That's the difference between profit and loss based on benchmarks compiled by consultants Moe Russell andJohn McNutt in the November 2015 Farm Futures Magazine article, "Red Ink Coming, But How Much?" These benchmarks were released at the 2015 FBS User Conference in Moline, Illinois.
Click here for a copy of the Latta Harris/Russell Consulting Group corn-soybean benchmarks andhere to watch a video John and Moe's presentation at the 2015 FBS User Conference.
Editor's note: While very useful in identifying "high level" problems cost benchmark studies like this are usually based on "peanut butter spreading" of labor and machinery costs across all acresregardless of the mix of crops grown or the unique production practices used to grow each commodity. Moreover, operations decisions are ultimately made at the activity level (planting, spreading, spraying, harvesting, trucking, etc.)
To reach that level of accountability, benchmarking and control you need to adopt full activity-based management accounting. More to come on this subject next month.
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