Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2010 through 2015, Projected 2016 and 2017

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2010 through 2015, Projected 2016 and 2017"

Transcription

1 CROP COSTS Department of Agricultural and Consumer Economics University of Illinois Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2010 through 2015, Projected 2016 and 2017 Department of Agricultural and Consumer Economics University of Illinois September 2016

2 Introduction Gary Schnitkey Department of Agricultural and Consumer Economics University of Illinois September 2016 This publication presents revenues and costs for producing corn, soybeans, wheat, and double-crop soybeans in three regions of Illinois: northern, central, and southern Illinois. Central Illinois is further divided into categories for high-productivity farmland and lowproductivity farmland. Divisions between high and low farmland productivity are made based on soil productivity ratings. Generally, farms with higher soil productivity ratings have higher yields. Between 2009 and 2014, corn yields on high productivity farmland averaged 181 bushels per acre while corn yields on low productivity farmland averaged 169 bushels. This publication includes ten tables: 1. Corn Revenue and Costs, Northern Illinois 2. Soybean Revenue and Costs, Northern Illinois 3. Corn Revenue and Costs, Central Illinois with High Productivity Farmland 4. Soybean Revenue and Costs, Central Illinois with High Productivity Farmland 5. Corn Revenue and Costs, Central Illinois with Low Productivity Farmland 6. Soybean Revenue and Costs, Central Illinois with Low Productivity Farmland 7. Corn Revenue and Costs, Southern Illinois 8. Soybean Revenue and Costs, Southern Illinois 9. Wheat Revenue and Costs, Southern Illinois 10. Double-Crop Soybean Revenue and Costs, Southern Illinois Each table shows revenues and costs for 2009 through These financial results are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Results for 2015 and 2016 are projections made based on expected yields, prices on futures exchanges, and input prices. All revenues associated with crop production are included in the tables. Revenues include crop revenue, Agricultural Risk Coverage (ARC) payments, Price Loss Coverage (PLC) payments, Average Crop Revenue Election (ACRE) payments, other government payments, and crop insurance payments. Crop revenue represents returns from marketed grain and equals yield times price per bushel. Price per bushel represents a market year average price that farmers received for grain. Crop insurance represents average indemnity payments from crop insurance. Non-land costs are divided into 1) direct costs costs that can be directly attributable to the production of the crop, 2) power costs costs generally related to machinery operations, and 3) overhead costs costs associated with general operation of the farm.

3 These costs are accrued so that they are associated with the year of production. For example, fertilizer costs for 2010 may have been incurred in Any fertilizer expense associated with 2010 production paid in 2009 is associated with 2010 production. Subtracting non-land costs from revenue yields operator and land return. This is the return remaining to pay for farmland and provide a return to the operator. In a cash rent situation, the payment for farmland is cash rent. If the operator and land return is $170 per acre and cash rent is $150 then the farmer return is $20 per acre. An average land costs is included in this publication. Land costs represent a charge for use of the land. In this publication, land costs equal the average cash rent paid by farmers to land owners. This data is obtained from the Nationally Agricultural Statistical Service. Other means of controlling farmland, such as owning farmland or share-renting farmland, could have different costs. Farmer return is then reported. Farmer return equals operator and land return minus land costs. This is the amount that farmers have to provide a return for unpaid labor, equity capital invested in the farm, and management. Farmer return is equivalent to net farm income per acre. Acknowledgments: Much of the data used in these budgets comes from the local Farm Business Farm Management (FBFM) Associations across the State of Illinois. Without their cooperation, information as comprehensive and accurate as this would not be available for educational purposes. FBFM, which consists of 5,500 plus farmers and 60 professional field staff, is a not-for-profit organization available to all farm operators in Illinois. FBFM field staff provides on-farm counsel with computerized recordkeeping, farm financial management, business entity planning and income tax management. For more information, please contact the State FBFM Office located at the University of Illinois Department of Agricultural and Consumer Economics at or visit the FBFM website at

4 Table 1. Corn Revenues and Costs, Northern Illinois Yield per acre Price per bu $5.03 $6.10 $6.75 $4.61 $3.91 $3.77 $3.30 $3.50 Crop revenue $875 $1,080 $965 $940 $813 $731 $686 $683 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $917 $1,110 $1,161 $1,009 $897 $813 $711 $683 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $301 $362 $417 $439 $431 $401 $370 $355 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $108 $113 $129 $150 $161 $142 $140 $135 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $67 $74 $75 $81 $83 $83 $84 $83 Total non-land costs $476 $549 $621 $670 $675 $626 $594 $573 Operator and land return $441 $561 $540 $339 $222 $187 $117 $110 Land costs Farmer return $253 $339 $293 $77 -$43 -$65 -$125 -$113 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

