The University of Maryland Extension has updated the grain marketing website with new input data and spray programs for the 2022 field crop budgets.
Crop Budgets
Cost of production is very important when making decisions related to your farm enterprise and grain marketing. Enterprise budgets provide valuable information regarding individual enterprises on the farm. This tool enables farm managers to make decisions regarding enterprises and plan for the coming production year. An enterprise budget uses farm revenue, variable cost, fixed cost and net income to provide a clear picture of the financial health of each farm enterprise.
The 2022 Maryland enterprise budgets were developed using average yields and estimated input cost based upon producer and farm supplier data. There has been a lot of fluctuation in fertilizer prices, pesticide availability and fuel expenses. The figures presented are averages and vary greatly from one farm and region to the other. Therefore, it is crucial to input actual farm data when completing enterprise budgets for your farm.
How to Use University Enterprise Budgets
Enterprise budgets can be used as a baseline for your operation. Make changes to these budgets to include your production techniques, inputs and overall management. New spray programs were added for herbicide resistant weeds. The budgets are available electronically in PDF or Excel. Use this document as a start or reference to create your crop budgets. If you have problems downloading any of these budgets, contact information is located on the website.
| Year | Corn No Till | Corn Conventional | Full Season Soybeans | Wheat | Double Crop Wheat/Beans |
|---|---|---|---|---|---|
| 2021 | $540 | $592 | $346 | $401 | $608 |
| 2022 | $698 | $749 | $402 | $490 | $749 |
| Percent Change | +29% | +26% | +16% | +22% | +23% |