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Soybean price drop
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<blockquote data-quote="Son of Butch" data-source="post: 1511995" data-attributes="member: 14585"><p>With Non-Land expenses averaging $295 acre and 52 bushel yield </p><p>(52 bushels is the Record High national average set in 2016) </p><p>$295 + 180 rent = 475 divided by 52 bu = 9.13 breakeven</p><p>How much profit is there when beans average a nickel over breakeven?</p><p>190 acres x 52.6 bushels = 10,000 bushels x .05 = $500 year</p><p></p><p>IF your land rent is $230 acre then breakeven = 10.09 bu</p><p>Land rent has to be under $150 acre for 52 bushel beans to = 8.50</p><p></p><p>In 1972 when beans were $4.00 bu minimum wage was $1.60 hr</p><p>1978 minimum wage was 2.65 hr and beans were over $6</p><p>2018 and most states are well over $8.50 hr minimum wage</p><p></p><p>Even now many cattle forum members refer to full time farmers as having a hobby and complain that people don't </p><p>tip 15-20% to their wives and children working in restaurants for minimum wage.</p><p></p><p>We've become a nation of burger flippers.</p></blockquote><p></p>
[QUOTE="Son of Butch, post: 1511995, member: 14585"] With Non-Land expenses averaging $295 acre and 52 bushel yield (52 bushels is the Record High national average set in 2016) $295 + 180 rent = 475 divided by 52 bu = 9.13 breakeven How much profit is there when beans average a nickel over breakeven? 190 acres x 52.6 bushels = 10,000 bushels x .05 = $500 year IF your land rent is $230 acre then breakeven = 10.09 bu Land rent has to be under $150 acre for 52 bushel beans to = 8.50 In 1972 when beans were $4.00 bu minimum wage was $1.60 hr 1978 minimum wage was 2.65 hr and beans were over $6 2018 and most states are well over $8.50 hr minimum wage Even now many cattle forum members refer to full time farmers as having a hobby and complain that people don't tip 15-20% to their wives and children working in restaurants for minimum wage. We've become a nation of burger flippers. [/QUOTE]
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