FM 1712 Revised January 2024
Ag Decision Maker
extension.iastate.edu/agdm
File A1-20
Estimated Costs of Crop
Production in Iowa–2024
The estimated costs of corn, corn silage, soybeans, alfalfa,
and pasture maintenance in this report are based on
data from several sources. They include the annual Iowa
Farm Business Association record summaries, production
and costs data from the Departments of Economics,
Agricultural and Biosystems Engineering, and Agronomy
at Iowa State University, and a survey of selected
agricultural cooperatives and other input suppliers
around the state.
These cost estimates intend to represent average costs for
farms in Iowa. Very large or small farms may have lower
or higher fixed costs per acre. Starting in 2023, projected
land costs are based on the previous year’s results in the
Cash Rental Rates for Iowa Survey, store.extension.
iastate.edu/product/1841, and a poll of the Iowa State
University Extension and Outreach Farm Management
team and Farm Financial Associates.
Due to differences in soil potentials, quantity of inputs
used, and other factors, production costs will vary
from farm to farm. Price shifts for inputs can change
production costs in both the short and long run. The data
reflect average cost of purchased inputs and a return to
land and labor resources, but do not provide a margin for
profit or a return to management. They reflect production
costs only, and do not include costs of storage.
Labor has been treated as a fixed cost because most labor
on Iowa farms is supplied by the operator, family, or
permanent hired labor. However, when deciding among
alternative crops, labor should be considered a variable
cost. The wage rate used here is $19.00 per hour. The
hours assumed per crop are presented in the budgets. The
hours per crop acre include not only the field work but
also time for maintenance, travel, and other activities
related to crop production. The land charge is based on a
projected cash rent equivalent. Owned land may require a
greater or lesser cash outlay.
In the short run, cash income must be sufficient to pay
cash costs, including seed, fertilizer, chemicals, insurance,
cash rent, and hired labor, as well as machinery fuel and
repairs, and interest on operating capital. In the long run,
income should be sufficient to pay all costs of production
for resources to be used in their most profitable purpose.
Starting in 2019, reference yields for corn and soybeans
budgets reflect 30-year trend yields and are updated
annually. Corn yields reflect rotation effects. Fertilizer
rates have been adjusted to reflect current data on removal
and application rates. Starting in 2021, nitrogen rates on
corn budgets reflect recommendations from the Corn
Nitrogen Calculator, www.cornnratecalc.org. For 2024,
the projected corn to nitrogen price ratio is 8.25. Crop
insurance costs reflect revenue crop protection at 80%
coverage for a typical farm in Central Iowa.
Machinery costs reflect both new and used equipment.
The machine operations assumed are based on the 2016
Crop Production Practices Survey conducted by the Iowa
Agricultural Statistics Service and ISU Extension and
Outreach publication: Estimating the Field Capacity of
Farm Machines, store.extension.iastate.edu/product/4032.
In 2024, machinery costs were adjusted to reflect the
23% increase between 2020 and 2022 reported by USDA
Economic Research Service, www.ers.usda.gov/data-
products/commodity-costs-and-returns/, in the budget line
“Capital recovery of machinery and equipment” for corn
production in the Heartland Region.
Estimates represent typical costs and are only intended to
be guidelines. Actual costs will vary considerably and can
be entered in the column for “Your Estimates.” Decision
Tool spreadsheets for developing crop production budgets
are available on the Ag Decision Maker website, www.
extension.iastate.edu/agdm.
Budgets for alfalfa hay establishment with an oat
companion crop and by direct seeding are included in this
publication. Annual production costs for established alfalfa
or alfalfa-grass hay, as well as a budget for maintaining
grass pastures, are included. The APH-90 insurance policy
for oats was discontinued in 2022 and Yield Protection was
offered for the first time in 2023.
Two low-till budgets, one for corn and one for soybeans,
are included. The major differences between the low-till
and conventional budgets are the preharvest machinery,
labor, herbicide, and seeding costs. The soybean budgets
are for herbicide-tolerant varieties. A strip-till budget is
also included.