5 Table 2. Soybean Revenues and Costs, Northern Illinois Yield per acre Price per bu $11.31 $12.71 $14.51 $13.21 $10.49 $9.18 $9.20 $9.10 Crop revenue $633 $763 $740 $779 $640 $560 $598 $555 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $661 $790 $788 $804 $682 $622 $622 $555 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $123 $145 $167 $174 $176 $161 $152 $141 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $88 $87 $117 $130 $137 $122 $142 $112 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $54 $59 $60 $63 $64 $65 $66 $64 Total non-land costs $265 $291 $344 $367 $377 $348 $360 $317 Operator and land return $396 $499 $444 $437 $305 $274 $262 $238 Land costs Farmer return $208 $277 $197 $175 $40 $22 $20 $16 Net farmer profit $136 $189 $112 $83 -$52 -$70 -$72 $16 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

6 Table 3. Corn Revenues and Costs, Central Illinois -- High Productivity Farmland, Yield per acre Price per bu $5.07 $6.24 $6.93 $4.52 $3.76 $3.77 $3.30 $3.50 Crop revenue $852 $1,086 $873 $890 $869 $754 $762 $700 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $908 $1,133 $1,192 $973 $883 $830 $787 $700 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $314 $362 $405 $432 $422 $403 $360 $343 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $86 $87 $117 $127 $132 $122 $121 $115 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $52 $54 $59 $56 $63 $65 $66 $65 Total non-land costs $452 $503 $581 $615 $617 $590 $547 $523 Operator and land return $456 $630 $611 $358 $266 $240 $240 $177 Land costs Farmer return $241 $382 $341 $68 -$27 -$38 -$28 -$68 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

7 Table 4. Soybean Revenues and Costs, Central Illinois -- High Productivity Farmland, Yield per acre Price per bu $11.47 $12.75 $14.66 $13.35 $10.67 $9.08 $9.20 $9.10 Crop revenue $688 $714 $733 $774 $683 $599 $653 $555 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $717 $749 $783 $802 $692 $651 $677 $555 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $149 $173 $198 $201 $202 $197 $173 $161 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $76 $80 $101 $110 $117 $107 $108 $99 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $48 $50 $54 $57 $59 $59 $61 $60 Total non-land costs $273 $303 $353 $368 $378 $363 $342 $320 Operator and land return $444 $446 $430 $434 $314 $288 $335 $235 Land costs Farmer return $229 $198 $160 $144 $21 $10 $67 -$10 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

8 Table 5. Corn Revenues and Costs, Central Illinois -- Low Productivity Farmland, Yield per acre Price per bu $5.03 $6.21 $6.77 $4.51 $3.83 $3.82 $3.30 $3.50 Crop revenue $790 $981 $779 $825 $823 $707 $710 $648 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $846 $1,028 $1,098 $908 $837 $781 $733 $678 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $310 $363 $424 $440 $422 $408 $362 $345 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $95 $98 $121 $131 $135 $127 $126 $120 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $54 $60 $65 $67 $65 $66 $67 $66 Total non-land costs $459 $521 $610 $638 $622 $601 $555 $531 Operator and land return $387 $507 $488 $270 $215 $180 $178 $147 Land costs Farmer return $199 $299 $255 $30 -$28 -$50 -$43 -$54 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

9 Table 6. Soybean Revenues and Costs, Central Illinois -- Low Productivity Farmland, Yield per acre Price per bu $11.43 $12.76 $14.46 $13.21 $10.51 $9.13 $9.20 $9.10 Crop revenue $617 $664 $680 $700 $641 $557 $607 $501 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $646 $699 $730 $728 $650 $607 $629 $501 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $129 $152 $177 $168 $159 $178 $165 $132 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $84 $84 $104 $106 $117 $107 $107 $98 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $49 $53 $56 $56 $57 $59 $61 $60 Total non-land costs $262 $289 $337 $330 $333 $344 $333 $290 Operator and land return $384 $410 $393 $398 $317 $263 $296 $211 Land costs Farmer return $196 $202 $160 $158 $74 $33 $76 $11 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

10 Table 7. Corn Revenues and Costs, Southern Illinois, Yield per acre Price per bu $5.22 $6.39 $6.84 $4.69 $3.94 $3.85 $3.30 $3.50 Crop revenue $773 $901 $383 $858 $764 $628 $604 $571 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $807 $963 $936 $918 $773 $701 $629 $571 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $297 $336 $383 $419 $402 $378 $338 $322 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $104 $115 $132 $144 $146 $142 $135 $129 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $66 $61 $77 $83 $89 $93 $94 $95 Total non-land costs $467 $512 $592 $646 $637 $613 $567 $546 Operator and land return $340 $451 $344 $272 $136 $88 $62 $25 Land costs Farmer return $215 $314 $200 $112 -$27 -$71 -$89 -$111 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

11 Table 8. Soybean Revenues and Costs, Southern Illinois, Yield per acre Price per bu $11.70 $12.86 $14.54 $13.43 $10.46 $9.11 $9.20 $9.10 Crop revenue $573 $566 $596 $658 $575 $474 $506 $446 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $601 $616 $684 $694 $582 $536 $530 $446 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $139 $156 $170 $192 $191 $169 $161 $148 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $101 $101 $119 $136 $123 $132 $127 $122 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $57 $59 $67 $72 $75 $79 $78 $75 Total non-land costs $297 $316 $356 $400 $389 $380 $366 $345 Operator and land return $304 $300 $328 $294 $193 $156 $164 $101 Land costs Farmer return $179 $163 $184 $134 $30 -$3 $13 -$34 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

