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[null,null,null,null,null,null,null,null,"Version 1.0"]
["Crop Land Rental Rate Calculator"]
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[null,null,null,null,null,null,null,null,"Date: January,",2024]
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[null,"This guide is designed to provide planning information, economic considerations, and a format for calculating fair and reasonable values for crop land rental rates for both tenants and land owners to share the risks and rewards associated with annual crop production in Manitoba. General Manitoba Agriculture recommendations are assumed for input costs and economic calculations. Non economic considerations such as land care, tenure, and personal attributes are not included in the calculations but should be considered in any land rental agreement. The calculated rental values do not necessarily represent the average crop land rental rates in Manitoba.  "]
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[null,"These budgets may be adjusted by putting in your own figures. As a producer you are encouraged to calculate your own crop land rental rates for land with differing productive capacity. On each farm, costs and yields differ due to soil type, climate and agronomic practices.  "]
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[null,"This tool is available as an Excel worksheet at: "]
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[null,null,null,null,null,null,"    is also available to help "]
[null,"determine machinery costs."]
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[null,"Note: This budget is only a guide and is not intended as an in-depth study of agricultural land values. Interpretation and use of this information is the responsibility of the user. If you need help with a budget, contact a Farm Management Specialist."]

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[null,{"$f":"\"RentPlan - General Information \"&Intro!J19","v":"RentPlan - General Information 2024"}]
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["What is the fair market rent for farmland in Manitoba? This is a question that both landlords and producers ask quite often. Unfortunately there’s no rent transaction listings for land rental rates in Manitoba, making it difficult to determine what others are paying. However it is important to remember what makes rental agreements successful for both producers and landlords alike. This includes:"]
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[null,"•  The landlord and producer should be open and honest with each other, and be able to resolve disagreements cordially. "]
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[null,"•  To maximize long term profit, the terms of the lease should be fair to both the landlord and producer. "]
[null,"•  Written agreements help to prevent conflict between the landlord and producer, and force them to think through an equitable and reasonable lease. "]
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[null,"Manitoba Agriculture's Contracts and Leases."]
[null,"•  Leases should be flexible enough to permit fair adjustments to any unexpected situations. "]
[null,"•  A lease should be adapted to suit each individual situation, yet remain simple enough to work."]
[null,"•  The lease period should also be long enough to allow the producer to adopt good farming practices."]
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["There are ways to start the discussion on determining the value of fair market rent in absence of knowing what others are paying and receiving. The two most common methods of calculating fair market rent are:"]
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["1.       Production cost based land rental rate."]
["2.       Land value based rental rate."]
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["The production cost based land rental rate method is calculated from the producer’s perspective. Essentially this method determines the costs associated with growing crops, factors in the probable yield and projected price of the crops, and identifies the producer profit expectation in growing the crops. What is left is the maximum cash land rental amount that can be reasonably paid by a producer. The strength of this method is that it is a very logical way to calculate what a producer can pay for land rent – whatever is left over after all costs and profit expectation are removed is the maximum that can be paid for rent. The downside to this method is that most producers grow a combination of crops during the land rental period, making the calculations more complicated. RentPlan factors this into account by creating a weighted average for the crops grown during the rental period."]
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["The land value based rental rate method is calculated from the landowner’s perspective. This method considers the value of the land and what a similar type of investment would yield on an annual basis. The strength of this calculation is that it is easy to do – take the value of the land and multiply by a similar investment (in terms of both risk and return) rate of return. The weakness to this method is one has to know the value of the land. Land that is valued higher than the agricultural value of land (for example, land next to an urban setting that has subdivision potential) will often yield results higher than the market land rental rates. An important point to remember using this method is to choose a comparable investment rate of return for a low risk asset."]
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["Flexible Land Rental Agreements"]
["It is common for landlords who are willing to take on some risk to consider flexible land rental options. With this option, landlords can choose to capture a higher rental rate in years with above average returns, in return for receiving a lower rental rate in years with below average returns. Over the long run these rates will average out, however this option allows landowners to give a financial break to their producer tenants in poor years, while allowing them to share in the profits during a good year. An important component to these agreements is that there is a level of trust, communication and cooperation between the landlord and producer."]
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["Flexible lease agreements can be complicated so it is best to keep the procedures to calculate flexible rent simple with only 1 or 2 variables. The simplest flexible rent is only having the yield be the variable component. A range of percentage of probable yield would be agreed upon ahead of time to create the rental range for the flexible rent agreement. Another common flexible rental agreement is having both yield and grain price be the variables. With this option, it is important to determine how the grain price will be determined. Manitoba Agriculture and Resource Development’s Contracts and Leases  have more great information on flexible rental agreements."]
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["Manitoba Agriculture's Contracts and Leases."]
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["Further Considerations"]
["There are some further considerations both landlords and producers should have when entering into rental agreements. Timing of payment is an important factor with most agreements ranging from 100% paid in the spring before seeding, to half in spring and half in fall after harvest, to 100% paid in fall. Generally the earlier the payment is made, the less risk there is to the landlord for non-payment, which often leads to a small discount in the cash land rental amount. Please see Rentplan’s Further Considerations page (link above) for more information on how to calculate rental discounts for early payment."]
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["Recently there has been a focus on the change in nutrient levels in soils during the duration of a land rental agreement. If a landlord has a higher nutrient level in the soil at the start of an agreement and a lower nutrient level at the end of an agreement, there is a hidden cost to the lower nutrient ending levels. Likewise, if a producer builds up the nutrient levels in the rented land during the land rental agreement and is not compensated for this, the cost of renting the land is more expensive to the producer than just the land rental amount. Please see Rentplan’s Further Considerations  page (link above) for more information on how to calculate costs associated with differing nutrient levels."]

