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 the farm manager to make decisions regarding enterprises and plan for the coming production year. The 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 2021 Maryland enterprise budgets were developed using average yields and estimated input cost based upon producer and farm supplier data. The figures presented are averages and vary greatly from one farm to the other. It is therefore crucial to input actual farm data when completing enterprise budgets for your farm.
New Web-Based Soybean Budget Tool
With grant funding from the Maryland Soybean Board, we have been working to develop a new web-based app for calculating crop budgets for growing soybeans. The goal for this new tool is to allow farmers more freedom to customize inputs to better reflect their farming practices with a simple user interface. The web app allows you to download a summary of all inputs and expected profits as a PDF document for your records.
We are interested in gathering feedback and input about this new format and ways to improve it in the future. After testing the new crop budget tool, we would appreciate if you could take a few minutes to provide feedback through our online survey. Survey feedback will be used to develop better crop budget tools in the future.
How to Use Enterprise Budgets
The enterprise budgets below can be used as a baseline for your operation. Make changes to these budgets to include your production techniques, inputs, and overall management.
These budgets are also available electronically in an Excel worksheet below. Use this document to make changes for your operation and to find a lower cost of production. If you have problems downloading any of these budgets contact your local Extension office for copies.
*** GRAIN SORGHUM budget (PDF version) ***
- Maryland Field Crop Budgets 2023 - HTML Version (Updated 2-14-2023)
- Maryland Field Crop Budgets 2023 - Excel Version (Updated 2-14-2023)
- Maryland Field Crop Budgets 2023 - PDF Version (Updated 2-14-2023)
- Maryland Field Crop Budgets 2022 - Excel Version (Updated 12-13-2021)
- Maryland Field Crop Budgets 2022 - PDF Version (Updated 12-13-2021)
- MD Crop Budgets 2021 - Excel Version (Updated 2/2021)
- MD Crop Budgets 2021 - PDF Version (Updated 2/2021)
- MD Cover Crop Budgets 2014 - PDF (Updated 05/2014)
- Organic Crop Budgets 2020 - PDF (Updated 12/2020)
- Organic Crop Budgets 2020 - Excel (Updated 12/2020)
- Blank Budget Worksheet - PDF