12 Table 9. Wheat Revenues and Costs, Southern Illinois, Yield per acre Price per bu $ $7.13 $6.45 $5.50 $5.00 $3.70 $4.20 Crop revenue $337 $400 $513 $490 $374 $330 $285 $294 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $366 $433 $534 $515 $394 $368 $305 $294 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $151 $178 $178 $190 $202 $190 $159 $144 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $87 $96 $111 $126 $128 $125 $123 $117 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $56 $53 $60 $63 $63 $62 $65 $65 Total non-land costs $294 $327 $349 $379 $393 $377 $347 $326 Operator and land return $72 $106 $185 $136 $1 -$9 -$42 -$32 Land costs Farmer return -$53 -$31 $41 -$24 -$162 -$168 -$193 -$167 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

13 Table 10. Double-Crop Soybean Revenues and Costs, Southern Illinois, Yield per acre Price per bu $11.70 $12.86 $14.54 $13.43 $10.46 $9.11 $ Crop revenue $351 $463 $247 $430 $460 $310 $294 $300 ARC/PLC or ACRE Other gov't payments Crop insurance proceeds Gross revenue $351 $467 $259 $438 $465 $316 $294 $300 Fertilizers Pesticides Seed Drying Storage Crop insurance Total direct costs $86 $108 $116 $128 $123 $119 $110 $105 Machine hire/lease Utilities Machine repair Fuel and oil Light vehicle Mach. depreciation Total power costs $78 $76 $90 $93 $97 $96 $96 $92 Hired labor Building repair and rent Building depreciation Insurance Misc Interest (non-land) Total overhead costs $27 $29 $33 $31 $31 $31 $31 $31 Total non-land costs $191 $213 $239 $252 $251 $246 $237 $228 Operator and land return $160 $254 $20 $186 $214 $70 $57 $72 Land costs Farmer return $160 $254 $20 $186 $214 $70 $57 $72 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and Land costs and farmer return are only applied to the wheat budget.

Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016

Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016 CROP COSTS Department of Agricultural and Consumer Economics University of Illinois Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016 Department

More information

CROP BUDGETS, ILLINOIS, 2014

CROP BUDGETS, ILLINOIS, 2014 CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2014 Department of Agricultural and Consumer Economics University of Illinois June 2014 Introduction

More information

University of Illinois CROP BUDGETS. Consumer Economics

University of Illinois CROP BUDGETS. Consumer Economics CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2013 Department of Agricultural and Consumer Economics University of Illinois July 2013 Introduction

More information

CROP BUDGETS, ILLINOIS, 2015

CROP BUDGETS, ILLINOIS, 2015 CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2015 Department of Agricultural and Consumer Economics University of Illinois September 2015

More information

Repayment Capacity Analysis

Repayment Capacity Analysis Repayment Capacity Analysis With this program, the user can estimate the cash needs required to meet living, debt, and investment payments plus evaluate the risks and returns for seven different types

More information

Farmland Lease Analysis: Program Overview. Navigating the Farmland Lease Analysis program

Farmland Lease Analysis: Program Overview. Navigating the Farmland Lease Analysis program Farmland Lease Analysis: Program Overview The farmland lease analysis program is used to aid tenants and landlords in determining the returns and risks from different farmland leases. The program offers

More information

Crop Input and Technology Decisions: Risk Management. Gary Schnitkey University of Illinois

Crop Input and Technology Decisions: Risk Management. Gary Schnitkey University of Illinois Crop Input and Technology Decisions: Risk Management Gary Schnitkey University of Illinois Topics 1. General economic principles related to input choice 2. Corn versus soybean choice 3. Crop insurance

More information

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction Crop-Share and Cash Rent Lease Comparisons Version 1.6 Alan Miller and Craig L. Dobbins Spreadsheet can be found at http://www.agecon.purdue.edu/extension/pubs/farmland_values.asp Introduction This spreadsheet

More information

Contents. Acknowledgements... iv. Source of Data...v

Contents. Acknowledgements... iv. Source of Data...v Kentucky Farm Business Management Program Annual Summary Data: Kentucky Grain Farms - 2011 Agricultural Economics Extension No. 2012-17 June 2012 By: Amanda R. Jenkins Michael C. Forsythe University of

More information

Estimating Cash Rental Rates for Farmland

Estimating Cash Rental Rates for Farmland Estimating Cash Rental Rates for Farmland Tenant operators farm more than half of the crop land in Iowa. Moreover, nearly 70 percent of the rented crop land is operated under a cash lease. Cash leases

More information

Breakeven Analysis. Takes the user to the data input worksheet of the tool.

