COST OF FARMING

The cost of farming

Like any business owner, farmers invest in their operation. This includes equipment, crop inputs, seeds and much more.

A big investment

Equipment is one of the largest purchases farmers make to keep their operations running smoothly.

farming equipment at harvest

24-row planter

NEW Estimated between $200,000 and $300,000

Combine

NEW Estimated between $330,000 and $500,000

Grain cart

NEW Estimated between $50,000 and $95,000

close up of soybean crops

On average, a Missouri soybean farmer spends $11,526 on equipment per acre

Production costs

Each year farmers incur costs to protect crops from weeds, pests and diseases and also to provide crops the nutrients they need to be as productive as possible. These are the average costs for a Missouri farmer in one year.

Crop protection

$6,632

Crop nutrients

$10,526

Seeds

$8,316

Land purchases

$12,000 to $16,000 per an acre

dog in cab of tractor at harvest time

More than a job

Nearly every farmer will tell you that farming isn’t just their job. It’s a way of life. Farmers aren’t only monetarily invested in their farm, they are whole-heartedly vested in farming and so are their families.

Mark Lehenbauer, Missouri farmer, and two kids

Farming a legacy

For some farmers, farming is a family tradition. One that has been passed down for generations. While farmers take pride in continuing this tradition, there is also added responsibility and sometimes pressure to live up to the way of life and carry on the legacy of previous generations.

new soybean crops peaking up through the ground

Leaving it better for the next generation

A common thread of farming is the determination to leave things better for the next generation. This includes the land and resources such as soil and water. To help achieve this, many farmers implement sustainability practices on their operations.

LEARN MORE ABOUT ON-FARM SUSTAINABILITY
two farmers trying to fix a piece of farm equipment

A demanding job in challenging times

Farming isn’t easy. It’s a high cost, high risk career with the pressure to make decisions daily that impact your livelihood. Couple that with the increasing demands to produce more and better crops with less impact on natural resources, and farmers are under stress like never before. Because of this, more attention is being paid to the mental health of farmers and supporting them. Physicians, first responders and psychologists are being encouraged to pay special attention to any warning signs of extreme stress or potential depression, especially among farmers they work with.

LEARN HOW TO COPE WITH STRESS

Explore other modern agriculture practices

Precision Agriculture

This management system is focused on using new technology and information to precisely align inputs with crop needs.

LEARN MORE ABOUT PRECISION AG

Biotechnology

Using scientific tools and methods, including traditional breeding and genetic engineering, biotechnology enhances crops to have desired traits.

LEARN MORE ABOUT BIOTECH

Growing Season

Throughout the soybean growing season there are many practices farmers use to get the most out of each crop.

LEARN MORE ABOUT THE GROWING SEASON

Crop Nutrition and Soil Health

Making sure growing crops are getting the nutrients they need is an important part of farming. It all starts with healthy soil.

LEARN MORE ABOUT CROP NUTRITION

Soybean Varieties

There are many considerations that go into selecting the right soybean variety — length of growing season, end users and potential pest and weed pressures, just to name a few.

LEARN MORE ABOUT SOYBEAN VARIETIES

Sustainability

Sustainability is a pillar of soybean farming. Because of sustainable farming practices, soybean farmers have been able to farm productively for generations. Building on this productivity with best practices and new technologies helps farmers leave a lasting legacy, while cultivating a safe, abundant crop.

LEARN MORE ABOUT SUSTAINABILITY

Sources

https://extension.missouri.edu/publications/wq450

https://www.unitedsoybean.org/issue-briefs/sustainability/

https://www.usda.gov/topics/biotechnology/biotechnology-frequently-asked-questions-faqs

https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=90184

https://www.nass.usda.gov/Publications/Todays_Reports/reports/fpex0721.pdf