2020 Cost of Production

Special Crops

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Date: January, 2020

This tool is available as an Excel worksheet at: or at your local is also available to helpdetermine machinery costs.

The is also available for producers to

Special Crop Production Costs - 2020Guidelines For Estimating

The following budgets are estimates of the cost of producing selected special field crops in Manitoba. General Manitoba Agriculture and Resource Development recommendations are assumed in using fertilizers and chemical inputs. These figures provide an economic evaluation of the crops and estimated yields required to cover all costs. Costs include labour, investment and depreciation, but do not include management costs, nor do they necessarily represent the average cost of production in Manitoba.

These budgets may be adjusted by putting in your own figures. As a producer you are encouraged to calculate your own costs of production for various crops. On each farm, costs and yields differ due to soil type, climate and agronomic practices.

Note: This budget is only a guide and is not intended as an in depth study of the cost of production of this industry. Interpretation and use of this information is the responsibility of the user. If you need help with a budget, contact your local Manitoba Agriculture and Resource Development office.

estimate the cash cost of producing field crops on their farm on an annual basis. CropPlan calculates marginal returns, breakeven yields, breakeven crop prices on total production and remaining unsold inventory, land and machinery cost analysis and cash based finanical ratios.

The Farm Machinery Custom and Rental Rate Guide

www.manitoba.ca/agriculture

CropPlan Production Cost Calculator

Manitoba Agriculture and Resource Development office.

Guidelines: Special Crop Production Costs 2

Manitoba Agriculture and Resource Development

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil Your FarmA. Operating Costs

Seed & Treatment $83.75 $50.00 $126.00 $39.60 $25.00 $14.08 $20.00Fertilizer $50.17 $50.17 $50.17 $18.45 $27.24 $43.36 $10.80Herbicide $67.66 $40.05 $67.66 $14.75 $5.63 $13.83 $14.75Fungicide $28.57 $0.00 $32.73 $0.00 $0.00 $8.89 $14.50Insecticide $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Fuel $17.01 $18.80 $16.55 $17.29 $15.74 $17.53 $15.32Machinery Operating $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00Machinery Lease $2.88 $2.88 $2.88 $2.88 $2.88 $2.88 $2.88Rental and Custom $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Crop Insurance $29.35 $31.99 $37.36 $31.99 $16.25 $17.06 $14.05Hail Insurance $11.03 $12.60 $11.03 $11.03 $15.75 $6.30 $9.45Other Costs $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75Land Taxes $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00Drying Costs $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Interest on Operating $8.89 $6.58 $10.37 $4.64 $3.88 $4.31 $3.70Total Operating $332.06 $245.82 $387.49 $173.37 $145.13 $160.98 $138.21

B. Fixed CostsLand Costs $67.06 $67.06 $67.06 $67.06 $67.06 $67.06 $67.06Machinery Costs $72.69 $67.31 $72.69 $67.31 $67.31 $67.31 $67.31Storage Costs $3.41 $1.94 $2.84 $4.54 $1.82 $3.52 $2.13Total Fixed $143.16 $136.30 $142.59 $138.91 $136.18 $137.88 $136.49Total Operating & Fixed $475.21 $382.12 $530.08 $312.28 $281.31 $298.87 $274.70

C. Labour $26.40 $26.40 $26.40 $26.40 $26.40 $26.40 $26.40

Total Costs $501.61 $408.52 $556.48 $338.68 $307.71 $325.27 $301.10

Estimated FarmgateTarget Price $ per unit $0.32 $0.55 $0.41 $0.09 $13.50 $0.22 $0.19Premium $ per unit $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Target Yield per acre 1,800 750 1,500 2,400 16 1,550 1,125Unit type lb lb lb lb bu lb lbGross Revenue / acre $576.00 $412.50 $615.00 $216.00 $216.00 $341.00 $213.75

Revenue Ranking 2 3 1 5 5 4 7

Operating Expense Ratio 57.6% 59.6% 63.0% 80.3% 67.2% 47.2% 64.7%

Marginal Returns Over Operating Costs $243.94 $166.68 $227.51 $42.63 $70.87 $180.02 $75.54Over Operating & Fixed $100.79 $30.38 $84.92 ($96.28) ($65.31) $42.13 ($60.95)Over Total Costs (Net Profit) $74.39 $3.98 $58.52 ($122.68) ($91.71) $15.73 ($87.35)

