Page 1 of the budgeting tool.

Crop Budget Estimator (All Crops)

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August 4, 2021 - Author: Jonathan P. LaPorte,

The Crop Budget Estimator tool is designed to assist with budget planning for any crop.  It is a Microsoft Excel based tool built around key areas that producers need to consider as they plan for and continually evaluate their growing season. It combines in one place:

  • Marketing Goals
  • Yield Goals
  • Break-Evens of:
    • Net Farm Income
    • Cash Flow

The crop budget estimator also features an Optimization Tool.  Using the budgets created in the estimator, the optimization tool will determine what combination of acres returns the highest profitability.  Producers define:

  • Maximum total operating costs
  • Minimum acres of planned crops to be planted (for maintaining rotational needs)
  • Total number of acres to be planted

For those looking for an expanded analysis, producers can also use tools designed for more specific crops:

  • Crop Budget Estimator for Grains (Simple). Similar to the general tool, but focuses on corn, soybeans, and wheat. It offers an industry comparison budget, based on actual farm data collected from across the Midwest.

  • Crop Budget Estimator for Grains (Detailed). A more in-depth tool, users can use information from their own farm records to build a budget that is used for:
    • Marketing decisions
    • Comparing Chemistry and Fertilizer programs
    • Evaluate Capital Purchases (i.e. a new tractor or combine)
    • And other important management decisions for their farm

  •  Crop Budget Estimator for Forages (Simple). Also similar to the simple tool for grains, but focuses on Alfalfa, Alfalfa/Grass, or Grass Hay production. It also offers an industry comparison budget, based on actual farm data collected from across the Midwest.

  • Crop Budget Estimator for Forages (Detailed). Similar to the detailed tool for grains, it offers users the opportunity to use a farm's own records towards a more in-depth budgeting plan for forage crops.

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Tags: agriculture, farm management, field crops, firm budgets & cost of production cost of production tools, forages, fruit & nuts, msu extension, small grains, vegetables

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