Page 2
Estimated Costs of Crop Production in Iowa–2024
Corn Following Corn
167 bushels
per acre
185 bushels
per acre
204 bushels
per acre
Your
Estimate
Fixed Variable Fixed Variable Fixed Variable
Preharvest Machinery
1/
$38.50 $28.30 $38.50 $28.30 $38.50 $28.30
$
Seed, Chemical, etc. Units Units Units
Seed, $3.66 per 1,000 kernels 28,000 $102.48 30,000 $109.80 35,000 $128.10
$
Nitrogen, $0.60 per pound 172 103.20 183 109.80 194 116.40
Phosphate, $0.67 per pound 63 42.21 69 46.23 77 51.59
Potash, $0.53 per pound 50 26.50 56 29.68 61 32.33
Lime (yearly cost) 11.05 11.05 11.05
Herbicide 45.00 45.00 45.00
Insecticide 20.00 20.00 20.00
Crop insurance 15.90 17.50 18.90
Miscellaneous 10.90 12.20 13.30
Interest on preharvest variable
costs (8 months at 8.5%) 22.98 24.34 26.35
Total $400.22 $425.60 $463.02
$
Harvest Machinery
Combine $21.50 $9.00 $21.50 $9.00 $21.50 $9.00
$
Grain cart 10.40 3.90 10.40 3.90 10.40 3.90
Haul 12.02 8.18 13.32 9.07 14.69 10.00
Dry (LP gas, $1.55 per gallon) 8.35 31.06 9.25 34.41 10.20 37.94
Handle (auger) 4.93 4.36 5.46 4.83 6.02 5.32
Total $57.20 $56.50 $59.93 $61.20 $62.81 $66.16
$
Labor
2.80 hours, $19.00 per hour $53.20 $53.20 $53.20
$
Land
Cash rent equivalent $242.00 $285.00 $331.00
$
Total fixed, variable
Per acre $390.90 $485.02 $436.63 $515.11 $485.51 $557.48
Yield:
bushels
per acre
Per bushel $2.34 $2.90 $2.36 $2.78 $2.38 $2.73
Total cost per acre $875.92 $951.73 $1,042.99
$
Total cost per bushel $5.25 $5.14 $5.11
$
1/
Chisel plow, tandem disk, apply nitrogen, field cultivate, plant, and spray. See the Estimated Machinery Costs table.
Page 3
Estimated Costs of Crop Production in Iowa–2024
Corn Following Soybeans
182 bushels
per acre
202 bushels
per acre
222 bushels
per acre
Your
EstimateFixed Variable Fixed Variable Fixed Variable
Preharvest Machinery
1/
$32.50 $23.10 $32.50 $23.10 $32.50 $23.10
$
Seed, Chemical, etc. Units Units Units
Seed, $3.66 per 1,000 kernels 28,000 $102.48 30,000 $109.80 35,000 $128.10
$
Nitrogen, $0.60 per pound 128 76.80 140 84.00 151 90.60
Phosphate, $0.67 per pound 68 45.56 76 50.92 83 55.61
Potash, $0.53 per pound 55 29.15 61 32.33 67 35.51
Lime (yearly cost) 11.05 11.05 11.05
Herbicide 45.00 45.00 45.00
Crop insurance 15.90 17.50 18.90
Miscellaneous 10.90 12.20 13.30
Interest on preharvest variable
costs (8 months at 8.5%) 20.40 21.87 23.87
Total $357.24 $384.67 $421.94
$
Harvest Machinery
Combine $21.50 $9.00 $21.50 $9.00 $21.50 $9.00
$
Grain cart 10.40 3.90 10.40 3.90 10.40 3.90
Haul 13.10 8.92 14.54 9.90 15.98 10.88
Dry
(LP gas, $1.55 per gallon)
9.10 33.85 10.10 37.57 11.10 41.29
Handle (auger) 5.37 4.75 5.96 5.27 6.55 5.79
Total $59.47 $60.42 $62.50 $65.64 $65.53 $70.86
$
Labor
2.55 hours, $19.00 per hour $48.45 $48.45 $48.45
$
Land
Cash rent equivalent $242.00 $285.00 $331.00
$
Total fixed, variable
Per acre $382.42 $440.76 $428.45 $473.41 $477.48 $515.90
Yield:
bushels
per acrePer bushel $2.10 $2.42 $2.12 $2.34 $2.15 $2.32
Total cost per acre $823.18 $901.86 $993.38 $
Total cost per bushel $4.52 $4.46 $4.47 $
1/
Apply nitrogen, tandem disk, field cultivate, plant, and spray. See the Estimated Machinery Costs table.