Profitability Ranking 1 4 2 7 6 3 5

Return on Investment (ROI) 14.83% 0.97% 10.52% (36.22%) (29.80%) 4.84% (29.01%)Return on Asset (ROA) 5.38% 3.26% 4.92% (0.25%) 0.55% 3.63% 0.68%

Breakeven Price Per UnitOver Operating Costs $0.18 $0.33 $0.26 $0.07 $9.07 $0.10 $0.12Over Operating & Fixed Costs $0.26 $0.51 $0.35 $0.13 $17.58 $0.19 $0.24Over Total Costs $0.28 $0.54 $0.37 $0.14 $19.23 $0.21 $0.27

Breakeven Yield (Bu or lb.)Over Operating Costs 1037.7 446.9 945.1 1926.4 10.8 731.7 727.4Over Operating & Fixed Costs 1485.0 694.8 1292.9 3469.8 20.8 1358.5 1445.8Over Total Costs 1567.5 742.8 1357.3 3763.1 22.8 1478.5 1584.8

Breakeven Yield Risk Ratio 115% 101% 111% 64% 70% 105% 71%(Target Yield per Acre / BE Yield)

Note: This budget is only a guide and is not intended as an in depth study of the cost of production of this industry. Interpretation and utilization of this information is the responsibility of the user.

Special Crop Production Costs 2020 Guidelines (Dollars Per Acre)

Profitability Analysis

Breakeven Analysis

Guidelines: Special Crop Production Costs 3

Manitoba Agriculture and Resource Development

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil Your Farm

AgriInsurance 80% Insured Value $455.70 $380.69 $532.26 $168.32 $159.84 $270.11 $147.31Premium Cost (% of Insured) 6.4% 8.4% 7.0% 19.0% 10.2% 6.3% 9.5%

Costs Not Covered By AgriInsuranceOperating Costs $0.00 $0.00 $0.00 $5.05 $0.00 $0.00 $0.00Operating & Fixed Costs $19.51 $1.43 $0.00 $143.96 $121.47 $28.76 $127.39Total Costs $45.91 $27.83 $24.22 $170.36 $147.87 $55.16 $153.79

AgriInsurance Risk Ratio (AgriInsurance Coverage / Cost)Operating Costs 137% 155% 137% 97% 110% 168% 107%Total Costs 91% 93% 96% 50% 52% 83% 49%

Risk Ranking 4 6 5 1 3 7 2(Lower number indicates increasing risk)

Percent Market Price Change -10.0%Percent Crop Yield Change -5%

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil Your Farm

Market Price ($ per unit) $0.29 $0.50 $0.37 $0.08 $12.15 $0.20 $0.17Yield (per acre) 1710 713 1425 2280 15 1473 1069

Stress Test Scenario = Market Price Down 10%, and Crop Yield Down 5%Gross Revenue / acre $492.48 $352.94 $525.83 $184.68 $182.25 $291.65 $182.80Marginal Returns Over Operating Costs $160.42 $107.12 $138.34 $11.31 $37.12 $130.67 $44.59 Over Operating & Fixed $17.27 ($29.18) ($4.25) ($127.60) ($99.06) ($7.21) ($91.90) Over Total Costs (Net Profit) ($9.13) ($55.58) ($30.65) ($154.00) ($125.46) ($33.61) ($118.30)Profitability Ranking 1 4 2 7 6 3 5

Operating Expense Ratio 67.4% 69.6% 73.7% 93.9% 79.6% 55.2% 75.6%

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil Your Farm

MASC Seeded Acreage 5 Year Average Acres 23,028 16,628 11,901 8,179 7,453 5,225 3,514Acre Ranking 1 2 3 4 5 6 7

2019 Acres 27,308 10,009 12,358 8,052 6,766 3,179 1,542Acre Ranking 1 3 2 4 5 6 7

Risk & Sensitivity Analysis (Stress Test)

Note: This budget is only a guide and is not intended as an in depth study of the cost of production of this industry. Interpretation and utilization of this information is the responsibility of the user.