Breakeven Analysis. Takes the user to the data input worksheet of the tool. Breakeven Analysis This program allows the user to calculate breakeven price and yield levels and prepare projected net farm income and cash flow statements. The Breakeven Analysis program assists farm

More information

Evaluating Taking Prevented Planting Payments for Corn

Evaluating Taking Prevented Planting Payments for Corn May 30, 2013 Evaluating Taking Prevented Planting Payments for Corn Permalink URL http://farmdocdaily.illinois.edu/2013/05/evaluating-prevented-planting-corn.html Due to continuing wet weather, some farmers

More information

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Recording Transactions in the Date Cash Journal Description Value Amount (bu., lb.,

More information

Quick Cash Flow Projections

Quick Cash Flow Projections Quick Cash Flow Projections The Quick Cash Flow Projections tool assists farm operators in projecting cash needs, farm profitability, and debt servicing capabilities. The program also aids users in performing

More information

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE 02.03.16 JEFF RODIBAUGH FIRST FARMERS BANK & TRUST POLL: 2016 CORN BELT SEED CONFERENCE 1. You believe there

More information

Cash to Accrual Income Approximation

Cash to Accrual Income Approximation Cash to Accrual Income Approximation With this program, the user can estimate accrual income using the Schedule F from his/her federal income tax return. Fast Tools & Resources Farmers typically report

More information

How much did your farm business earn last year?

How much did your farm business earn last year? Your Farm Ag Decision Maker Income Statement File C3-25 How much did your farm business earn last year? Was it profitabile? There are many ways to answer these questions. A farm income statement (sometimes

More information

Farm Financial Management

Farm Financial Management Farm Financial Management Your Farm Income Statement How much did your farm business earn last year? There are many ways to answer this question. A farm income statement (sometimes called a profit and

More information

The financial position and performance of a farm

The financial position and performance of a farm Farm Financial Ag Decision Maker Statements File C3-56 The financial position and performance of a farm business can be summarized by four important financial statements. The relationship of these statements

More information

CHOOSING AMONG CROP INSURANCE PRODUCTS

CHOOSING AMONG CROP INSURANCE PRODUCTS CHOOSING AMONG CROP INSURANCE PRODUCTS Gary Schnitkey Department of Agricultural and Consumer Economics University of Illinois at Urbana-Champaign Email: schnitke@uiuc.edu, Phone: (217) 244-9595 August

More information

Assessing and Improving Farm Profitability

Assessing and Improving Farm Profitability 1 Fact Sheet 539 Assessing and Improving Farm Profitability Is my farm making money? This is a question farm managers think about often. To stay in business, the farm must generate a profit, at least in

More information

Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska

Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska Daniel M. O Brien Extension Agricultural Economist K-State Research and Extension Northwest Research

More information

Missouri Soybean Economic Impact Report

Missouri Soybean Economic Impact Report Missouri Soybean Economic Report State Analysis March 2014 The following soybean economic impact values were estimated by Value Ag, LLC, as part of a Missouri Soybean Merchandising Council funded project.

More information

Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for

Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for 1 2 3 Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for application in the crop enterprise budgets. 4 Whole

More information

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c.

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c. Schedule F (Form 1040), Profit or Loss From Farming Note. Schedule F has numerous changes for 2011. In addition, there are a number of lines that the IRS has decided not to use in 2011, but appear on the

More information

Costs and Returns on Dry-Land Wheat Farms

Costs and Returns on Dry-Land Wheat Farms Costs and Returns on Dry-Land Wheat Farms (Waico- Gautttif., QietfOti, 1952) D. Curtis Mumford Agricultural Experiment Station Oregon State College Corvallis Circular of Information 541 April 1954 Costs

More information

Cost of Production. Cost of Production. Cost of Production!

Cost of Production. Cost of Production. Cost of Production! Cost of Production Versus Cost of Production And then there is, Cost of Production! Ken Bolton and Gary Frank Introduction September 2009 Historically business advisors have encouraged farm managers to

More information

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University Enterprise Budgeting By: Rod Sharp and Dennis Kaan Colorado State University One of the most basic and important production decisions is choosing the combination of products or enterprises to produce.

More information

Costs to Produce Hogs in IllinoisC2007

Costs to Produce Hogs in IllinoisC2007 Costs to Produce Hogs in IllinoisC2007 University of Illinois Farm Business Management Resources FBM-0150 Costs to Produce Hogs in IllinoisC2007 Dale H. Lattz Extension Specialist, Farm Management Department

More information

Establishing and Using a Farm Financial Record-Keeping System

Establishing and Using a Farm Financial Record-Keeping System PB 1540 Establishing and Using a Farm Financial Record-Keeping System Delton C. Gerloff, Associate Professor, Agricultural Economics Robert W. Holland Jr., Assistant Area Specialist - Farm Management For

More information

January 7, 2014 1/10/2014. Genuine People. Creative Ideas. Valuable Results. Copyright Kennedy and Coe, LLC 2012 All rights reserved.

