION PAYMENT (including interest) ACRE 1 $150.00 $150.00
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $428.27
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $1,032.48
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $37.02
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $4.09 $4.65 $5.21
172.5 ($326.61) ($230.35) ($134.10)
230 ($91.32) $37.02 $165.36
287.5 $143.97 $304.40 $464.82

Assumptions

  • Non-continuous corn so soil insecticide may not be necessary.
  • If following beans add 20 lb N credit
  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Bt seed corn, hybrid, mid price grade
  • *Any fields with resistant weeds should reconsider post-application products
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
  • Average variable cost for irrigation (electric, diesel, gas) = $7.78/inch
  • Average variable cost for irrigation (repair/maintenance) = $10/acre
  • Average fixed cost (irrigation payments) =~$150/acre
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
CORN GRAIN BUSHEL 160 $4.65 $744.00
VARIABLE COSTS        
SEED RR +Bt 1000 SEEDS 30 $3.63 $108.90
SOIL TEST ACRE 1 $0.50 $0.50
NITROGEN POUND 80 $0.54 $43.20
PHOSPHATE POUND 0 $0.73 $0.00
POTASH POUND 0 $0.34 $0.00
POULTRY LITTER (57-99-113) TON 2 $25.00 $50.00
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 1.5 $2.35 $3.53
CORVUS OUNCE 4 $4.63 $18.52
ATRAZINE QUART 0.5 $3.85 $1.93
ROUNDUP POST* QUART 1 $4.85 $4.85
PRINCEP QUART 1 $9.75 $9.75
CROP INSURANCE (RP 70%) ACRE 1 $15.80 $15.80
         
DRYING FUEL BUSHEL 160 $0.35 $56.00
         
INTEREST ON OPERATING CAPITAL $281.97 0.5 8.5% $11.98
TOTAL VARIABLE COSTS LISTED ABOVE $349.95
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
MANURE HAULING TON 2 $8.85 $17.70
MANURE LOADING TON 2 $6.58 $13.16
MANURE SPREADING - LITTER TON 2 $12.49 $24.98
MINIMAL TILLAGE ACRE 1 $19.50 $19.50
NO-TILL PLANTING ACRE 1 $27.57 $27.57
NITROGEN APPLICATION ACRE 1 $13.78 $13.78
PESTICIDE APPLICATIONS ACRE 2 $14.01 $28.02
HARVESTING ACRE 1 $40.03 $40.03
HAULING BUSHEL 160 $0.19 $30.40
INTEREST ON SPRING CUSTOM CHARGES $127.01 0.5 8.5% $5.40
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $330.54
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $680.49
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $63.51
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $4.09 $4.65 $5.21
120 ($189.45) ($122.49) ($55.53)
160 ($25.77) $63.51 $152.79
200 $137.91 $249.51 $361.11

Assumptions

  • Non-continuous corn so soil insecticide may not be necessary.
  • If following beans add 20 lb N credit
  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Bt seed corn, hybrid, mid price grade
  • Poultry litter estimates - Economic Value of Poultry Litter 2002. Lichtenberg, Parker, Lynch.
  • Litter will provide nitrogen availability at year 2 20% and year 3 5%
  • *Any fields with resistant weeds should reconsider post-application products
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
CORN GRAIN BUSHEL 160 $4.65 $744.00
VARIABLE COSTS        
SEED RR +Bt 1000 SEEDS 30 $3.63 $108.90
SOIL TEST ACRE 1 $0.50 $0.50
NITROGEN POUND 160 $0.54 $86.40
PHOSPHATE POUND 30 $0.73 $21.90
POTASH POUND 60 $0.34 $20.40
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 1.5 $2.35 $3.53
ATRAZINE QUART 0.5 $3.85 $1.93
PRINCEP QUART 1 $9.75 $9.75
HALEX GT PINT 4 $4.96 $19.84
STATUS 56 WDG OUNCE 4 $4.25 $17.00
CROP INSURANCE (RP 70%) ACRE 1 $15.80 $15.80
         
