USDA Economic Research Service has released data pertaining to annual farm production costs. The figures outline how fertilizer and fuel figure into the annual production budget on the farm. Figures are offered for corn, beans, wheat and oats in the years 2010, 2011, 2012 Forecast (2012F) and 2013 Forecast (2013F). The tables below are valuable tools when considering how much one should expect to pay on Fertilizer and Fuel for the four major crops.
The results showed a strong trend toward the upside gaining around 25% for all four crops between 2010 and 2011. 2012F production costs increased by a more reasonable 1.3% and is expected to fall 3.9% between 2012 and 2013F.
| Corn |
2010
|
2011
|
2012F
|
2013F
|
| Fertilizer costs |
$112.03
|
$147.36
|
$136.46
|
$129.23
|
| Fuel costs |
$25.08
|
$32.42
|
$45.86
|
$45.94
|
| Total (Fertilizer and Fuel) |
$137.11
|
$179.78
|
$182.32
|
$175.17
|
| % change year-over |
NA
|
+23.0%
|
+1.3%
|
-3.9%
|
| % of Total Operating Costs Accounted for by Fertilizer and Fuel |
47.8%
|
54%
|
55%
|
53.4%
|
| % of Total Production Costs Accounted for by Fertilizer and Fuel |
25%
|
29%
|
30%
|
29%
|
| Soybeans |
2010
|
2011
|
2012F
|
2013F
|
| Fertilizer costs |
$17.87
|
$22.84
|
$23.84
|
$22.91
|
| Fuel costs |
$16.81
|
$20.98
|
$21.92
|
$22.18
|
| Total (Fertilizer and Fuel) |
$34.68
|
$43.82
|
$45.76
|
$45.09
|
| % change year-over |
NA
|
+20.8%
|
+4.2%
|
-1.4%
|
| % of Total Operating Costs Accounted for by Fertilizer and Fuel |
27%
|
32%
|
32%
|
31%
|
| % of Total Production Costs Accounted for by Fertilizer and Fuel |
9.1%
|
11.05%
|
11%
|
11%
|
| Wheat |
2010
|
2011
|
2012F
|
2013F
|
| Fertilizer costs |
32.56
|
44.32
|
44.87
|
43.13
|
| Fuel costs |
15.36
|
18.71
|
20.27
|
20.51
|
| Total (Fertilizer and Fuel) |
47.92
|
63.03
|
65.14
|
63.64
|
| % change year-over |
NA
|
+23.9%
|
+3.2%
|
-2.3%
|
| % of Total Operating Costs Accounted for by Fertilizer and Fuel |
47%
|
52.3%
|
52%
|
51%
|
| % of Total Production Costs Accounted for by Fertilizer and Fuel |
19%
|
22.06%
|
22.1%
|
21.4%
|
| Oats |
2010
|
2011
|
2012F
|
2013F
|
| Fertilizer costs |
$36.48
|
$47.68
|
$48.27
|
$46.40
|
| Fuel costs |
$19.38
|
$24.36
|
$25.05
|
$25.34
|
| Total (Fertilizer and Fuel) |
55.86
|
72.04
|
73.32
|
71.74
|
| % change year-over |
NA
|
+28.9%
|
+1.7%
|
-2.2%
|
| % of Total Operating Costs Accounted for by Fertilizer and Fuel |
58%
|
23.3%
|
63.4%
|
62.3%
|
| % of Total Production Costs Accounted for by Fertilizer and Fuel |
18%
|
21.3%
|
21.18%
|
20.5%
|
See Comments
