Farm Business

[Jeff_a_Caldwell]

Purdue released some study results today showing what could be some double-digit increases in variable costs for the 2011 crop. Here's an excerpt from a report about it today:

"For rotational corn, which is most of the corn in Indiana, our estimates show variable costs in 2011 up around 13 percent compared with 2010," says Bruce Erickson, Purdue's director of cropping systems management. "Soybean production costs will be up around 6 percent, and for winter wheat we're estimating that costs will be 13 percent higher. If you grow continuous corn, you can expect to spend about 14 percent more next year."

Here are some of the specific numbers 

So, do you anticipate seeing cost increases like these next year? If so, are you doing anything to plan ahead to hedge some of those costs? Curious to hear what you think.