DRYING FUEL BUSHEL 160 $0.36 $57.60
         
INTEREST ON OPERATING CAPITAL $330.94 0.5 8.5% $14.06
TOTAL VARIABLE COSTS LISTED ABOVE $402.60
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER SPREADING ACRE 1 $11.72 $11.72
NO-TILL PLANTING WITH FERTILIZER ACRE 1 $27.57 $27.57
NITROGEN APPLICATION ACRE 1 $13.78 $13.78
PESTICIDE APPLICATIONS ACRE 3 $14.01 $42.03
HARVESTING ACRE 1 $40.03 $40.03
HAULING BUSHEL 160 $0.19 $30.40
INTEREST ON SPRING CUSTOM CHARGES $95.10 0.5 8.5% $4.04
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $279.57
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $682.18
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $61.82
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $4.09 $4.65 $5.21
120 ($191.14) ($124.18) ($57.22)
160 ($27.46) $61.82 $151.10
200 $136.22 $247.82 $359.42

Assumptions

  • Non-continuous corn so soil insecticide may not be necessary.
  • If following beans add 20 lb N credit
  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Bt seed corn, hybrid, mid price grade
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
SOYBEANS BUSHEL 60 $10.80 $648.00
VARIABLE COSTS        
SEED 1000 SEEDS 150 $0.35 $52.50
SOIL TESTING ACRE 1 $0.50 $0.50
         
PHOSPHATE POUND 45 $0.73 $32.85
POTASH POUND 40 $0.34 $13.60
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 2 $2.35 $4.70
VALOR EZ OUNCE 3 $2.85 $8.55
2 4-D PINT 1 $2.65 $2.65
ROUNDUP (2 PASSES)* QUART 2 $4.85 $9.70
REFLEX PINT 1.5 $8.90 $13.35
WARRIOR II OUNCE 1.92 $2.38 $4.57
         
CROP INSURANCE (RP 70%) ACRE 1 $10.28 $10.28
         
INTEREST ON OPERATING CAPITAL $178.25 0.5 8.5% $7.58
TOTAL VARIABLE COSTS LISTED ABOVE $185.83
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER APPLICATION ACRE 1 $11.72 $11.72
SOYBEAN - NoTill ACRE 1 $27.10 $27.10
PESTICIDE APPLICATIONS ACRE 3 $14.01 $14.01
HARVESTING ACRE 1 $39.63 $39.63
HAULING BUSHEL 60 $0.19 $11.40
INTEREST ON SPRING CUSTOM CHARGES $80.85 0.5 8.5% $3.44
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $245.32
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $431.14
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $216.86
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $9.50 $10.80 $12.10
45 ($3.46) $54.86 $113.18
60 $139.10 $216.86 $294.62
75 $281.66 $378.86 $476.06

Assumptions

  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Local hauling within 30 miles of farm
  • *Any fields with resistant weeds should reconsider post-application products
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
SOYBEANS BUSHEL 60 $10.80 $648.00
VARIABLE COSTS        
SEED 1000 SEEDS 150 $0.35 $52.50
SOIL TESTING ACRE 1 $0.50 $0.50
         
PHOSPHATE POUND 45 $0.73 $32.85
POTASH POUND 40 $0.34 $13.60
LIME TON 0.5 $50.00 $25.00
GRAMOXONE SL 3.0 PINT 2 $2.35 $4.70
2 4-D PINT 1 $2.65 $2.65
VALOR EZ OUNCE 3 $2.85 $8.55
WARRIOR II OUNCE 1.92 $2.38 $4.57
DUAL II MAGNUM OUNCE 20 $0.47 $9.40
ENLIST ONE PINT 2 $10.16 $20.32
CROP INSURANCE (RP 70%) ACRE 1 $10.28 $10.28
         
INTEREST ON OPERATING CAPITAL $184.92 0.5 8.5% $7.86
TOTAL VARIABLE COSTS LISTED ABOVE $192.78
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER APPLICATION ACRE 1 $11.72 $11.72
SOYBEAN - NoTill Planting ACRE 1 $27.10 $27.10
PESTICIDE APPLICATIONS ACRE 3 $14.01 $42.03
HARVESTING ACRE 1 $39.63 $39.63
HAULING BUSHEL 60 $0.19 $11.40
INTEREST ON SPRING CUSTOM CHARGES $80.85 0.5 8.5% $3.44
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $245.32
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $438.09
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $209.91
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $9.50 $10.80 $12.10
45 ($10.41) $47.91 $106.23
60 $132.15 $209.91 $287.67
75 $274.71 $371.91 $469.11

Assumptions

  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Local hauling within 30 miles of farm
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM UNIT QUANTITY PRICE TOTAL
GROSS INCOME        
WHEAT BUSHEL 75 $6.05 $453.75
VARIABLE COSTS        
SEED POUND 150 $0.45 $67.50
SOIL TESTING ACRE 1 $0.50 $0.50
NITROGEN POUND 70 $0.54 $37.80
PHOSPHATE POUND 40 $0.73 $29.20
POTASH POUND 40 $0.34 $13.60
LIME TON 0.5 $50.00 $25.00
         
