Posts tagged ‘soybean budget’

2010 Ohio Corn, Soybean and Wheat Enterprise Budgets

This article was written by Barry Ward, Production Business Management, OSU Department of Agricultural, Environmental, and Development Economics:

Budgeting helps guide you through your decision making process as you attempt to commit resources to the most profitable enterprises on the farm. Crops or Livestock? Corn, Soybeans, or Wheat? We can begin to answer these questions with well thought out budgets that include all revenue and costs. Without some form of budgeting and some method to track your enterprises’ progress you’ll have difficulty determining your most profitable enterprise(s) and if you’ve met your goals for the farm.

Budgeting is often described as “penciling it out” before committing resources to a plan. Ohio State University Extension has had a long history of developing “Enterprise Budgets” that can be used as a starting point for producers in their budgeting process.

Newly updated Enterprise Budgets for 2010 have been completed and posted to the Farm Management Website of the Department of Agricultural, Environmental and Development Economics. Updated Enterprise Budgets can be viewed and downloaded from the following website:

http://aede.osu.edu/Programs/FarmManagement/Budgets/

Enterprise Budgets updated so far for 2010 include: Corn-Conservation Tillage; Soybeans-No-Till (Roundup Ready); Wheat-Conservation Tillage, (Grain & Straw).

Our enterprise budgets are compiled on downloadable Excel Spreadsheets that contain macros for ease of use. Users can input their own production and price levels to calculate their own numbers. These Enterprise Budgets have a new look with color coded cells that will enable users to plug in numbers to easily calculate bottoms lines for different scenarios. Detailed footnotes are included to help explain methodologies used to obtain the budget numbers. Starting this year we will be updating these Enterprise Budgets periodically during the year is large changes occur in price or costs. Budgets will include a date in the upper right hand corner of the front page indicating when the last update occurred.

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November 2, 2009 at 9:05 am

OSU Crop Budgets Recently Updated

Barry Ward has done a wonderful job keeping the OSU Crop Budgets updated and relevant. In this latest installment of updates Ward has noted the recent changes in fertilizer costs and crop prices which has changed the profitability outlook for field crops in the Van Wert County area.  Specific updates have been made to the corn production budgets (one budget for NH3 as the nitrogen source; one budget for UAN as nitrogen source), the soybean production budget and the wheat production budget.

OSU Extension Enterprise Budgets are compiled on downloadable Excel Spreadsheets that contain formulas for ease of use. You must have Microsoft Excel loaded on your computer to use these budgets.  You may also be able to use the spreadsheet from OpenOffice.org, but a few tweeks will have to be made on your end (I prefer you use the budgets on Microsoft Excel).  Users can input their own production and price levels to calculate their own numbers. These Enterprise Budgets have a new look with color coded cells that will enable users to plug in numbers to easily calculate bottoms lines for different scenarios. Detailed footnotes are included to help explain methodologies used to obtain the budget numbers. OSU will be updating these Enterprise Budgets periodically during the year as large changes occur in price or costs. Budgets will include a date in the upper right hand corner of the front page indicating when the last update occurred.

The budgets are available here: http://aede.osu.edu/Programs/FarmManagement/Budgets/

Full podcast available here:

March 4, 2009 at 7:00 am

Now Available: 2009 Corn, Soybean and Wheat Crop Budgets

Budgeting helps guide farmers through the decision making process to commit resources to the most profitable enterprises on the farm. Crops or Livestock? Corn, Soybeans, or Wheat? We can begin to answer these questions with well thought out budgets that include all revenue and costs. Without some form of budgeting and some method to track your enterprises’ progress you’ll have difficulty determining your most profitable enterprise(s) and if you’ve met your goals for the farm.

Budgeting is often described as “penciling it out” before committing resources to a plan. Ohio State University Extension has had a long history of developing “Enterprise Budgets” that can be used as a starting point for producers in their budgeting process.

Newly updated Enterprise Budgets for 2009 have been completed and posted to the Farm Management Website of the Department of Agricultural, Environmental and Development Economics. Updated Enterprise Budgets can be viewed and downloaded from the following website:
http://aede.osu.edu/Programs/FarmManagement/Budgets/

Enterprise Budgets updated so far for 2009 include: Corn-Conservation Tillage; Soybeans-No-Till (Roundup Ready); Wheat-Conservation Tillage, (Grain & Straw).
Our enterprise budgets are compiled on downloadable Excel Spreadsheets that contain macros for ease of use. Users can input their own production and price levels to calculate their own numbers. These Enterprise Budgets have a new look with color coded cells that will enable users to plug in numbers to easily calculate bottoms lines for different scenarios. Detailed footnotes are included to help explain methodologies used to obtain the budget numbers. Starting this year we will be updating these Enterprise Budgets periodically during the year is large changes occur in price or costs. Budgets will include a date in the upper right hand corner of the front page indicating when the last update occurred.

In addition to the newly release 2009 budgets, all of the 2008 Enterprise Budgets are available in Excel and PDF format on the OSU Farm Management Budget Website (http://aede.osu.edu/Programs/FarmManagement/Budgets/): these budgets include: corn, sobyeans, wheat, alfalfa hay, grass hay, corn silage, sweet corn (retail and wholesale), popcorn, steer, heifer, cow-calf, ewe and lamb, and dairy cow.

The Budgets are complied by Barry Ward, Assistant Professor Department of Agricultural, Environmental and Development Economics, Ohio State University.

Full podcast available here:

October 8, 2008 at 7:00 am


Notice

This blog is no longer being maintained. Information on this blog may still be relevant, but for the latest agronomic information and farm management information please visit http://corn.osu.edu and http://ohioagmanager.osu.edu, respectively.

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