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What is Your Yield Potential? Establish Realistic Yield Goals Yield Potential of Soil Growing Season - Growing Degree Units Sub-soil Moisture Management Ability and Philosophy Attitude Toward Risk Willingness to Be Timely Highest recorded corn yields. Records set in 2008 have bold values.

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What is Your Yield Potential?


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what is your yield potential
What is Your Yield Potential?

Establish Realistic Yield Goals

  • Yield Potential of Soil
  • Growing Season - Growing Degree Units
  • Sub-soil Moisture
  • Management Ability and Philosophy
  • Attitude Toward Risk
  • Willingness to Be Timely

Highest recorded corn yields. Records set in 2008 have bold values.

Source: Lauer, 2008NCGA (1983-2008), PEPS (1987-2008)

peps objectives divisions and districts
PEPS Objectives, Divisions and Districts

Objectives

  • Cost analysis of grain enterprises
  • Emphasize soil and water conservation, efficiency, profitability, and competitiveness vs. productivity alone
  • Recognize the way efficient growers integrate practices into a system through:
    • PEPS Contest
    • PEPS Workshops

Divisions

  • Corn, Cash Crop: Corn following a legume or non-legume grain crop (i.e. corn, soybean, small grain, etc.) or non-legume forage or cover crops
    • No manure applied.
    • A charge for drying costs assessed.
  • Corn, Livestock: Corn following forage legume or green-manure legumes (alfalfa, red clover, etc.); and/or manure applied on land.
    • Drying costs will not be assessed.
  • Corn silage
  • Soybean

Districts

calculating grower return
Calculating Grower Return

Partial Budget Analysis

  • Corn Price per bushel
    • Price matrix: $2.00, $4.00, $6.00
    • grPEPS: Weighted Price per bushel = 50% November Average Cash price + 25% March CBOT Futures ($0.15 basis) + 25% July CBOT Futures ($0.10 basis)
      • November Average Cash price derived from WI Ag Statistics; CBOT Futures prices derived from closing price on first business day in December.
  • Grower return = (Yield x Price) - Input costs- Handling ($0.02 per bushel) - Hauling ($0.04 per bushel) - Trucking (system rate)- Drying (system rate per bushel-point > 15.5%) - Storage (system rate per 30 day)
    • Marketing plan: 50% sold at harvest, 25% at 4 months, and 25% at 8 months.
  • Corn Production Systems
    • Livestock: drying=$0.00, trucking=$0.00, storage=$0.01
    • On-farm: drying=$0.02, trucking=$0.11, storage=$0.02
    • Commercial: drying=$0.04, trucking=$0.11, storage=$0.03
pricing corn silage linn minnesota
Pricing Corn SilageLinn (Minnesota)

Silage value ($/T) = Base price + Starch adjustment + NDFD adjustment

  • Base price = Cost of production
    • $60 per DM Ton
  • Starch adjustment =

(starch% – 29%) x (0.5 bu/starch) x (corn price $/bu)

    • 29% = average starch content of corn derived from Dairyland Labs
    • 0.5 bu/T = 1% change in starch content
  • NDFD adjustment =

(NDFD%) x (0.6 lb milk/NDFD) x (milk price $/lb)

    • 0.6 lb milk = 1% NDFD derived from Allen (48-hr digestion)
corn and soybean cost of production a

1

3

2

4

5

Corn and Soybean Cost of Production ($/A)

Source: Lauer (2003-2007)

peps contest strengths and weaknesses
PEPS Contest Strengths and Weaknesses

PEPS Contest does not account for:

  • Overhead
    • Usually assessed at 18 to 46 % of production costs
    • Examples include:
      • Plowing snow
      • Fixing fence
      • Property taxes / “Real” land costs
      • Equipping shop
      • Alimony
      • Farm pick-up
      • Tiling
      • Desk management
  • “Best of the Best” – Low yielding fields not usually entered
  • Verified yields and production costs
    • History
    • Comparative
  • Since 1997, placing based on profitability
    • Prior to 1997, placing based on lowest cost per bushel
  • Soil loss within tolerable “T” level
    • USLE; USDA-NRCS
  • Entry fee = $25, no limit to number of entries
  • Entry deadline = August 1
  • Awards = $100 to winner for each district/division
  • Total fields evaluated = 2340
how can you get involved in peps
How can you get involved in PEPS?
  • Contest versus Verification options
  • Does it pay to grow corn on my farm?
    • Do I know my production costs?
    • If I do, how do I compare?
    • How efficient is my operation?
    • Am I a good steward?
    • If I make changes, how does that affect my bottom-line?
  • What role can agents/dealers/consultants play in PEPS?
    • Promote among producers who would benefit (helping with forms, soil loss and yield checks)
    • Encourage National Corn Growers Association yield contestants to enter
    • Provide input to PEPS committee from “real world”
    • Financial sponsorship
know your production costs changes in grower return with peps participation
Know Your Production CostsChanges in Grower Return With PEPS Participation

Source: Lauer (PEPS, 1987-2003, n= 128)