By Jon LaPorte and Eric Anderson
Farm profitability is a bottom-line priority for farmers and is a challenge in any year, but particularly in times when input costs are on the rise and grain prices are flat or falling. When margins are tight, farmers need to know their cost of production to determine what inputs and practices are profitable and which ones may need to be put on hold. The new 2026 Projected Cost of Production for Soybeans tool from Michigan State University Extension is intended to serve as a starting point for discussions on both expected income and expenses for individual farms.
There are three versions of the cost of production tool included in a single downloadable Excel file:
- The Base Projection version provides an estimate for farms seeking to minimize costs without sacrificing yield. It uses a yield goal of 50 bushels per acre with aligning chemical plans and assumes a fertility plan based solely on rate of nutrient removal.
- The Build-Up version is the same base model as the Base Projection but includes added fertility based on sample soil test results that recommend additional fertilizer inputs to build up soil test levels.
- The Push Production version provides an estimate for farms seeking to push maximum yield output. It uses a yield goal of 75 bushels per acre with aligning chemical plans and fertilizer inputs based solely on rate of nutrient removal.
Source : msu.edu