Page 4
Estimated Costs of Crop Production in Iowa–2024
Corn Silage Following Corn
21 tons
per acre
24 tons
per acre
26 tons
per acre
Your
EstimateFixed Variable Fixed Variable Fixed Variable
Preharvest Machinery
1/
$38.50 $28.30 $38.50 $28.30 $38.50 $28.30 $
Seed, Chemical, etc. Units Units Units
Seed, $3.66 per 1,000 kernels 32,200 $117.85 34,500 $126.27 40,250 $147.32 $
Nitrogen, $0.60 per pound 147 88.20 161 96.60 174 104.40
Phosphate, $0.67 per pound 74 49.58 84 56.28 91 60.97
Potash, $0.53 per pound 189 100.17 216 114.48 234 124.02
Lime (yearly cost) 11.05 11.05 11.05
Herbicide 45.00 45.00 45.00
Insecticide 20.00 20.00 20.00
Crop insurance 15.90 17.50 18.90
Miscellaneous 10.90 12.20 13.30
Interest on preharvest variable
costs (8 months at 8.5%) 27.59 29.90 32.48
Total $486.24 $529.28 $577.44 $
Harvest Machinery
Silage harvester $80.80 $41.30 $80.80 $41.30 $80.80 $41.30 $
Haul 46.83 35.70 53.52 40.80 57.98 44.20
Store silage (unloader) 14.70 3.57 16.80 4.08 18.20 4.42
Total $142.33 $80.57 $151.12 $86.18 $156.98 $89.92 $
Labor
4.95 hours, $19.00 per hour $94.05 $94.05 $94.05 $
Land
Cash rent equivalent $242.00 $285.00 $331.00 $
Total fixed, variable
Per acre $516.88 $595.11 $568.67 $643.76 $620.53 $695.66
Yield:
tons
per acrePer ton $24.61 $28.34 $23.69 $26.82 $23.87 $26.76
Total cost per acre $1,111.99 $1,212.43 $1,316.19 $
Total cost per ton $52.95 $50.52 $50.62 $
1/
Chisel plow, tandem disk, apply nitrogen, field cultivate, plant, and spray. See the Estimated Machinery Costs table.
Page 5
Estimated Costs of Crop Production in Iowa–2024
Herbicide Tolerant Soybeans Following Corn
53 bushels
per acre
59 bushels
per acre
65 bushels
per acre
Your
EstimateFixed Variable Fixed Variable Fixed Variable
Preharvest Machinery
1/
$35.10 $25.00 $35.10 $25.00 $35.10 $25.00 $
Seed, Chemical, etc. Units Units Units
Seed, $52.00 per 140,000 kernels
140,000 $52.00 140,000 $52.00 140,000 $52.00 $
Phosphate, $0.67 per pound 42 28.14 47 31.49 52 34.84
Potash, $0.53 per pound 80 42.40 89 47.17 98 51.94
Lime (yearly cost) 11.05 11.05 11.05
Herbicide 53.50 53.50 53.50
Crop insurance 9.80 11.10 12.20
Miscellaneous 10.90 12.20 13.30
Interest on preharvest variable
costs (8 months at 8.5%) 13.19 13.80 14.38
Total $220.98 $232.31 $243.21 $
Harvest Machinery
Combine $13.70 $5.50 $13.70 $5.50 $13.70 $5.50 $
Grain cart 10.40 3.90 10.40 3.90 10.40 3.90
Haul 3.82 2.60 4.25 2.89 4.68 3.19
Handle (auger) 1.56 1.38 1.74 1.54 1.92 1.70
Total $29.48 $13.38 $30.09 $13.83 $30.70 $14.28 $
Labor
2.20 hours, $19.00 per hour $41.80 $41.80 $41.80 $
Land
Cash rent equivalent $242.00 $285.00 $331.00 $
Total fixed, variable
Per acre $348.38 $259.36 $391.99 $271.14 $438.60 $282.50
Yield:
bushels
per acrePer bushel $6.57 $4.89 $6.64 $4.60 $6.75 $4.35
Total cost per acre $607.74 $663.13 $721.09 $
Total cost per bushel $11.47 $11.24 $11.09 $
1/
Chisel plow, tandem disk, field cultivate, plant, and two sprays. See the Estimated Machinery Costs table.
2/
Estimates do not include any insecticide or fungicide costs.