January 7, 2014 1/10/2014. Genuine People. Creative Ideas. Valuable Results. Copyright Kennedy and Coe, LLC 2012 All rights reserved. January 7, 2014 1 Alan Grafton University of Mississippi BBA Finance 1992 MBA University of Memphis 2004 United Agri Products 1995 2001 Ag Services of America 2001 2003 AgKnowledge 2003 2013 Kennedy &

More information

Income Statement A Financial Management Tool

Income Statement A Financial Management Tool E-484 RM5-6.0 09-08 Risk Management Income Statement A Financial Management Tool Danny Klinefelter* An income statement measures the success of a business, in terms of net income or loss, for a period

More information

Will ARC Allow Farmers to Cancel Their 2014 Crop Insurance (Updated)? 1

Will ARC Allow Farmers to Cancel Their 2014 Crop Insurance (Updated)? 1 Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial

More information

Educational Efforts With FAST Tools

Educational Efforts With FAST Tools Educational Efforts With FAST Tools By Paul N. Ellinger 1 farmdoc companion project initiated in 1999 FAST Tools Development of spreadsheet-based tools to aid decisions for producers, lenders, consultants

More information

How much financing will your farm business

How much financing will your farm business Twelve Steps to Ag Decision Maker Cash Flow Budgeting File C3-15 How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning

More information

This article illustrated deferred tax liabilities for a cash crop farm in west central Indiana. The

This article illustrated deferred tax liabilities for a cash crop farm in west central Indiana. The September 2014 Computation of Deferred Liabilities Michael Langemeier, Associate Director, Center for Commercial Agriculture This article is one of a series of financial management articles that will examine

More information

Farm Business Analysis Report BEEF SUMMARY

Farm Business Analysis Report BEEF SUMMARY Extension No. M M-356 ESQ No. 490 1977 Farm Business Analysis Report BEEF SUMMARY Department of Agricultural Economics and Rural Sociology Cooperative Extension Service The Ohio State University Columbus,

More information

Farm Sector Income & Finances 2015 Outlook. By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA

Farm Sector Income & Finances 2015 Outlook. By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA Farm Sector Income & Finances 2015 Outlook By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA Net cash and net farm income forecast below 10-year moving average for first time since 2009

More information

ARC/PLC Program Overview

ARC/PLC Program Overview ARC/PLC Program Overview FSA and University of MN Extension Producer Meetings December 2014 January 2015 The 2014 Farm Bill provides the following: Eliminates DCP and ACRE program Allows for a one-time

More information

Would you like to know more about the

Would you like to know more about the Your Net Worth Ag Decision Maker Statement File C3-20 Would you like to know more about the current financial situation of your farming operation? A simple listing of the property you own and the debts

More information

Tennessee Agricultural Production and Rural Infrastructure

Tennessee Agricultural Production and Rural Infrastructure Tennessee Trends in Agricultural Production and Infrastructure Highlights - In many states the percentage of the state population designated by the U.S. Census Bureau as living in rural areas has declined,

More information

Cash Flow Analysis Worksheets

Cash Flow Analysis Worksheets Cash Flow Analysis Worksheets Trent Teegerstrom Introduction This article describes the cash budget and analysis worksheets available for downloading at the Department of Agricultural and Resource Economics

More information

Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet

Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet November, 2003 Kevin Dhuyvetter, K-State Ag. Economics (785-532-3527; kcd@ksu.edu) Terry Kastens, K-State Ag.

More information

Financial Management: Cash vs. Accrual Accounting

Financial Management: Cash vs. Accrual Accounting E-475 RM5-16.0 10-08 Risk Management Financial Management: Cash vs. Accounting Danny Klinefelter, Dean McCorkle and Steven Klose* Selecting a record-keeping system is an important decision for agricultural

More information

Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values. Michael Langemeier Center for Commercial Agriculture Purdue University

Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values. Michael Langemeier Center for Commercial Agriculture Purdue University Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values Michael Langemeier Center for Commercial Agriculture Purdue University Background The magnitude of the impact of crop insurance

More information

Farm Record Keeping and Financial Analysis

Farm Record Keeping and Financial Analysis Indiana Small Farms Conference 2013 Farm Record Keeping and Financial Analysis Alan Miller Farm Business Management Specialist March 1, 2013 Farm Records Opening discussion question What is the best reason

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Crop Share Lease Agreements Quick Notes... 1. Crop share lease agreements reduce risks for both parties. 2. Input costs are shared by both parties. 3. Local share

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... SPA Standardized Performance Analysis For Sheep Producers -- A Worksheet Approach -- Sheep producers have been challenged to be lower cost producers, to become

More information

Estimated Costs of Crop. Production in Iowa - 2016 File A1-20 The estimated costs of corn, corn silage, Ag Decision Maker

Estimated Costs of Crop. Production in Iowa - 2016 File A1-20 The estimated costs of corn, corn silage, Ag Decision Maker Estimated Costs of Crop Ag Decision Maker Production in Iowa - 2016 File A1-20 The estimated costs of corn, corn silage, soybeans, alfalfa, and pasture maintenance in this report are based on data from

More information

AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone #

AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone # AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone # For the purpose of obtaining credit from Ramsey National Bank (RNB) and any future credit granted by the RNB, or to support an

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Preparing an Income Statement Quick Notes... The income statement measures the profitability of a business over a specific period of time. Cash reporting of income

