1.00am - Sunday 26th December 2021 268,999

What do you think? Am I right, or am I wrong?
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Calculating how many bushels would be going to the Co-Op:
[average corn bushels per acre*acres] + [average soybean bushels per acre*acres] – [home storage] = How many bushels to the Co-Op


Freight Calculations:
[average yield*acres] = # of bushels
[# bushels/size of wagon, semi, or truck] = # of loads in a field
[# of loads*miles to and from destination] = Total miles per field
Do this for every field & add up the total milage.

Fill out the yellow boxes in this Excel sheet to calculate the rest.
https://www.extension.iastate.edu/agdm/crops/html/a3-41.html

If using custom hauling, use the rate of the custom hauler.


Co-Op Fees:

Call your local Co-Op and ask these questions (write them down):

1. What are your drying rates?
2. What do you dry stored corn to?
3. What is your shrink factor?
4. What are the storage rates?

Drying Rate Calculation
Use this Calculator to determine on farm costs.
https://www.extension.iastate.edu/agdm/crops/html/a2-31.html

Cost Of Drying Calculation
[drying rate*points dried] = Drying fee per bushel
[drying fee per bushel*Total bushels dried] = Cost of drying

Shrink Rate Calculation
On farm calculation = 100/(100-Final Moisture %) **I used 1.25%**

Shrink Loss Calculation
[shrink Factor*points dried] = % of weight lost
[% of weight lost*total bushels dried] = bushels lost to shrink
[bushels lost to shrink*current market price] = amount lost to shrink
Storage Fee Calculation

On Farm if no bins exist= Get a quote from a dealer for desired bin site. Add 30% to it = Cost of project.

Contact the FSA, bank, or whatever your choice of financing is. They will tell you your payment details. The yearly payment is your “On Farm Storage Fee” This applies to existing bin payments as well.


If @ the Co-Op:
Figure out a grain hauling game plan. What months are you going to haul? When do you want to be done hauling?

[amount of bushels*Storage fee] = Cost per month
Subtract sold bushels every month and multiply new stored amount by monthly rate. Repeat until out of grain. Unless we add/subtract daily bushels being store/sold, this calculation is a quick and dirty method but it will get us close.

[add monthly fees together for corn & soybeans] = Co-Op storage cost

Misc. Overhead On-Farm Fees:
Insurance + Property Taxes are taken from farm records. Labor & maintenance are to be estimated by time and resources used.

Add total costs from Co-Op and compare to total On Farm Storage costs.

Investing Calculator:

https://www.foundationsu.com/high-school#/advanced_entry_form
Use the advanced version & fill out the boxes

I cannot give any marketing guarantees. Consult with your grain marketing advisor for their honest opinions. I provided the numbers we are comfortable using. Every farm varies.


Happy calculating!

Resources:
https://www.extension.iastate.edu/agdm/crops/html/a3-41.html
https://www.extension.iastate.edu/agdm/crops/html/a2-31.html
https://www.extension.iastate.edu/agdm/crops/html/a2-32.html
https://www.foundationsu.com/high-school#/advanced_entry_form


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Cole The Cornstar, aka Cole, is a 4th generation family farmer from Central Iowa who is the life force behind his family’s 2,000 acre farm. Cole promotes agriculture by filming his day-to-day adventures with his Dad (Daddy Cornstar) and brother (Cooper) on the farm. With a lot of help from family, Cole instills humor and education into his videos fit for viewers of all ages.

Despite being 24-years old, Cole has an old-fashion work ethic with an innovative approach toward agricultural technology and practices. Cole's mission is to prove the American Dream is not dead and be a megaphone for agricultural education and innovation, from technological advances in farming equipment to conservation practices.

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