AgriInsurance Analysis

Acreage Analysis

Guidelines: Special Crop Production Costs 4

Manitoba Agriculture and Resource Development

137%

155%

137%

97%

110%

168%

107%

91% 93% 96%

50% 52%

83%

49%

0%

20%

40%

60%

80%

100%

120%

140%

160%

180%

$0.00

$100.00

$200.00

$300.00

$400.00

$500.00

$600.00

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil

$ Pe

r Acr

eManitoba - 80% Insured Value AgriInsurance Risk

Analysis - 2020

80% Insured Value 80% Coverage of Operating Costs 80% Coverage of Total Costs

Manitoba Agriculture & Resource Development

115%

101%

111%

64%70%

105%

71%

0%

20%

40%

60%

80%

100%

120%

140%

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil

Manitoba Breakeven Yield Risk Ratio - 2020

Target Yield as % of B/E Yield

Manitoba Agriculture & Resource Development

Analysis of your AgriInsurance Coverage of Operating and Total

Costs is an important step in RiskManagement Planning for your farm.

Analysis of ROI (Reward) and the associated AgriInsurance Coverage

of Total Costs (Risk) is useful in comparing the profitability and cost efficiency alongside the production cost risk when evaluating crops to include in your rotation and is an

important step in Risk Management Planning for your farm.

Analysis of your Breakeven Yields compared to Target (or average) Yields gives an indication of how

close to B/E ($0 profit = 100%) each crop in your rotation is if faced with potential production or market price

challenges and is an important step in Risk Management Planning.

14.8% 1.0% 10.5%

-36.2% -29.8%

4.8%

-29.0%

91% 93% 96%

50% 52%

83%

49%

0%

20%

40%

60%

80%

100%

120%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

Black Bean Hempseed Kidney Bean Fababean Buckwheat Canaryseed Lentil

Manitoba Risk & Reward Analysis - 2020

Return on Investment (Reward) 80% Coverage of Total Costs (Risk)

Manitoba Agriculture & Resource Development

Guidelines: Special Crop Production Costs 5

Manitoba Agriculture and Resource Development

Seeding Rate Price CostCrop per Acre per Unit per Acre

Hempseed 20 lb $2.50 /lb $50.00Black Bean 1.25 unit $67.00 /unit $83.75Kidney Bean 1.4 unit $90.00 /unit $126.00Buckwheat 1.0 bu $25.00 /bu $25.00Canaryseed 44 lb $0.32 /lb $14.08Fababean 180 lb $0.22 /lb $39.60Lentil 2.0 bu $10.00 /bu $20.00

Bulk Price Actual Nutrient Nitrogen SulphurFertilizer Type $/tonne $/lb Usage Usage

Nitrogen: (urea) 46-0-0 $500 $0.493 50% -Nitrogen: (NH3) 82-0-0 $790 $0.437 50% -Nitrogen: (liquid) 28-0-0 $320 $0.518 0% -Phosphorus: 11-52-0 $615 $0.432 - -Potash: 0-0-60 $470 $0.355 - -Sulphur: 20.5-0-0-24 $425 $0.382 - 100%MES S15: 13-33-0-15 $630 $0.527 - 0%

TotalCrop lbs $/acre lbs $/acre lbs $/acre lbs $/acre $/acre

Hempseed 80 $37.20 30 $12.97 0 $0.00 0 $0.00 $50.17Black Bean 80 $37.20 30 $12.97 0 $0.00 0 $0.00 $50.17Kidney Bean 80 $37.20 30 $12.97 0 $0.00 0 $0.00 $50.17Buckwheat 40 $18.60 20 $8.64 0 $0.00 0 $0.00 $27.24Canaryseed 70 $32.55 25 $10.80 0 $0.00 0 $0.00 $43.36Fababean 0 $0.00 25 $10.80 0 $0.00 20 $7.64 $18.45Lentil 0 $0.00 25 $10.80 0 $0.00 0 $0.00 $10.80

