| Table 3. Rotational Soybeans for Low, Average, And High Productivity Soils | |||||||||||
| Low | Medium | High | |||||||||
| productivity soil | productivity soil | productivity soil | |||||||||
| Price | Value | Value | Value | ||||||||
| Unit | per unit | Quantity | per acre | Quantity | per acre | Quantity | per acre | ||||
| Production and revenue | |||||||||||
| Soybeans | bu. | $5.40 | 37.1 | $200.36 | 46.0 | $248.40 | 56.6 | $305.73 | |||
| Other revenue | $/acre | $0.00 | $0.00 | $0.00 | |||||||
| Total revenue | $200.36 | $248.40 | $305.73 | ||||||||
| Direct Charges | |||||||||||
| Phosphate | lb. | $0.18 | 29.7 | $5.34 | 36.8 | $6.62 | 45.3 | $8.15 | |||
| Potash | lb. | $0.13 | 71.9 | $9.35 | 84.4 | $10.97 | 99.3 | $12.90 | |||
| Total fertilizer & lime | $14.69 | $17.59 | $21.05 | ||||||||
| Soybean seed | 50 lb. Bag | $20.00 | 1.30 | $26.00 | 1.30 | $26.00 | 1.30 | $26.00 | |||
| Round-Up Ultra | qt. | $8.75 | 1.5 | $13.13 | 1.5 | $13.13 | 1.5 | $13.13 | |||
| Soybean herb | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| Total chemicals | $13.13 | $13.13 | $13.13 | ||||||||
| Grain handling | bu. | $0.020 | 37.1 | $0.74 | 46.0 | $0.92 | 56.6 | $1.13 | |||
| Hauling - Soybeans | bu. | $0.060 | 37.1 | $2.23 | 46.0 | $2.76 | 56.6 | $3.40 | |||
| Machinery fuel | gal. | $1.20 | 7.0 | $8.40 | 8.0 | $9.60 | 9.0 | $10.80 | |||
| Machinery repairs | acre | $1.00 | 8.00 | $8.00 | 9.00 | $9.00 | 10.00 | $10.00 | |||
| Crop insurance | acre | $1.00 | 3.50 | $3.50 | 3.50 | $3.50 | 3.50 | $3.50 | |||
| Miscellaneous | acre | $1.00 | 4.00 | $4.00 | 4.00 | $4.00 | 4.00 | $4.00 | |||
| Interest on direct charges | percent | 9.50% | $46.47 | $4.41 | $49.19 | $4.67 | $52.34 | $4.97 | |||
| Total direct charges | $85.10 | $91.17 | $97.98 | ||||||||
| Overhead charges | |||||||||||
| Machinery replacement | bu. | $52.10 | $52.10 | $52.10 | |||||||
| Drying/handling equip & facilities | percent | $7.20 | $7.20 | $7.20 | |||||||
| Family & hired labor | percent | $37.00 | $37.00 | $37.00 | |||||||
| Land | $/bu. | $98.00 | $121.00 | $150.00 | |||||||
| Total overhead charges | $194.30 | $217.30 | $246.30 | ||||||||
| Total Expenses | $279.40 | $308.47 | $344.28 | ||||||||
| Summary | |||||||||||
| Revenue less direct charges | $/acre | $115.26 | $157.23 | $207.75 | |||||||
| Direct charges per bushel | $/bu. | $2.29 | $1.98 | $1.73 | |||||||
| Revenue less total charges | $/acre | -$79.04 | -$60.07 | -$38.55 | |||||||
| Total charges per bushel | $/bu. | $7.53 | $6.71 | $6.08 | |||||||
| Government payment1 | $/acre | $5.19 | $6.44 | $7.92 | |||||||
| Revenue + government payment | |||||||||||
| less direct charges | $/acre | $120.45 | $163.67 | $215.67 | |||||||
| Revenue + government payment | $/acre | ||||||||||
| less total charges | -$73.85 | -$53.63 | -$30.63 | ||||||||
| 1 | Government payments are based on the assumption that soybean yields are 37.1, 46, and 56.6 for low, average, and high yield soils. | ||||||||||
| The payment rate is $0.14 per bushel. | |||||||||||