Last update: Wednesday, January 14, 2015 Corn vs. Soybeans Scenario #1 Scenario #2 Scenario #3 Scenario #4 Three year average corn and soybean yields: Corn Beans 200 60 190 55 170 50 160 40 Scenario #1 Scenario #2 Scenario #3 Scenario #4 Gross Revenue per acre Corn Beans $737 $556 $700 $509 $626 $463 $590 $371 2015 Corn Variable Costs: Fert: Seed: Chem: Custom Rate: Insurance: Additional Interest Cost: Drying : Soybean Variable Costs: $137 $132 $18 $130 $22 $14 $17 --------------$470 Additional costs per acre: Aphids/Rust $50 $48 $18 $72 $17 $14 --------$219 Difference $181 $191 $163 $219 $251 Corn vs. Soybean after variable expenses: Dec '15 Corn Futures: Harvest Basis: $4.09 ($0.40) Nov '15 Bean Futures: Harvest Basis $9.91 ($0.65) $3.69 Scenario #1 Scenario #2 Scenario #3 Scenario #4 $9.26 Fertilizer pricing: Urea DAP Potash Application Corn on corn analysis N P 180 60 per ton $423.00 $530.00 $489.00 Per acre cost: $71.97 $34.57 $24.45 $6.00 $136.98 Copyright © 2015 Professional Ag Marketing, Inc. Reproduction in any form without the expressed written consent of Professional Ag Marketing, Inc. is strictly forbidden. This data is provided for information purposes only and is not intended to be used for specific trading strategies without consulting Professional Ag Marketing, No guarantee of any kind is implied or possible where projections of future conditions are attempted. Past results are no indication of future performance. All information is based upon data that is believed to be reliable, but its accuracy is not guaranteed. K 60 ($70) ($61) ($88) ($32)