Page 6
Estimated Costs of Crop Production in Iowa–2024
Strip Tillage Corn and Soybeans
Corn Following Soybeans Herbicide Tolerant Soybeans Following Corn
202 bushels per acre
Your
Estimate
59 bushels per acre
Your
Estimate
Fixed Variable Fixed Variable
Preharvest
Machinery
1/
$18.40 $13.10 $
Preharvest
Machinery
1/
$22.40 $15.30 $
Seed, Chemical, etc. Units Seed, Chemical, etc. Units
Seed, $3.66 per
1,000 kernels 30,000 $109.80 $
Seed, $52.00
per 140,000 kernels 160,000 $59.43 $
Nitrogen, $0.60
per pound 140 84.00
Phosphate, $0.67
per pound 76 50.92
Phosphate, $0.67
per pound 47 31.49
Potash, $0.53
per pound 61 32.33
Potash, $0.53
per pound 89 47.17
Lime (yearly cost) 11.05 Lime (yearly cost) 11.05
Herbicide
2/
67.00 Herbicide
2/
63.00
Crop insurance 17.50 Crop insurance 11.10
Miscellaneous 12.20 Miscellaneous 12.20
Interest on
preharvest variable
costs (8 months at 8.5%) 22.55
Interest on
preharvest variable
costs (8 months at 8.5%) 14.21
Total $407.35 $ Total $249.65 $
Harvest Machinery
Combine $21.50 $9.00 $ Combine $13.70 $5.50 $
Grain cart 10.40 3.90 Grain cart 10.40 3.90
Haul 14.54 9.90 Haul 4.25 2.89
Dry (LP gas, $1.55 per
gallon) 10.10 37.57
Handle (auger) 5.96 5.27 Handle (auger) 1.74 1.54
Total $62.50 $65.64 $ Total $30.09 $13.83 $
Labor
2.25 hours, $19.00 $42.75 $ 1.70 hours, $19.00 $32.30 $
Land
Cash rent equivalent $285.00 $ Cash rent equivalent $285.00 $
Total fixed, variable
Per acre $408.65 $486.09
Yield:
bushels
per acre
Per acre $369.79 $278.78
Yield:
bushels
per acrePer bushel $2.02 $2.41 Per bushel $6.27 $4.73
Total cost per acre $894.74 $ Total cost per acre $648.57 $
Total cost per bushel $4.43 $ Total cost per bushel $10.99 $
1/
Strip till, plant, and spray for corn. No-till drill, two sprays for soybeans. See the Estimated Machinery Costs table.
2/
Estimates do not include any insecticide or fungicide costs.
Page 7
Estimated Costs of Crop Production in Iowa–2024
Non-Herbicide Tolerant Soybeans Following Corn
Soybeans Following Corn Drilled Soybeans Following Corn
59 bushels per acre
Your
Estimate
59 bushels per acre
Your
EstimateFixed Variable Fixed Variable
Preharvest Machinery
1/
$35.80 $25.50 $ $30.70 $20.90 $
Seed, Chemical, etc. Units Units
Seed, $36.50 per 140,000 kernels 130,000 $33.90 $ 150,000 $39.10 $
Phosphate, $0.67 per pound 47 31.49 47 31.49
Potash, $0.53 per pound 89 47.17 89 47.17
Lime (yearly cost) 11.05 11.05
Herbicide
2/
60.50 63.00
Crop insurance 11.10 11.10
Miscellaneous 12.20 12.20
Interest on preharvest variable costs
(8 months at 8.5%) 13.20 13.37
Total $220.61 $ $228.48 $
Harvest Machinery
Combine $13.70 $5.50 $ $13.70 $5.50 $
Grain cart 10.40 3.90 10.40 3.90
Haul 4.25 2.89 4.25 2.89
Handle (auger) 1.74 1.54 1.74 1.54
Total $30.09 $13.83 $ $30.09 $13.83 $
Labor
2.40 hours, $19.00 per hour $45.60 $
1.72 hours, $19.00 per hour $32.68 $
Land
Cash rent equivalent $285.00 $ $285.00 $
Total fixed, variable
Per acre $396.49 $259.94
Yield:
bushels per acre
$378.47 $263.21
Yield:
bushels per acrePer bushel $6.72 $4.41 $6.41 $4.46
Total cost per acre $656.43 $ $641.68 $
Total cost per bushel $11.13 $ $10.88 $
1/
Chisel plow, tandem disk, field cultivate, plant, cultivate, and spray.
