MSU Extension Releases 2027 Projected Cost of Production Tools for Michigan Farmers

Farmers in Michigan are facing a challenge to maintain profitability amidst rising input costs. To help them determine which inputs and practices are profitable, MSU Extension has released projected cost of production tools for corn, soybeans, and wheat.

The tools provide three versions of projected cost of production: Base Projection, Build-Up, and Push Production. The Base Projection version assumes minimal costs without sacrificing yield, while the Build-Up version includes recommended additional fertilizer inputs to build up soil nutrient levels. The Push Production version aims for maximum yield output.

The income values are derived from price projections from composite grain buyers across Michigan and yield data from USDA's National Agricultural Statistics Service. Expenses are based on various resources, including MSU Weed Control Guide, Tri-State Fertility Recommendations, and the FINBIN database.

Each tool includes individual farm values and break-even values, which can be edited by farmers to create budgets for their own operations.