*

* For more information on fertilizer rates and recommendations - *

Weed Disease Insect TotalControl Control Control Cost

Crop $/acre $/acre $/acre $/acreHempseed $40.05 $0.00 $0.00 $40.05Black Bean $67.66 $28.57 $0.00 $96.23Kidney Bean $67.66 $32.73 $0.00 $100.39Buckwheat $5.63 $0.00 $0.00 $5.63Canaryseed $13.83 $8.89 $0.00 $22.72Fababean $14.75 $0.00 $0.00 $14.75Lentil $14.75 $14.50 $0.00 $29.25

Note: Pre-emergent burn off and/or pre-harvest desiccation not included in weed control costs.Chemical costs do not include year end rebates or bundling discounts. Disease Control costs do not include custom application costs.

Note: phosphorus amounts are allotted to each crop in the above examples. Sometimes this amount may not be practical or safe to apply with the seed of some crops like soybean or canola. Options for meeting these needs and phosphorus balance through the rotation are provided at:

Chemicals

Seed & Treatment

Fertilizer

Amount of Actual Pounds of Elements Applied Per AcreNitrogen Phosphorus Potash Sulphur

The fertilizer recommendation will vary depending on the soil type, climate and crop rotation. MB Ag. recommends that soil test sampling and analysis be conducted each year to produce a better baseline for fertility. It costs $1.00 to $2.00/acre for custom sampling and analysis.

Nitrogen Rate Calculator

Phosphorus Balance Calculator

Guidelines: Special Crop Production Costs 6

Manitoba Agriculture and Resource Development

Interest Rate on Operating 5.50% Grain HaulingLand Taxes ($/acre) $15.00 Distance to storage 6 miles roundtripLabour rate ($/hour) $24.00 Distance to market 45 miles roundtripMachinery Operating ($/acre) $10.00 Grain truck fuel use 5 Miles per Imp. GallonOther Costs ($/acre) $7.75 Grain truck size 475 bushelsFuel Cost ($/litre) $0.95

Labour Crop* Hail Drying StorageCrop (hrs/acre) Fuel Insurance Insurance Costs $/acre** Seeding Application Swathing Harvest General Total

Hempseed 1.1 $18.80 $31.99 $12.60 - $1.94 - - - - - $0.00Black Bean 1.1 $17.01 $29.35 $11.03 - $3.41 - - - - - $0.00Kidney Bean 1.1 $16.55 $37.36 $11.03 - $2.84 - - - - - $0.00Buckwheat 1.1 $15.74 $16.25 $15.75 - $1.82 - - - - - $0.00Canaryseed 1.1 $17.53 $17.06 $6.30 - $3.52 - - - - - $0.00Fababean 1.1 $17.29 $31.99 $11.03 - $4.54 - - - - - $0.00Lentil 1.1 $15.32 $14.05 $9.45 - $2.13 - - - - - $0.00

* 80% Insured Value - Based on MASC Risk Areas 2, 5, 6, & 12 ** Storage costs are listed under Fixed Costs on the Summary Page.

TotalCrop L/acre 2.25 3.5 0.75 2.5 1.3 0.42 1.13 5.54 2

Hempseed 19.79 1 1 2 1 2 1 2 1.66Black Bean 17.91 1 2 1 3 1 1 2 2.93Kidney Bean 17.42 1 2 1 3 1 1 2 2.44Buckwheat 16.57 1 1 1 2 1 1 2 1.56Canaryseed 18.46 1 1 1 3 1 1 2 3.03Fababean 18.20 1 1 1 3 1 2 3.90Lentil 16.13 1 1 1 3 1 2 1.83

swather combine3/4 ton pickup

grain hauling

Trucks L/acreNumber of Field Operations & Litres Fuel Per Acre Per Operation

Operating Costs

cultivator or tandem disk

high speed disk

harrow or land roller air drill

row planter SP sprayer

Field Fuel Usage

Rental and Custom CostsOperating Cost ($/Acre)