Tandem disk, field cultivate, drill, and spray for drilled soybeans. See the Estimated Machinery Costs table.
2/
Estimates do not include any insecticide or fungicide costs.
Page 8
Estimated Costs of Crop Production in Iowa–2024
Low-till Corn and Soybeans
Corn Following Soybeans Herbicide Tolerant Drilled Soybeans Following Corn
202 bushels per acre
Your
Estimate
59 bushels per acre
Your
EstimateFixed Variable Fixed Variable
Preharvest
Machinery
1/
$24.90 $18.50
$
Preharvest
Machinery
1/
$22.50 $15.20
$
Seed, Chemical, etc. Units Seed, Chemical, etc. Units
Seed, $3.66
per 1,000 kernels 30,000 $109.80
$
Seed, $52.00
per 140,000 kernels 160,000 $59.40
$
Nitrogen, $0.60
per pound 140 84.00
Phosphate, $0.67
per pound 76 50.92
Phosphate, $0.67
per pound 47 31.49
Potash, $0.53
per pound 61 32.33
Potash, $0.53
per pound 89 47.17
Lime (yearly cost) 11.05 Lime (yearly cost) 11.05
Herbicide
2/
67.00 Herbicide
2/
63.00
Crop insurance 17.50 Crop insurance 11.10
Miscellaneous 12.20 Miscellaneous 12.20
Interest on
preharvest variable
costs (8 months at 8.5%) 22.85
Interest on
preharvest variable
costs (8 months at 8.5%) 14.20
Total $407.65
$
Total $249.61
$
Harvest Machinery
Combine $21.50 $9.00
$
Combine $13.70 $5.50
$
Grain cart 10.40 3.90 Grain cart 10.40 3.90
Haul 14.54 9.90 Haul 4.25 2.89
Dry (LP gas,
$1.55 per gallon) 10.10 37.57
Handle (auger) 5.96 5.27 Handle (auger) 1.74 1.54
Total $62.50 $65.64
$
Total $30.09 $13.83
$
Labor
2.25 hours, $19.00 $42.75
$
1.70 hours, $19.00 $32.30
$
Land
Cash rent equivalent $285.00
$
Cash rent equivalent $285.00
$
Total fixed, variable
Per acre $415.15 $491.80
Yield:
bushels
per acre
Per acre $369.89 $278.64
Yield:
bushels
per acrePer bushel $2.06 $2.43 Per bushel $6.27 $4.72
Total cost per acre $906.95
$
Total cost per acre $648.53
$
Total cost per bushel $4.49
$
Total cost per bushel $10.99
$
1/
Apply nitrogen, cultivate, plant, and spray for corn. Disk, drill, and spray for soybeans. See the Estimated Machinery Costs table.
2/
Estimates do not include any insecticide or fungicide costs.
Page 9
Estimated Costs of Crop Production in Iowa–2024
Oats and Hay Production-Seeding Year Costs
Alfalfa-Grass Seeded
with Oat Companion Crop
1/
Alfalfa Seeded
with Herbicide
2/
Your
Estimate
Establishment Costs
Fixed Variable Fixed Variable
Preharvest Machinery
Spray herbicide $3.70 $2.60 $
Tandem disk (2 times) $15.20 $9.20 15.20 9.20
Spread fertilizer 3.30 2.10 3.30 2.10
Harrow 3.40 2.00 3.40 2.00
Seed (drill) 7.50 5.40 7.50 5.40
Total preharvest machinery $29.40 $18.70 $33.10 $21.30 $
Seed
3/
Oats 2 bushels $23.00
$
Alfalfa 8 pounds 34.72 15 pounds $65.10
Bromegrass 6 pounds 24.90
Orchardgrass 3 pounds 10.05
Total seed cost $92.67 $65.10
$
Herbicide $25.10
$
Lime (total cost for hay lifetime) $38.00 38.00
Labor: 1 hour, $19.00 per hour $19.00 $19.00
$
Total establishment costs $48.40 $149.37 $52.10 $149.50 $
Annual Costs Fixed Variable Fixed Variable
Your
Estimate
One-third of Establishment
Costs (for establishment year) $16.13 $49.79 $17.37 $49.83 $
Fertilizer
Nitrogen 60 pounds $36.00 $
Phosphorus 45 pounds 30.15 35 pounds $23.45
Potash 130 pounds 68.90 125 pounds 66.25
Total fertilizer $135.05 $89.70 $
Insurance, oats $3.70 $
Labor, $19.00 per hour 4 hours $76.00 3 hours $57.00 $
Land: Cash rent equivalent $157.00 $157.00 $
Harvest Machinery
Oats: combine and haul grain $18.16 $8.02 $
Oats: rake, bale, and haul straw 20.18 12.43
Alfalfa: mower-conditioner, rake,
bale, and haul hay 30.73 19.13 $63.03 $40.23
Total harvest cost $69.08 $39.58 $63.03 $40.23 $
Total fixed and variable costs $318.21 $228.12 $294.40 $179.77 $
Total cost per acre $546.34 $474.17 $
1/
Assumes 80 bushels oat yield, one ton straw yield, and one ton per acre alfalfa yield from one cutting.
