Wwheat 1 HARD RED SPRING WHEAT BUDGET Revised: Jan '07 Return Per Acre ($7.00) Number of Acres = 1 1 t = 36.74 bu Wheat Optimistic Expected Pessimistic Yield -bu/ac 48 30 25 Price -$/bu 5.70 5.68 3.47 Straw Yield -bales/ac 55 50 45 Price -$/bale 1.65 1.50 1.35 Total Production Wheat -bu 48 30 25 Straw -bales 55 50 45 Insurance Evaluation Program Payments Crop Insurance Premium/ac: 0.00 C.I. Premium/ac: 6.15 Guaranteed Price/bu. n/a Level of Coverage 90% Probability of a payout 0.01% Guaranteed Yield/ac. 27.00 Expected Payout/ac $0.00 Probability of a payout 39.71% Expected Payout/ac $18.42 Participate in Programs? (y/n) n/a Participate in CI? (y/n) Yes Unit/Ac Number Cost/Unit $/Acre $/Year Expenses ----------------------------Variable Costs: Seed lb 130 0.35 45 45 Seed Treatment kg 0 0.00 0 0 Fertilizer #1 6-24-24 kg 40 0.376 15 15 #2 Urea 46% kg 63 0.476 30 30 #3 kg 0 0.000 0 0 Unit/Ac Number Cost/Unit $/Acre $/Year Herbicide ----------------------------Annual Grasses kg or l 0 0.00 0 0 Broadleaf Herbicides kg or l 1 6.40 6 6 Other Herbicides kg or l 0 0.00 0 0 Insecticides kg or l 0 0.00 0 0 Fungicides kg or l 0 0.00 0 0 Growth Regulators 0 0 0 0 Crop Insurance Insurance 1 6.15 6 6 Program Premium 0 0.00 0 0 Custom Work #1 Fertilizer App. 1 9.15 9 9 #2 Chem. Application 1 9.10 9 9 Drying tonnes 0.90 0 0 0 Storage tonnes 0 0.00 0 0 Trucking tonnes 0.82 6.35 5 5 Marketing Fee tonnes 0.82 2.00 2 2 Twine sq. bales 50 0.05 3 3 Other 0 0.00 0 0 Typical Enterprise $/Acre $ Allocated $/Acre $/Year Fuel 12.5 13 13 Mach. Repair & Maint. 19.05 19 19 Bldg. Repair & Maint. 0 0 0 Labour 17.8 18 18 General Variable Costs 0 0 0 Interest on %int %year Operating Capital 7 83 10 10 --------------Total Variable Costs 189 189 Typical Enterprise Fixed Costs: $/Acre $ Allocated $/Acre $/Year Depreciation 33 33 33 Interest on Term Loans 23.3 23 23 Land Costs -0 0 Long-term Leases 0 0 0 General Fixed Costs 6.7 7 7 --------------Total Fixed Costs 63 63 Revenues: $/Acre $/Year Total Expected Revenues 245 245 less: Variable Costs 189 189 --------------Expected Operating Margin 56 56 less: Fixed Costs 63 63 --------------Expected Net Revenue -7 -7 Break-even $/bu to cover: Variable Costs 6.31 Fixed Costs 2.10 -------Total Costs 8.41 Chance of at least breaking even ==> 47% Chance of at least 0 $/acre return ==> 47% systd Coefficient of variation ==> 0.35 spstd mn Go to General Costs Allocation Worksheet Returns $/acre Chances of at least ystd this return per acre pstd nrstd 75 17 % 29 33 % z -7 50 % v1 -43 67 % v2 -89 83 % p(vx) The user of this worksheet assumes all responsibility. For more information: OMAFRA Agricultural Information Centre ag.info@omafra.gov.on.ca 1-877-424-1300