Guidelines: Special Crop Production Costs 7

Manitoba Agriculture and Resource Development

Land Conventional Special Average Land value ($/acre) $3,000 Machinery Crop Crop Conventional Crop acres 2,000 Total Investment ($/acre) $500.00 $40.00 Special Crop acres 500 Residual Value (End of Useful Life) 25% Owned Land Equity 85% Useful Life (years) 15 Land Financed 15% Owned Equipment Equity 55% Land Opportunity Cost (Investment Rate) 1.50% Equipment Financed 45%Land cost ($/acre) Machinery Opportunity Cost (Investment Rate) 1.50% Finance Rate & Term 4.000% 25 Years Principle & Interest Cost $28.81 Machinery Cost ($/acre) Owned Land Opportunity Cost $38.25 Finance Rate & Term 4.500% 7 Years Total Cost $67.06 Principle & Interest Cost $38.18 $3.05

Machinery Depreciation Cost $25.00 $2.00Grain Storage Usage % Cost Owned Machinery Opportunity Cost $4.13 $0.33 Non-aeration bins 15% $1.75 /bu $67.31 $5.38 Aeration bins 70% $2.40 /bu Hopper bins 15% $4.20 /bu Storage Financed 60% Machinery Lease cost ($/acre) $2.88

Market Grain Grain Market Grain GrainPower & Misc Equipment Value Usage % Allocation Harvest Equipment Value Usage % Allocation

4WD Tractor 475HP $250,000 100% $250,000 Combine $260,000 100% $260,000MFWD Tractor 150HP $100,000 100% $100,000 Swather 35 ft $30,000 100% $30,0002WD Tractor 60HP $30,000 75% $22,500 PTO Auger 13x70 $15,000 100% $15,000ATV Quad $6,000 75% $4,500 Auger 8x35 $4,000 100% $4,000

$0 0% $0 Harvest Header $50,000 100% $50,000$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0

Total $377,000 Total $359,000

Market Grain Grain Market Grain GrainSeeding, Tillage, Spraying Value Usage % Allocation Trucks & Trailers Value Usage % Allocation

Cultivator $20,000 100% $20,000 Tandem grain truck $60,000 100% $60,000Harrow 80ft $30,000 100% $30,000 Grain cart $35,000 100% $35,000Air tank $60,000 100% $60,000 $0 100% $0Air drill $125,000 100% $125,000 $0 0% $0SP sprayer $175,000 100% $175,000 $0 0% $0Miscellaneous $9,000 100% $9,000 $0 0% $0

$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0

Total $419,000 $419,000 Total $95,000

Owned Equipment TOTAL $1,250,000

Market Grain Grain Market Grain GrainSeeding, Tillage, Spraying Value Usage % Allocation Harvest Equipment Value Usage % Allocation

Planter $100,000 100% $100,000 enter equipment here $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0

Total $100,000 Total $0Special Equipment TOTAL $100,000

Annual Grain Grain Annual Grain GrainSeeding, Tillage, Spraying Lease Usage % Allocation Trucks & Trailers Lease Usage % Allocation

enter equipment here $0 0% $0 3/4 ton pickup $9,600 75% $7,200$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0$0 0% $0 $0 0% $0

Total $0 $0 Total $7,200

Leased Equipment TOTAL $7,200 $2.88 per acre* Leased equipment costs are listed under Operating Costs on the Summary Page.

Fixed Costs

Conventional Crop Equipment Inventory and Current Values

Special Crop Equipment Inventory and Current Values

Leased Equipment Inventory

Guidelines: Special Crop Production Costs 8

Manitoba Agriculture and Resource Development

Fuel Costs: Includes fuel used for field work, trucking in inputs and trucking out production.

Machinery Operating Costs: Includes costs for maintenance, repairs, licenses and insurance.

Crop Insurance: (2019 rates)

Other Costs: Includes overhead expenses - hydro, telephone, accounting, buildings, supplies and insurance, etc.

Interest On Operating: Interest charges on operating costs are calculated at 5.5% for six months.