HARMONY SG OUNCE 0.8 $6.20 $4.96
SURFACTANT QUART 1 $0.20 $0.20
TILT OUNCE 2 $0.78 $1.56
ZIDUA OUNCE 1.5 $3.66 $5.49
PROSARO OUNCE 6.5 $1.69 $10.99
WARRIOR II OUNCE 3 $2.38 $7.14
         
CROP INSURANCE (RP 70%) ACRE 1.00 $8.97 $8.97
         
INTEREST ON OPERATING CAPITAL $212.91 0.5 8.5% $9.05
TOTAL VARIABLE COSTS LISTED ABOVE $221.95
         
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
SPREADING FERTILIZER ACRE 1 $11.72 $11.72
VERTICAL TILLAGE ACRE 2 $19.50 $39.00
BROADCAST SEEDING ACRE 1 $12.60 $12.60
PESTICIDE APPLICATION ACRE 2 $14.01 $28.02
HARVESTING ACRE 1 $39.55 $39.55
HAULING BUSHEL 75 $0.19 $14.25
INTEREST ON FALL CUSTOM CHARGES $91.34 0.5 8.5% $3.88
         
LAND CHARGE ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $259.02
         
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $480.98
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE ($27.23)
   
    PRICES (12%)
NET INCOME ABOVE VARIABLE AND
FIXED COSTS LISTED ABOVE FOR
VARIOUS YIELDS AND PRICES
YIELDS (25%) $5.32 $6.05 $6.78
56.25 ($181.50) ($140.66) ($99.83)
75 ($81.68) ($27.23) $27.22
93.75 $18.15 $86.21 $154.27

Assumptions

  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • Sensitivity analysis based on 75%,100% and 125% of typical yield and 12% current forward contract price.
ITEM   UNIT QUANTITY PRICE TOTAL
GROSS INCOME          
WHEAT   BUSHEL 75 $6.05 $453.75
SOYBEANS   BUSHEL 50 $10.80 $540.00
TOTAL GROSS INCOME 993.75
           
VARIABLE COSTS          
SEED-WHEAT   POUND 150 $0.45 $67.50
SEED-SOYBEANS   1000 SEEDS 175 $0.35 $61.25
SOIL TEST   ACRE 1 $0.50 $0.50
NITROGEN   POUND 70 $0.54 $37.80
PHOSPHATE   POUND 85 $0.73 $62.05
POTASH   POUND 75 $0.34 $25.50
LIME   TON 0.5 $50.00 $25.00
HARMONY SG   OUNCE 0.5 $6.20 $4.48
ZIDUA   OUNCE 1.5 $3.66 $4.85
SURFACTANT   QUART 1 $2.25 $2.25
TILT   OUNCE 2 $0.78 $1.56
WARRIOR II   OUNCE 3.84 $2.38 $9.14
2 4-D   PINT 1 $2.65 $2.65
PROSARO   OUNCE 6.5 $1.69 $10.99
ROUNDUP   QUART 1 $4.85 $4.85
CROP INSURANCE-WHEAT (RP 70%)   ACRE 1.00 $8.97 $8.97
CROP INSURANCE-BEANS (RP 70%)   ACRE 1.00 $10.28 $10.28
Interest on Operating Capital   $338.23 0.5 8.5% $14.37
TOTAL VARIABLE COSTS LISTED ABOVE $352.61
NET INCOME OVER VARIABLE COSTS LISTED ABOVE     $641.14
       
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
FERTILIZER SPREADING   ACRE 2 $11.72 $23.44
VERTICAL TILLAGE   ACRE 2 $19.50 $39.00
BROADCAST SEEDING   ACRE 1 $12.60 $12.60
NOTILL DRILLING   ACRE 1 $23.43 $23.43
PESTICIDE APPLICATION   ACRE 4 $14.01 $56.04
HARVESTING   ACRE 2 $39.55 $79.10
HAULING   BUSHEL 125 $0.19 $23.75
INTEREST ON FALL/SPRING CUSTOM CHARGES   $154.51 0.5 8.5% $6.57
LAND CHARGE   ACRE 1 $110.00 $110.00
TOTAL FIXED COST LISTED ABOVE $373.93
           
