Average cost of production: $4.23 corn, $10.96 soybeans

Average cost of production: $4.23 corn, $10.96 soybeans

How do your production costs look for the year ahead? Iowa State University just released its 2015 crop-production estimates, and I hope your figures look better than these guidelines. That won’t be easy, I’m afraid, but then actual costs can vary greatly.

Based on $273/acre rent, they’re talking $4.23 per bushel to produce corn and $10.96 soybeans. Wow!

You save 2¢/bushel by planting non-traited soybeans, and another 2-8¢ by strip-tilling instead of conventional tilling.

2015 crop production budgets

 

Corn following soybeans

 

Soybean following corn

 

 

Cost/acre

Cost/bushel

Cost/acre

Cost/bushel

Strip-till*

$764.54

$4.15

$547.12

$10.94

Conventional tillage

$760.81

$4.23

$547.80

$10.96

Conventional tillage, non-traited

 

 

$545.99

$10.92

*Herbicide-resistant soybeans

These figures reflect rent of $273/acre, $13/hr. labor, 180-bu. corn yields and 50-bu. soybean yields. Conventional tillage includes tandem disk, field cultivation, plant and spray.

Check out the full details from ISU (pdf). 

TAGS: Soybeans
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