Land Cost:

P&I Cost (based on $1,125,000 Mortgage) = $72,013 payments per year) / 2500 acres = $28.81/acre)Investment = (Total Investment x Owned Equity %) x Investment Rate % (eg. (($3,000 x 85%) x 1.5%) = $38.25/acre)

Machinery Cost:

P&I Cost (based on $562,500 + $45,000 Loans) = $95,457 + $7,637 payments per year) / 2500 acres = $38.18 and $3.05/acre)Depreciation (Useage Cost) = (Total Investment - Residual Value) / Years Useful Life (eg. ($500.00 - ($500.00 x 25%)) / 15 = $25.00/acre)Investment = (Total Investment x Owned Equity %) x Investment Rate % (eg. ($500 x 55%) x 1.5%) = $4.13/acre)

Depreciation Cost = Original Cost - Salvage Value Useful LifeInvestment Cost = Original Cost + Salvage Value x Investment Rate 2Estimated Farmgate Values: Target crop prices are based on deferred delivery contract prices for fall 2020. Target yields are estimated based on 5 year MASC average yields.

Storage Cost:Storage costs for each crop are based on estimated yields entered on the Summary page. Budget assumed 60% financed at 4% for 20 years.

Profitability, Breakeven & Risk Analysis Formulas:Gross Revenue = Price per unit x Yield per acre (eg. kidney bean: $0.41/lb x 1500lb/ac = $615.00/ac)Net Profit = Gross Revenue - Total Cost (eg. kidney bean: $615.00 gross revenue - $556.48 total cost = $58.52 per acre)Operating Expense Ratio = (Operating Cost / Gross Revenue) x 100 (eg. kidney bean: $387.49 operating expense / $615 revenue = 63.0%)Return on Investment (ROI) = (Gross Revenue - Total Cost) / Total Cost (eg. kidney bean: ($615.00 - $556.48) / $556.48 = 10.5%)Estimated Return on Asset (ROA) = (Margin Over Operating - Labour - Machinery Depreciation) / (Land Investment Cost + Machinery Investment Cost) (eg. kidney bean: ($227.51 margin - $26.40 labour - $27.00 dep.) / ($3000 land cost + $500.00 conv. machinery + $40.00 special crop. mach.) = 4.92%) Breakeven Price = Cost / Target Yield (eg. kidney bean cost $556.48 / 1500 lb = $0.37 per lb)Breakeven Yield = Cost / Target Price per Unit (eg. kidney bean cost $556.48 / $0.41 lb = 1357.3 lb)Breakeven Yield Risk Ratio = (Yield per Acre / Breakeven Yield) x 100 (eg. kidney bean yield 1500 lb/ac / 1357.3 lb BE = 111 %)AgriInsurance Risk Ratio = (AgriInsurance Coverage / Operating Cost) x 100 (eg. kidney bean coverage $532.26/ac / $387.49 operating expense = 137 %)

Created and maintained by January, 2020For more information, contact your local Darren Bond Roy Arnott Sharon ArdronFarm Management Specialist A/Manager Farm Management Farm Management Specialist

Land Taxes: The average cost based on land tax assessment and mill rates of a sample of municipalities growing crops less provincial tax rebate.

Other Assumptions

80% Insured Value coverage, $50/acre excess moisture Insurance, and additional hail insurance at $200/acre coverage for all crops. Coverage and costs based on MASC Risk Areas #2, 5, 6, and 12.

Based on approximate average land values. Budget assumed 15% financed at 4% for 25 years, plus 1.5% land equity opportunity cost. Budget can be used to estimate cashflow by removing investment cost.

Based on approximate average machinery values. Budget assumed 45% financed at 4.5% for 7 years, depreciation costs over 15 years with a 25% residual value, plus 1.5% machinery equity opportunity cost. Budget can be used to estimate cashflow by removing depreciation and investment cost.

Farm storage requirements were assumed to cost $1.75/bushel for 15% of the storage, $2.40/bushel for 70% aerated storage and $4.20/bushel for 15% hopper storage.

Manitoba Agriculture and Resource Development Farm ManagementManitoba Agriculture and Resource Development Office or:

Contact us• Go to manitoba.ca/agriculture

• Toll free at 1-844-769-6224

• Email us at mbfarmbusiness@gov.mb.ca

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• Visit your local Manitoba Agriculture and Resource Development Office

Available in alternate formats upon request.