NDSU Releases Crop Budget Projections For 2024

Generally, most crop budgets in all regions project a profit for the year. The North Dakota State University (NDSU) Extension projected crop budgets for 2024 are available for the state’s farmers, says Ron Haugen, NDSU Extension farm management specialist.

The 2024 projected profits vary by region and crop.

“The budgets are guides for large multicounty regions,” says Haugen. “Returns and costs can vary considerably between producers within a region. Also, the budget estimate returns to labor and management with no consideration of price and yield variability or risk. A perfect comparison of crops is not achieved because different levels of labor, management, and risk exist.”

“Generally, most crop budgets in all regions, project a profit for the year, but not as profitable as 2023,” says Haugen. “One reason is, in general, commodity prices are lower than 2023.”

Fertilizer, chemical, and fuel expenses are down, but land costs, repairs, and interest are higher.

“Specialty crops may show a positive return, but usually have limited contracts and acreages, and also may have higher risk,” says Haugen.

The NDSU Extension-developed budgets are available online at ndsu.ag/cropbudgets, or by searching online for NDSU Crop Budgets. Online, a PDF version is available as well as Excel spreadsheets for producers to fill in their own estimates.

Hard copies are available at NDSU Extension county offices.

We are Hiring!

The NDSU Extension/Burke County office is now accepting applications for the position of Administrative Assistant. This is a full-time office position at the Burke County Courthouse in Bowbells. The position includes benefits through the county including:  health insurance, a retirement plan, sick leave, and vacation time.

Contact Dan Folske, NDSU Extension Agent at 701-377-2927 or 701-339-1133 (cell) for more information.