More information

Using Enterprise Budgets in Farm Financial Planning

Using Enterprise Budgets in Farm Financial Planning Oklahoma Cooperative Extension Service AGEC-243 Using Enterprise Budgets in Farm Financial Planning Damona Doye Regents Professor and Extension Economist Roger Sahs Extension Assistant Oklahoma Cooperative

More information

Farm Tax Record Book SAMPLE

Farm Tax Record Book SAMPLE Farm Tax Record Book TABLE OF CONTENTS Farm Receipts... Milk Sales and Deductions Worksheet... Government Payments Worksheet... Commodity Certificates... Sale of Livestock Worksheet... Farm Expenses...0

More information

Section II: Problem Solving (200 points) KEY

Section II: Problem Solving (200 points) KEY ARE 495U Assignment 2-10 points Create 5 or more marketing plan questions that need to be answered related to FF. 2013 North Carolina FFA Farm Business Management Career Development Event Section II: Problem

More information

The estimated costs of corn, corn silage,

The estimated costs of corn, corn silage, Estimated Costs of Crop Ag Decision Maker Production in Iowa - 2015 File A1-20 The estimated costs of corn, corn silage, soybeans, alfalfa, and pasture maintenance in this report are based on data from

More information

A Quick Reference Guide to Farm Bill Options

A Quick Reference Guide to Farm Bill Options Staff Report No. 2015-03 February 2015 A Quick Reference Guide to Farm Bill Options Michael A. Deliberto Louisiana State University Agricultural Center Department of Agricultural Economics & Agribusiness

More information

3.7 Implied Labor Hours

3.7 Implied Labor Hours 3.7 Implied Labor Hours USDA data for the period 1990 through 2011 is presented to describe the implied amount of labor that is used to produce an acre and unit of output (e.g., labor hours per bushel

More information

3.3 Real Returns Above Variable Costs

3.3 Real Returns Above Variable Costs 3.3 Real Returns Above Variable Costs Several factors can impact the returns above variable costs for crop producers. Over a long period of time, sustained increases in the growth rate for purchased inputs

More information

Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems

Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems Clark F. Seavert Extension Economist Oregon State University Changes in agricultural production, technology

More information

Computerized Farm Records

Computerized Farm Records Computerized Farm Records Peg Brune ~ Dodge, NE 402-693-2801 Email: brune@skyww.net Agricultural Bookkeeping: Quickbooks or Quicken???? Accounting: Accountants prefer Quickbooks, mostly because a lot of

More information

Using Enterprise Budgets To Make Decisions about Your Farm Richar d Carkner

Using Enterprise Budgets To Make Decisions about Your Farm Richar d Carkner PNW0535 Using Enterprise Budgets To Make Decisions about Your Farm Richar d Carkner A Pacific Northwest Extension Publication Washington Oregon Idaho Enterprise budgets are important decision making tools.

More information

Purdue Agricultural Economics Report

Purdue Agricultural Economics Report Purdue Agricultural Economics Report August 2013 Up Again: Indiana s Farmland Market in 2013 Craig Dobbins, Professor and Kim Cook, Research Associate While the 2012 Indiana crop suffered from the worst

More information

Setting up your Chart of Accounts

Setting up your Chart of Accounts FARM FUNDS WORKSHEETS Setting up your Chart of Accounts Supplies Supplies are any inputs that will be used on a field, group of livestock, or equipment. Setting up a supply will set up the related expense

More information

Title I Programs of the 2014 Farm Bill

Title I Programs of the 2014 Farm Bill Frequently Asked Questions: Title I Programs of the 2014 Farm Bill November 2014 Robin Reid G.A. Art Barnaby Mykel Taylor Extension Associate Extension Specialist Assistant Professor Kansas State University

More information

CORPORATE ACCRUAL TO TAX CONVERSION WORKSHEET

CORPORATE ACCRUAL TO TAX CONVERSION WORKSHEET CORPORATE ACCRUAL TO TAX CONVERSION WORKSHEET Taxable entities who have filed tax returns with Canada Revenue Agency (CRA) on a cash basis and have their financial statements prepared on an accrual basis

More information

Agricultural Income Tax Issues - An Educational Module Offered by the University of Wyoming

Agricultural Income Tax Issues - An Educational Module Offered by the University of Wyoming Agricultural Income Tax Issues - An Educational Module Offered by the University of Wyoming Important Aspects of Financial Records Prepared by Jeffrey E. Tranel John P. Hewlett Rodney L. Sharp Keeping

More information

Iowa s Beginning Farmer Loan and Tax Credit Programs. Iowa Agricultural Development Division

Iowa s Beginning Farmer Loan and Tax Credit Programs. Iowa Agricultural Development Division Iowa s Beginning Farmer Loan and Tax Credit Programs Iowa Agricultural Development Division 1 IADD Programs Beginning Farmer Loan Program (BFLP) Loan Participation Program (LPP) Beginning Farmer Tax Credit

More information

St John Site, No-Till

St John Site, No-Till CSANR-09-03 December 2009 St John Site, No-Till Photo: Terry Day 2009 Crop Rotation Budgets for 15" to 18" Precipitation Zone Dryland Grain Producing Region of the NW Wheat & Range Region Climate Friendly

