I'm glad you are not trying to make a killing, 'only' averaging $600 profit per acre. ;) ;) ;) ;) ;) ;) ;)
I like your enthusiasm, but you gotta rethink your numbers _big_ time.
The average harvest in Tennessee appears to be 34 bu per acre, on a 5 year rolling average.
If you want to beat that average, you need to invest a lot in lime, fertilizer, and good good seed.
In my time, I've gotten over $9 a bu beans a handful of times - we are in the gravy train yet on beans, frankly I donno why they are so high yet. I've gotten Under $5 a bu more often than I've gotten over 9.
So, to be realistic, you need to be looking at 40 bu average yield, and $7.50 or less price.
That's 300 gross per acre, or $15,000 gross on your 50 acres.
THAT is reality over the long haul.
Take your costs out of the $15,000 - and you will have your net. (Combining should be $1100, fert will be $2500, seed $1500, herbicide $500 + 150 application. Land cost - I donno what rent is in your area? It's either side of $200 an acre 'here', or about $10,000. Total costs could be $15,750.)
So - you just lost $750 for the year, if you are about average....... Maybe your land rent is lower, but it won't make you a rich man.
A good year where you get 60 bu beans and 9 plus dollar beans - time to celebrate!
Hope it makes up for the times you get 28 bu beans and $4.80 a bu.....
While being here in MN I don't know much about raising crops in your climate, you gotta look at reality on the yields and prices.
We can go from there. :)
Again, like your enthusiazm, and good luck with the plans. :)
Ain't gonna make a living on 50 acres of commodity crops any more.
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