2/
Assumes two-and-a-half tons per acre from two alfalfa cuttings with herbicide-assisted seeding.
3/
Omit oats from August seedings. Higher priced seed varieties or different seed mixtures could vary these costs by 1.2 to 2.0 times.
Page 10
Estimated Costs of Crop Production in Iowa–2024
Annual Production Costs for Established Alfalfa
or Alfalfa-Grass Hay
Hay Production Level
4 tons per acre
1/
6 tons per acre
1/
Your
EstimateFixed Variable Fixed Variable
One-third of establishment costs
Machinery, seed, lime, labor,
and herbicide
2/
$16.13 $49.79 $17.37 $49.83
$
Annual fertilizer
3/
0-13-50 pounds per ton removed plus
spreading and insurance $3.30 $146.34 $6.60 $220.56 $
Harvesting Costs: Large Round Bales
4/
Mower-conditioner, rake,
baling, and hauling $95.33 $61.33 $129.20 $84.40
$
Labor costs: 1.33 hours per cutting,
$19.00 per hour $76.00 $101.33
$
Land: Cash rent equivalent $157.00 $194.00
$
Total fixed and variable cost
using large round bales per acre $347.77 $257.46 $448.50 $354.79
$
Fixed, variable cost per ton $86.94 $64.37 $74.75 $59.13
$
Total cost per acre $605.23 $803.29
$
Total cost per ton $151.31 $133.88
$
Harvesting Costs: Small Square Bales
4/
Mower-conditioner, rake,
baling, haul and stack $90.94 $58.62 $123.51 $80.98
$
Labor costs: 2 hours per cutting,
$19.00 per hour $114.00 $152.00
$
Land: Cash rent equivalent $157.00 $194.00
$
Total fixed and variable cost
using small square bales per acre $381.37 $254.75 $493.47 $351.38
$
Fixed, variable cost per ton $95.34 $63.69 $82.25 $58.56
$
Total cost per acre $636.12 $844.85
$
Total cost per ton $159.03 $140.81
$
1/
For harvest as silage, use machine cost estimates from the Estimated Machinery Costs table.
2/
Assumes alfalfa-grass seeded with oat companion crop. If alfalfa seeded with preplant herbicide, then use other costs (see previous page).
3/
For 6-ton yield goal, a split application of fertilizer is assumed.
4/
Harvest cost estimates assume 3 cuttings for 4 tons and 4 cuttings for 6 tons.
Page 11
Estimated Costs of Crop Production in Iowa–2024
Maintaining Grass Pastures - Annual Cost per Acre
Improved Grass
2/
Improved Grass-Legume
3/
Your
EstimateFixed Variable Fixed Variable
Machinery Costs
Spreading fertilizer $3.30 $2.10 $3.30 $2.10 $
Spraying herbicide 3.70 2.60
Clipping weeds 11.00 5.60 11.00 5.60
Total machinery cost $18.00 $10.30 $14.30 $7.70 $
Fertilizer and Herbicide
1/
Nitrogen, $0.60 per pound 80 pounds $48.00 $
Phosphate, $0.67 per pound 30 pounds 20.10 30 pounds $20.10
Potash, $0.53 per pound 40 pounds 21.20
Herbicide 4.75
Total fertilizer and herbicide $72.85 $41.30 $
Labor
Growing practices
.5 hours, $19.00 per hour $9.50 $9.50 $
Fence maintenance
1 hours, $19.00 per hour 19.00 19.00
Total labor $28.50 $28.50 $
Land
Cash rent equivalent $67.00 $95.00 $
Total annual cost $113.50 $83.15 $137.80 $49.00 $
Total annual cost per acre $196.65 $186.80 $
1/
These are average rates and may vary with soil test and the level of management on a particular field. Different herbicide alternatives could vary this cost.
