$684 = $274 acre... not including...
diesel fuel, spring tillage, planting, harvesting, drying/storage, fall plowing... so actual cost closer to
$800 or $320 acre to produce 160 bushels = $2.00 bushel
And either land rent or ownership costs would still need to be included to calculate true cost.
180 rent + 320 production = $500 divided by 160 = 3.12 bushel breakeven
180 rent + 274 = $454 = 2.84 bushel breakeven
Elevator is paying 2.85 (basis 55 cents under Chicago) processed and sold as feed 3.85 bushel (45 cents over Chicago)