As producers start to wrap up 2013 harvest, decisions for 2014 will soon need to be made. Of immediate attention is the decision of whether to plant wheat. The recommended planting window will soon be closing. Other decisions will soon focus on variety selection for 2014 as suppliers generally start booking the varieties for the next year. Considering those decisions, the 2014 crop plan has definitely started as producers start sketching out their 2014 cropping plan. Some of the cropping plan may be guided by crop rotation but a large part of the plan is profitability or perceived profitability based. Most projections for 2014 look for lower prices than 2013.   This table below should be used as a guide as yields, prices, and expenses will vary among producers and locations. Expenses will vary among producers and production systems. For reference, in variable expenses below, fertilizer expense per acre is estimated as follows: cotton – $ 119, Soybeans – $46, Corn – $130 (includes 150 units of N), Milo – $106, and wheat/soybeans – $104. As we start to look at 2014 cropping decisions, cost of production will be adjusted as information becomes available. Projected yields used in these estimates are based on 5 year average Tennessee yields.  Weed control costs with resistant weeds have also been difficult to estimate. These costs will vary greatly among producers and individual fields.  Production costs are estimates based on the 2013 University of Tennessee Crop Budgets and projections for 2014 fertilizer prices. Please visit with your farm supplier on estimated cost in your area.

Producers with owned land and or cash rent can use Returns Over Variable as a guide in decision making. Producers with share rent ground should use Returns Over Variable and Land Costs as a guide with their appropriate share rent calculated. A land cost of 25% of revenue is used in the table as a guide or method of comparison and should not be construed as the appropriate rent for a particular area. Producers who are not making major equipment changes can use UT budgets and this table as a guide in developing their own cropping decision budgets. If equipment changes are being made, then a whole farm financial plan would be better suited as a decision aid. Please contact your local County Extension office or Area Specialist – Farm Management for assistance in developing your own budget or farm financial plan.