2/
Improved grass pastures assume a dominance of cool season grasses such as smooth bromegrass, orchardgrass, tall fescue,
or reed canarygrass.
3/
Improved grass-legume pasture assumed one-third of the forage is made up of red clover, birdsfoot trefoil, or alfalfa.
Page 12
Estimated Costs of Crop Production in Iowa–2024
Estimated Machinery Costs
The following cost estimates are for on-farm use, excluding labor. Depreciation is based on current replacement
cost; interest is based on average market rates. Fixed costs will be greater for newer machinery. If annual machine
use is greater than that assumed, fixed costs per acre will be lower, and vice versa. Hauling costs are based on a
round trip of one mile. Remember these are estimates and they should not take the place of accurate
recordkeeping. Diesel fuel is estimated to cost $3.38 per gallon, delivered to the farm in bulk.
Operation
Hours of Use
Assumed per Year
Fixed Cost
(depreciation, interest,
insurance, housing)
Variable Cost
(fuel, oil, repairs)
Subsoiling (V-ripper) 120 $10.40 /acre $10.10 /acre
Moldboard plow 120 15.10 /acre 12.70 /acre
Chisel plow 120 6.00 /acre 5.20 /acre
Chop stalks 120 8.20 /acre 6.40 /acre
Tandem disk 120 7.60 /acre 4.60 /acre
Offset disk 120 6.40 /acre 4.30 /acre
Peg tooth harrow 60 3.40 /acre 2.00 /acre
Sprayer/disk 120 6.20 /acre 3.90 /acre
Field cultivator 120 4.40 /acre 3.60 /acre
Disk/field cultivator 120 4.40 /acre 3.50 /acre
Strip tiller 120 5.00 /acre 4.10 /acre
Bulk fertilizer spreader 60 3.30 /acre 2.10 /acre
NH3 applicator 120 7.10 /acre 5.90 /acre
Chisel plow, NH3 applicator 120 10.00 /acre 9.10 /acre
Grain drill 100 7.50 /acre 5.40 /acre
Broadcast seeder 100 4.90 /acre 2.30 /acre
Planter 100 9.70 /acre 6.40 /acre
No-till planter 100 12.40 /acre 8.30 /acre
No-till drill 100 15.00 /acre 10.10 /acre
Rotary hoe 60 3.00 /acre 1.50 /acre
Cultivator 120 4.40 /acre 3.10 /acre
Sprayer 150 3.70 /acre 2.60 /acre
Combine corn 180 21.50 /acre 9.00 /acre
Combine soybeans 120 13.70 /acre 5.50 /acre
Combine small grain 120 12.40 /acre 4.10 /acre
Haul grain (on farm) 600 0.072 /bushel 0.049 /bushel
Grain cart 200 10.40 /acre 3.90 /acre
Store grain (auger) 0.0295 /bushel 0.0261 /bushel
Silage harvester 200 80.80 /acre 41.30 /acre
Haul silage 140 2.23 /ton 1.70 /ton
Store silage (unloader) 0.70 /ton 0.17 /ton
Rotary mower 120 11.00 /acre 5.60 /acre
Mower-conditioner 120 9.00 /cutting/acre 5.70 /cutting/acre
Rake 120 5.20 /cutting/acre 2.60 /cutting/acre
Small square baler 120 11.60 /cutting/acre 5.60 /cutting/acre
Round baler 120 13.40 /cutting/acre 6.90 /cutting/acre
Large square baler 120 14.10 /cutting/acre 8.30 /cutting/acre
Windrower 200 5.00 /cutting/acre 2.80 /cutting/acre
Forage chopper 200 29.60 /acre 18.00 /acre
Haul small square bales 120 3.38 /ton 4.23 /ton
Haul large round bales 120 3.13 /ton 3.93 /ton
Page 13
Estimated Costs of Crop Production in Iowa–2024
Estimated Crop Production Costs in Iowa, 2015-2024
2015 2016 2017 2018 2019
1/
2020 2021 2022
2/
2023 2024
Corn Following Corn
Machinery $144.99 $129.92 $119.83 $132.80 $134.38 $128.46 $126.73 $146.56 $202.49 $187.93
Seed, chemicals, etc. 357.80 330.55 287.19 279.81 313.70 299.79 311.84 415.55 479.49 425.60
Labor 37.05 37.05 36.40 39.20 39.90 41.30 42.70 47.60 50.40 53.20
Land 273.00 266.00 230.00 219.00 223.00 219.00 222.00 232.00 285.00 285.00
Total cost per acre 812.83 763.52 673.41 670.80 710.98 688.54 703.28 841.70 1,017.38 951.73
Assumed yield 165 bu. 165 bu. 165 bu. 165 bu. 182 bu. 182 bu. 184 bu. 180 bu. 185 bu. 185 bu.
