There are two factors that are driving this year’s Purdue Crop Cost and Return Guide. Purdue Extension agricultural economist Michael Langemeir says one of those is the expected drop in prices of corn, soybeans, and wheat. “The second factor, is more positive,” he says. “That’s the expected decline in fertilizer costs. We haven’t changed the fertilizer amounts in the guides, but the prices are quite a bit lower right now than where the were for 2013.”
Langemeier says the Crop Cost and Return Guide isn’t specific to any farm in particular. “It gives a person an idea of how market revenue should be computed (market revenue is pretty simple – usually it is Price x Yield),” he says. “More importantly it gives a person an idea of costs that need to be included and how you would calculate those costs for a specific farm, for a specific field, and for a specific enterprise.”
The guide is available for download at no cost at the Purdue University Center for Commercial Agriculture.
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