TOTAL VARIABLE AND FIXED COST LISTED ABOVE $726.54
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE $267.21
   
      PRICES (12%)

NET INCOME ABOVE VARIABLE AND FIXED COSTS LISTED ABOVE FOR VARIOUS YIELDS AND PRICES

 

Sensitivity Analysis based on soybeans/wheat yield and price

WHEAT   $5.32 $6.05 $6.78
  BEAN $9.50 $10.80 $12.10
56 38 ($70.66) $18.78 $108.21
75 50 $147.96 $267.21 $386.46
94 63 $366.59 $515.65 $664.71

Assumptions

  • Local hauling within 30 miles of farm
  • Fertility rates based on MCE SFM-1 guidelines
  • Assuming medium fertility levels
  • 1 Post-plant bean glyphosate application
  • Sensitivity analysis based on 75%,100%, and 125% of yield of beans and current forward contract price of beans/wheat.
CROP:  YEAR:
ITEM   UNIT QUANTITY PRICE TOTAL
GROSS INCOME          
           
           
TOTAL GROSS INCOME  
           
VARIABLE COSTS          
SEED          
SOIL TEST          
NITROGEN          
PHOSPHATE          
POTASH          
LIME          
PESTICIDES          
           
           
           
CROP INSURANCE          
           
DRYING FUEL          
           
INTEREST ON OPERATING CAPITAL          
TOTAL VARIABLE COSTS LISTED ABOVE  
       
FIXED OVERHEAD COSTS (Custom Rates are used as a proxy for field operation costs)
           
           
           
           
           
           
           
LAND CHARGE          
TOTAL FIXED COST LISTED ABOVE  
           
TOTAL VARIABLE AND FIXED COST LISTED ABOVE  
NET INCOME OVER VARIABLE & FIXED COSTS LISTED ABOVE  

Historical

COST PER ACRE
YEAR CORN-NO-TILL CORN-CONVENTIONAL SOYBEANS WHEAT WHEAT/BEANS
2007 $362 $379 $234 $309 $396
2008 $471 $515 $307 $390 $562
2009 $521 $540 $411 $406 $631
2010 $525 $530 $406 $407 $641
2011 $569 $569 $348 $437 $654
2012 $573 $573 $356 $433 $656
2013 $553 $589 $350 $442 $670
2014 $507 $546 $365 $427 $662
2015 $576 $577 $358 $440 $660
2016 $552 $599 $365 $418 $649
2017 $566 $582 $358 $457 $672
2018 $526 $555 $355 $349 $639
2019 $564 $619 $363 $437 $656
2020 $538 $594 $347 $424 $631
2021 $540 $592 $346 $401 $608
2022 $698 $749 $402 $490 $749
2023 $736 $800 $423 $538 $800
2024 $690 $749 $410 $514 $752
2025 $655 $731 $416 $481 $736

** Historical Chart is based on prices in the January-March of each year

COST PER ACRE 2025
  CORN-NO-TILL CORN-CONVENTIONAL SOYBEANS WHEAT WHEAT/BEANS
2024 $690 $749 $410 $514 $752
2025 $655 $731 $416 $481 $736
Difference -$35 -$18 $6 -$33 -$16
Percent Change -5% -2% 2% -6% -2%
OPERATION AVERAGE '25 AVERAGE '23 PERCENT CHANGE
FIELD PREPARATION $24 $20 16%
PLANTING $25 $22 14%
FIELD APPLICATIONS $15 $14 8%
GRASS AND HAY PRODUCTION $18 $15 15%
HARVESTING $86 $73 15%
LABOR $47 $42 11%
EQUIPMENT EXPENSES $71 $85 -19%
AVERAGE TOTAL CHANGE     8%

 

Questions Contact: Shannon Dill, 410-822-1244 or sdill@umd.edu
www.go.umd.edu/grainmarketing

Budgets were developed by Shannon Dill, Jenny Rhodes, Ben Beale, Dale Johnson, Jim Lewis

Disclaimer

Reference in this publication to any specific commercial product, process, or service, or the use of any trade, firm, or corporation name is for general informational purposes only and does not constitute an endorsement, recommendation, or certification. Persons using such products assume responsibility for their use in accordance with current directions of the manufacturer.

EQUAL ACCESS PROGRAMS

Explore Resources

  • Custom Work Charges in Maryland

  • Custom Rates

  • Crop Insurance

  • Crop Budgets

  • Web-Based Soybean Budget Tool