More information

CONDUCTING A COST ANALYSIS

CONDUCTING A COST ANALYSIS CONDUCTING A COST ANALYSIS Jennie S. Popp Department of Agricultural Economics & Agribusiness University of Arkansas Fayetteville, AR 72701 George Westberry, Retired Department of Agricultural & Applied

More information

Cash Flow Projection for Operating Loan Determination

Cash Flow Projection for Operating Loan Determination E-19 RM-7.0 02-09 Risk Management Cash Flow Projection for Operating Loan Determination Danny Klinefelter and Dean McCorkle* A cash flow statement can be simply described as a record of the dollars coming

More information

Instruction Sheet for Recordkeeping Template: Monthly Operational Expenses for Farm

Instruction Sheet for Recordkeeping Template: Monthly Operational Expenses for Farm Instruction Sheet for Recordkeeping Template: The intent of this table is to provide a place for recording farm expenses that you incurred and paid in the tax year. Generally, farmers can deduct the current

More information

AGRICULTURAL LOAN APPLICATION

AGRICULTURAL LOAN APPLICATION AGRICULTURAL LOAN APPLICATION REQUESTED LOAN AMOUNT PURPOSE APPLICANT TYPE INDIVIDUAL JOINT CORPORATION PARTNERSHIP OTHER REQUESTED LOAN TYPE OPERATING LINE OF CREDIT TERM EQUIPMENT REAL ESTATE INDIVIDUAL

More information

How Crop Insurance Works. The Basics

How Crop Insurance Works. The Basics How Crop Insurance Works The Basics Behind the Policy Federal Crop Insurance Corporation Board of Directors Approve Policies Policy changes General direction of program Risk Management Agency Administers

More information

1. Prices now 2. TA APH yield endorsement 3. Re-rating 4. Suggestions

1. Prices now 2. TA APH yield endorsement 3. Re-rating 4. Suggestions Crop Insurance Update Gary Schnitkey University of Illinois Topics 1. Prices now 2. TA APH yield endorsement 3. Re-rating 4. Suggestions 2 1 Combo Product and Old Products Type COMBO Product Old Product

More information

Machinery Cost Estimates: Field Operations

Machinery Cost Estimates: Field Operations Machinery Cost Estimates: Field Operations Department of Agricultural and Consumer Economics College of Agricultural, Consumer and Environmental Sciences University of Illinois at Urbana-Champaign MACHINERY

More information

Leasing vs. Buying Farm Machinery

Leasing vs. Buying Farm Machinery Leasing vs. Buying Farm Machinery Department of Agricultural Economics MF-2953 www.agmanager.info Machinery and equipment expense typically represents a major cost in agricultural production. Purchasing

More information

Spatial Distribution of Precision Farming Technologies in Tennessee. Burton C. English Roland K. Roberts David E. Sleigh

Spatial Distribution of Precision Farming Technologies in Tennessee. Burton C. English Roland K. Roberts David E. Sleigh Spatial Distribution of Precision Farming Technologies in Tennessee Burton C. English Roland K. Roberts David E. Sleigh Research Report 00-08 February 2000 Department of Agricultural Economics and Rural

More information

COOPERATIVE EXTENSION Bringing the University to You

COOPERATIVE EXTENSION Bringing the University to You COOPERATIVE EXTENSION Bringing the University to You Special Publication 05-12 Importance & Use of Enterprise Budgets in Agricultural Operations William W. Riggs, Eureka County Extension Educator, University

More information

Livestock Budget Estimates for Kentucky - 2000

Livestock Budget Estimates for Kentucky - 2000 Livestock Budget Estimates for Kentucky - 2000 Agricultural Economics Extension No. 2000-17 October 2000 By: RICHARD L. TRIMBLE, STEVE ISAACS, LAURA POWERS, AND A. LEE MEYER University of Kentucky Department

More information

Guidelines for Estimating Wheat Straw Biomass Production Costs. Average Crop Residue Zone in Manitoba

Guidelines for Estimating Wheat Straw Biomass Production Costs. Average Crop Residue Zone in Manitoba Guidelines for Estimating Wheat Straw Biomass Production Costs 2016 Average Crop Residue Zone in Manitoba .............................................. Guidelines for Estimating Wheat Straw Biomass Production

More information

AFBF Comparison of Senate and House Committee passed Farm Bills May 16, 2013

AFBF Comparison of Senate and House Committee passed Farm Bills May 16, 2013 CURRENT LAW SENATE AG COMMITTEE (S. 954) HOUSE AG COMMITTEE (HR 1947) Reported out of Committee 15 5 Reported out of Committee 36 10 Cost $979.7 billion over the 10 years before sequester reductions of

More information

Agricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast

Agricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast 1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030

More information

Course: AG 460-Agribusiness Management and Marketing

Course: AG 460-Agribusiness Management and Marketing Course: AG 460-Agribusiness Management and Marketing Unit Objective CAERT Lesson Plan Library Unit Problem Area Lesson Agricultural Careers 1. Identify and describe careers in agriculture Agribusiness

More information

GAAP Accounting for Farmers presented by Tom Bayer, Partner, Sikich LLP tbayer@sikich.com 217.793.3363

GAAP Accounting for Farmers presented by Tom Bayer, Partner, Sikich LLP tbayer@sikich.com 217.793.3363 GAAP Accounting for Farmers presented by Tom Bayer, Partner, Sikich LLP tbayer@sikich.com 217.793.3363 Outline of topics Why GAAP financial statements Types of CPA prepared financial statements Conversion

More information

The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers

The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers Agricultural Marketing Policy Center Linfield Hall P.O. Box 172920 Montana State University Bozeman, MT 59717-2920

More information

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful?

