The total cost to grow a winter wheat crop in South Dakota is estimated to rise by 10 to 15 percent for the 2006 crop, Davis said. He added that the majority of the crop costs increase is caused by higher fertilizer costs.
"Fertilizer cost for the 2006 crop is expected to be up 15 to 25 percent over last year's cost," Davis said. "This larger cost could result in a $3.50 to $6.50 decrease per acre in the bottom line."
Increased steel and fuel prices will also result in higher operating cost of machinery. Operating costs could lift total cost by an estimated $3 to $3.50 per acre because of the increase in fuel prices and equipment cost. Higher interest rates may add up to $1.50 an acre in increased cost for next year's crop.
Contact your local county Extension office for more assistance with crop budgets.