Whether it’s done in an Excel spreadsheet or simply mulled over in one’s mind, “budgeting”, or estimating profitability of an enterprise, is an important process. Budgeting is often described as “penciling it out” before committing resources to a plan. Ohio State University Extension has had a long history of providing “Enterprise Budgets” that can be used as a starting point for producers in their budgeting process.
Newly updated Enterprise Budgets for 2005 have been completed and posted to the Farm Management Website of the Department of Agricultural, Environmental and Development Economics. Updated Enterprise Budgets have been published for the following field crops: Conservation Tillage Corn, No-Till Corn, Roundup Ready Conservation Tillage Soybeans, Roundup Ready No-Till Soybeans, Non-GMO Conservation Tillage Soybeans, and Non-GMO No-Till Soybeans. With the increased importance of new pest threats to soybeans we have included special budgets for soybeans with Asian Soybean Rust and/or Soybean Aphid pressure. These budgets include Roundup Ready No-Till Soybeans with Asian Soybean Rust Pressure, Roundup Ready No-Till Soybeans with Soybean Aphid Pressure, and Roundup Ready No-Till Soybeans with Asian Soybean Rust and Soybean Aphid Pressure. To access these budgets online, see the following website: http://aede.osu.edu/programs/FarmManagement/budgets/