Table S1.

Comprehensive annual production costs for low-till corn (following soybeans) and soybeans (following corn) for the State of Iowa

Financial factors2007*200820092010§20112012#20132014**2015††
CropSoybeanCornSoybeanCornSoybeanCornSoybeanCornSoybean
Preharvest costs
 Machinery50.7365.8853.6959.5356.0480.4359.8282.1660.49
 Seed106.99151.10174.35280.51135.91264.64145.32286.09158.54
 Nitrogen0.00152.760.00113.910.00207.590.00145.270.00
 Phosphate42.4383.0399.6370.2362.39112.9248.8873.6948.38
 Potash49.4437.36149.4563.1193.2177.0795.4555.8077.52
 Lime‡‡20.0619.3719.3726.2925.5725.0824.6125.2025.20
 Herbicide83.69101.0184.7895.1363.4690.8193.5399.56100.32
 Crop insurance18.6341.5134.5946.2127.2358.3938.1850.4122.44
 Miscellaneous§§25.8024.9124.9124.4623.8023.3522.9125.2025.20
 Interest on preharvest variable costs19.6734.2725.4331.6318.3334.2217.6226.7616.26
 Subtotal417.45711.20666.21811.01505.94974.51546.31870.14534.35
Harvest costs
 Combine52.7369.4653.9765.7858.4483.0364.3980.9059.48
 Grain cart12.0318.8318.5318.4823.0123.3522.9124.9625.45
 Hauling6.2021.256.9239.149.9137.3610.1838.579.96
 Drying0.00110.700.00119.370.00113.020.00117.970.00
 Handling2.306.772.226.674.6219.625.3418.614.84
 Subtotal73.27227.0181.64249.4595.97276.38102.82281.0099.73
 Labor55.1870.0353.2768.7753.6769.8354.5675.3757.35
Property tax on owned land¶¶51.8954.3654.3655.6057.4558.6959.9260.5460.54
Total costs597.781,062.60855.481,184.82713.031,379.41763.611,287.05751.97
Average yield, Mg4.1710.974.238.403.908.972.087.273.36
Price/Mg285.82188.19369.58151.97458.85262.60519.10162.60344.23
Total revenue1,190.662,065.231,564.431,277.011,788.162,354.861,081.241,182.801,156.45
Net revenue592.881,002.63708.9492.191,075.13975.45317.62−104.25404.47
Inflation factor to 2016 USD1.161.121.121.101.071.051.031.021.02
  • All data except average yield are in 2016 USD and are reported on per hectare basis. Enterprise data reflect the average cost of purchased inputs and a return to land and labor resources only and do not consider returns to scale.

  • * Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2007. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2007.

  • Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2008. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2008.

  • Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2009. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) December 2008.

  • § Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2010. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) December 2009.

  • Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2011. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2011.

  • # Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2012. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2012.

  • Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2013. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2013.

  • ** Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2014. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2014.

  • †† Production data source: Plastina, A. Estimated Crop Production Costs in Iowa - 2015. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2015.

  • ‡‡ Period cost annualized.

  • §§ Miscellaneous costs include overhead charge accounts for items such as soil test cost, general farm utilities, farm publications, membership dues, and truck licensing fees.

  • ¶¶ The land charge assumes that all land is owned and paid off and only the annual property tax rate applies.