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful? Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural, forestry and fisheries

More information

Preparing A Cash Flow Statement

Preparing A Cash Flow Statement Preparing A Cash Flow Statement By: Norm Dalsted and Rod Sharp Colorado State University It is highly unlikely you would attempt to drive to Detroit, Michigan, without first consulting a road map. You

More information

CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1

CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1 Presented at the 1997 Missouri Commercial Agriculture Crop Institute CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1 Presented by: Art Barnaby Managing Risk With

More information

2016 FIELD CROP BUDGETS Publication 60

2016 FIELD CROP BUDGETS Publication 60 2016 FIELD CROP BUDGETS Publication 60 1. Alfalfa-Timothy Hay 2. Barley 3. Spring Canola 4. Winter Canola 5. Coloured Beans 6. Grain Corn 7. Silage Corn 8. Flax 9. Oats 10. Soybeans 11. Soft Red Winter

More information

July 10, USDA World Supply and Demand Estimates

July 10, USDA World Supply and Demand Estimates July 10, 2015 - World Supply and Demand Estimates Corn Projected 2015/16 U.S. feed grain supplies are lowered this month with reductions in corn beginning stocks and production. Corn beginning stocks for

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Farm Machinery & Equipment -- Buy, Lease or Custom Hire Quick Notes... Selecting the best method to acquire machinery services presents a complex economic problem.

More information

Credit Analysis Solutions AGRICULTURE

Credit Analysis Solutions AGRICULTURE Credit Analysis Solutions AGRICULTURE FINPACK University of Minnesota 130 Ruttan Hall 1994 Buford Avenue St. Paul, Minnesota 55108 Phone: (612) 625-1964 Toll-Free: (800) 234-1111 Fax: (612) 625-3105 Email:

More information

To: Board of Directors September 17, 2001 Federal Crop Insurance Corporation

To: Board of Directors September 17, 2001 Federal Crop Insurance Corporation United States Department of Agriculture Federal Crop Insurance Corporation 1400 Independence Ave, SW Stop 0801 Washington, DC 20250-0801 To: Board of Directors September 17, 2001 Federal Crop Insurance

More information

University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness

University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness 2012 University of Arkansas Division of Agriculture Department of Agricultural Economics & Agribusiness Vuko Karov, Eric J. Wailes, and K. Bradley Watkins [Assessment of STAX (Stacked Income Protection

More information

SOURCES AND USES OF FUNDS ON KFMA FARMS

SOURCES AND USES OF FUNDS ON KFMA FARMS KANSAS FARM MANAGEMENT ASSOCIATION Your Farm - Your Information - Your Decision N E W S L E T T E R Volume 6, Issue 3 March 2012 SOURCES AND USES OF FUNDS ON KFMA FARMS A flow of funds report, often referred

More information

U.S. crop program fiscal costs: Revised estimates with updated participation information

U.S. crop program fiscal costs: Revised estimates with updated participation information U.S. crop program fiscal costs: Revised estimates with updated participation information June 2015 FAPRI MU Report #02 15 Providing objective analysis for 30 years www.fapri.missouri.edu Published by the

More information

Lesson 2. Cash Flow Budgets

Lesson 2. Cash Flow Budgets A Project Funded by USDA BFRDP Grant #10506276 Development Partners Include: Lesson 2. Cash Flow Budgets Introduction Cash flow budgets provide detail about periods when cash outflows exceed cash inflows.

More information

EC879 Can You Pay for the Farm You Buy?

EC879 Can You Pay for the Farm You Buy? University of Nebraska - Lincoln DigitalCommons@University of Nebraska - Lincoln Historical Materials from University of Nebraska- Lincoln Extension Extension 1-1-1947 EC879 Can You Pay for the Farm You

More information

Group Risk Crop Insurance

Group Risk Crop Insurance Materials Prepared for Federation of Southern Cooperatives Epes, Alabama September 11, 2009 Group Risk Crop Insurance by Karen R. Krub Farmers Legal Action Group, Inc. 360 North Robert Street, Suite 500

More information

Florida Foundation Seed Producers, Inc.

Florida Foundation Seed Producers, Inc. Florida Foundation Seed Producers, Inc. Financial Statements and Independent Auditors Reports CONTENTS Independent Auditors Report 1 Financial Statements: Statements of Cash Flows 2 Statements of Financial

More information