Total cost per bushel $4.93 $4.63 $4.08 $4.07 $3.91 $3.78 $3.82 $4.68 $5.50 $5.14
Corn Following Soybeans
Machinery $142.18 $126.74 $116.56 $130.47 $132.22 $126.10 $125.17 $145.48 $202.98 $183.75
Seed, chemicals, etc. 311.84 292.47 251.48 241.86 279.96 259.59 278.36 363.93 434.31 384.67
Labor 33.80 33.80 33.15 35.70 36.34 37.61 38.89 43.35 45.90 48.45
Land 273.00 266.00 230.00 219.00 223.00 219.00 222.00 232.00 285.00 285.00
Total cost per acre 760.81 719.01 631.18 627.03 671.51 642.30 664.42 784.76 968.19 901.86
Assumed yield 180 bu. 180 bu. 180 bu. 180 bu. 198 bu. 199 bu. 201 bu. 198 bu. 202 bu. 202 bu.
Total cost per bushel $4.23 $3.99 $3.51 $3.48 $3.39 $3.23 $3.31 $3.96 $4.79 $4.46
Soybeans Following Corn
3/
Machinery $79.17 $75.43 $67.40 $68.67 $68.43 $68.11 $63.86 $72.74 $86.05 $104.02
Seed, chemicals, etc. 166.38 162.63 157.11 154.41 183.61 168.52 181.24 232.82 286.76 232.31
Labor 29.25 29.25 28.60 30.80 31.35 32.45 33.55 37.40 39.60 41.80
Land 273.00 266.00 230.00 219.00 223.00 219.00 222.00 232.00 285.00 285.00
Total cost per acre 547.80 533.30 483.11 472.89 506.38 488.09 500.65 574.96 697.41 663.13
Assumed yield 50 bu. 50 bu. 50 bu. 50 bu. 56 bu. 56 bu. 56 bu. 57 bu. 59 bu. 59 bu.
Total cost per bushel $10.96 $10.67 $9.66 $9.46 $9.04 $8.72 $8.94 $10.09 $11.82 $11.24
Alfalfa Hay, annual production, 6 ton per acre, large round bales
One-third of est. costs $60.62 $57.93 $60.03 $51.43 $48.50 $49.65 $51.97 $68.97 $65.57 $67.20
Annual fertilizer 166.88 148.21 109.05 121.48 135.37 129.37 129.37 228.76 289.65 227.16
Harvest machinery 167.60 159.20 140.80 144.40 141.60 141.20 130.80 150.00 179.20 213.60
Labor 69.33 69.33 69.33 74.67 76.00 78.67 81.33 90.67 96.00 101.33
Land 167.00 170.00 165.00 157.00 157.00 160.00 164.00 174.00 209.00 194.00
Total cost per acre 631.43 604.67 544.22 548.97 558.47 558.89 557.47 712.39 839.42 803.29
Assumed yield 6 ton 6 ton 6 ton 6 ton 6 ton 6 ton 6 ton 6 ton 6 ton 6 ton
Total cost per ton $105.24 $100.78 $90.70 $91.49 $93.08 $93.15 $92.91 $118.73 $139.90 $133.88
1/
Starting in 2019, reference yields for corn and soybean budgets reflect 30-year trend yields.
2/
Starting in 2022, nitrogen fertilizer rates are adjusted according to the Corn Nitrogen Rate Calculator, www.cornnratecalc.org.
3/
Soybean estimates are for herbicide tolerant varieties.
Prepared by Alejandro Plastina, extension economist, 515-294-6160, [email protected];
with assistance of Kwanele Magwaba, graduate student
extension.iastate.edu/agdm
store.extension.iastate.edu
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