Table S1.
Comprehensive annual production costs for low-till corn (following soybeans) and soybeans (following corn) for the State of Iowa
| Financial factors | 2007* | 2008† | 2009‡ | 2010§ | 2011¶ | 2012# | 2013‖ | 2014** | 2015†† |
| Crop | Soybean | Corn | Soybean | Corn | Soybean | Corn | Soybean | Corn | Soybean |
| Preharvest costs | |||||||||
| Machinery | 50.73 | 65.88 | 53.69 | 59.53 | 56.04 | 80.43 | 59.82 | 82.16 | 60.49 |
| Seed | 106.99 | 151.10 | 174.35 | 280.51 | 135.91 | 264.64 | 145.32 | 286.09 | 158.54 |
| Nitrogen | 0.00 | 152.76 | 0.00 | 113.91 | 0.00 | 207.59 | 0.00 | 145.27 | 0.00 |
| Phosphate | 42.43 | 83.03 | 99.63 | 70.23 | 62.39 | 112.92 | 48.88 | 73.69 | 48.38 |
| Potash | 49.44 | 37.36 | 149.45 | 63.11 | 93.21 | 77.07 | 95.45 | 55.80 | 77.52 |
| Lime‡‡ | 20.06 | 19.37 | 19.37 | 26.29 | 25.57 | 25.08 | 24.61 | 25.20 | 25.20 |
| Herbicide | 83.69 | 101.01 | 84.78 | 95.13 | 63.46 | 90.81 | 93.53 | 99.56 | 100.32 |
| Crop insurance | 18.63 | 41.51 | 34.59 | 46.21 | 27.23 | 58.39 | 38.18 | 50.41 | 22.44 |
| Miscellaneous§§ | 25.80 | 24.91 | 24.91 | 24.46 | 23.80 | 23.35 | 22.91 | 25.20 | 25.20 |
| Interest on preharvest variable costs | 19.67 | 34.27 | 25.43 | 31.63 | 18.33 | 34.22 | 17.62 | 26.76 | 16.26 |
| Subtotal | 417.45 | 711.20 | 666.21 | 811.01 | 505.94 | 974.51 | 546.31 | 870.14 | 534.35 |
| Harvest costs | |||||||||
| Combine | 52.73 | 69.46 | 53.97 | 65.78 | 58.44 | 83.03 | 64.39 | 80.90 | 59.48 |
| Grain cart | 12.03 | 18.83 | 18.53 | 18.48 | 23.01 | 23.35 | 22.91 | 24.96 | 25.45 |
| Hauling | 6.20 | 21.25 | 6.92 | 39.14 | 9.91 | 37.36 | 10.18 | 38.57 | 9.96 |
| Drying | 0.00 | 110.70 | 0.00 | 119.37 | 0.00 | 113.02 | 0.00 | 117.97 | 0.00 |
| Handling | 2.30 | 6.77 | 2.22 | 6.67 | 4.62 | 19.62 | 5.34 | 18.61 | 4.84 |
| Subtotal | 73.27 | 227.01 | 81.64 | 249.45 | 95.97 | 276.38 | 102.82 | 281.00 | 99.73 |
| Labor | 55.18 | 70.03 | 53.27 | 68.77 | 53.67 | 69.83 | 54.56 | 75.37 | 57.35 |
| Property tax on owned land¶¶ | 51.89 | 54.36 | 54.36 | 55.60 | 57.45 | 58.69 | 59.92 | 60.54 | 60.54 |
| Total costs | 597.78 | 1,062.60 | 855.48 | 1,184.82 | 713.03 | 1,379.41 | 763.61 | 1,287.05 | 751.97 |
| Average yield, Mg | 4.17 | 10.97 | 4.23 | 8.40 | 3.90 | 8.97 | 2.08 | 7.27 | 3.36 |
| Price/Mg | 285.82 | 188.19 | 369.58 | 151.97 | 458.85 | 262.60 | 519.10 | 162.60 | 344.23 |
| Total revenue | 1,190.66 | 2,065.23 | 1,564.43 | 1,277.01 | 1,788.16 | 2,354.86 | 1,081.24 | 1,182.80 | 1,156.45 |
| Net revenue | 592.88 | 1,002.63 | 708.94 | 92.19 | 1,075.13 | 975.45 | 317.62 | −104.25 | 404.47 |
| Inflation factor to 2016 USD | 1.16 | 1.12 | 1.12 | 1.10 | 1.07 | 1.05 | 1.03 | 1.02 | 1.02 |
All data except average yield are in 2016 USD and are reported on per hectare basis. Enterprise data reflect the average cost of purchased inputs and a return to land and labor resources only and do not consider returns to scale.
Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2007. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2007.
Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2008. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2008.
Production data source: Duffy, M. and D. Smith. Estimated Crop Production Costs in Iowa - 2009. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) December 2008.
Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2010. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) December 2009.
Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2011. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2011.
Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2012. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2012.
Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2013. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2013.
Production data source: Duffy, M. Estimated Crop Production Costs in Iowa - 2014. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2014.
Production data source: Plastina, A. Estimated Crop Production Costs in Iowa - 2015. Ag Decision Maker, University Extension, Iowa State University. A1-20. FM-1712 (revised) January 2015.
Period cost annualized.
Miscellaneous costs include overhead charge accounts for items such as soil test cost, general farm utilities, farm publications, membership dues, and truck licensing fees.
The land charge assumes that all land is owned and paid off and only the annual property tax rate applies.