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["Rentplan User Guide "]
["Rentplan can be used by both farm producer and landowners in Manitoba to assist in the determination of fair and reasonable crop land rental rates.  Follow the steps below to successfully use RentPlan for your crop land rental rate calculation. "]
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["Step #1 - Land Rent Worksheet:"]
[null,"Crop Production, Revenue and Cost Summary:"]
[null,null,"Select Crops - select your crops grown on your farm based on your planned crop rotation during the rental agreement period."]
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[null,null,"Acres - enter the total acres for each crop grown on your farm to calculate the weighted average gross revenue and production costs."]
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[null,null,"Probable Yield - adjust the default probable yield for each crop selected, based on your farms average yields."]
[null,null,"Price - adjust grain prices to reflect the average net market price for the duration of the crop year."]
[null,null,"Operating Costs Per Acre - to review and change operating costs, click on the link or go to the Production Costs Worksheet. Make any changes required for the crops selected for your farm's actual production costs. Use the dropdown menus to select Crop Insurance and Hail Insurance levels."]
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[null,"Calculation #1 - Producer Production Cost Maximum Land Rental Rate:"]
[null,null,"Producer Profit Expectation - enter your farms desired level of profit per acre. Typical range is $10 to $50 per acre depending on a wide range of factors specific to each individual circumstance."]
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[null,null,"Production Cost Based Land Rental - low to high range is calculated in $ per acre. "]
[null,null,"Share of Margin Over Operating Costs & Gross Revenue Graphs- indicate percentage share of land rent, producer profit, operating costs, equipment costs, storage costs, labour & owner salary. "]
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[null,"Calculation #2 - Land Value Based Rental Rate:"]
[null,null,"Land Value - enter land value per acre. Values are typically based on assessed value or productive value rather than solely based on market or trade value."]
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[null,null,"Investment Rate of Return - enter investment or opportunity cost percentage rate. "]
[null,null,"Property Tax - enter your local average property tax rate in $ per acre. "]
[null,null,"Land Value Based Rental Rate - is calculated in $ per acre."]
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["Step #2 - Flexible Land Rent Worksheet:"]
[null,"Current Crop Grown - select your crop for flexible rent determination for the current year."]
[null,"Probable Yield Per Acre - enter your average or probable yield per acre for your farm. This can be found on your MASC Statement of Insurance or your IPI for each crop."]
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[null,"Probable Price Per Unit - enter your projected or probable price per unit for your farm."]
[null,"Land Rental Rate - enter rate per acre. Default value is average of Land Rental Rate in Calculation #1."]
[null,"Minimum Rate % - enter percent rate, less that 100%. Typically range is 70 to 90% per acre."]
[null,"Maximum Rate % - enter percent rate, more that 100%. Typically range is 110 to 130% per acre."]
[null,"Actual Yield Per Acre - enter your final marketable yield after harvest."]
[null,"Actual Price Per Unit - enter your final marketed price after harvest."]
[null,"Flexible Land Rental Payment - is calculated in $ per acre."]
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["Step #3 - Further Considerations:"]
[null,"#1 Land Rental Breakeven Calculations: For the range of land rental rates the share of margin over operating costs and gross revenue are calculated. The breakeven (before profit) land rental rate is calculated and the  share of margin over operating costs and gross revenue. "]
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[null,"#2 Flexible Land Rental Breakeven Calculation: The breakeven (before profit) yield and percentage of probable yield is calculated. "]
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[null,"#3 Estimated Land Value Calculation - Based on Land Rental Rates: A range of estimated land market values are calculated based on land rental rates and investment rate of returns. "]
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[null,"#4 Discount for Early Payment - enter operating interest rate (time value of money) percentage to calculate the value of early full or partial payment discount for producers."]
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[null,"#5 Soil Test (Nutrient Bank) Level Comparison - enter nitrogen and phosphate soil test values, term of rental agreement, and current fertilizer costs per tonne to calculate the change in value of nutrient bank account balance."]
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[null,"#5 Total Landowner Return on Asset (ROA) - enter long term annual land value appreciation rate percentage. To calculate landowner total ROA of land rent payable and land value appreciation. "]
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[null,"#7 Local Area Land Rental Rate Comparison - enter local area low range and high range land rental rates (if known) to calculate comparison to cashflow or investment rate of return land rental rate payable."]
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["Step #4 - Information:"]
[null,"Refer to the Information page for more in- depth  information on both the producer and landowner perspectives in calculating fair and reasonable crop land rental rates.  Links to other Manitoba Agriculture and Resource Development resources can also be found here."]

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[". . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "]
["Land Rental Rate Calculation",null,null,null,null,null,null,null,"Printed:",{"$f":"TODAY()","v":"2023-12-11"}]
["Note: Land rental rate analysis is part of long term strategic planning for your farm and caution should be exercised if short term crop yields and prices are utilized. It is generally recommended for land rental rate planning and analysis that a minimum of 3 to 5 year average crop yields and commodity price outlook should be considered.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Manitoba","Risk Area #1","Risk Area #2","Risk Area #3","Risk Area #4","Risk Area #5","Risk Area #6","Risk Area #7","Risk Area #8","Risk Area #9","Risk Area #10","Risk Area #11","Risk Area #12","Risk Area #32","Risk Area #14","Risk Area #15","Risk Area #16"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"(Select Crop)","Wheat - Hard Red Spring","Wheat - Northern Hard Red","Wheat - Prairie Spring","Wheat - Winter","Oats","Barley","Hybrid Fall Rye","Corn","Canola","Soybeans","Sunflower","Flaxseed","Peas","Beans - Pinto","Beans - White","Beans - Black",{"$f":"'Production Costs'!U5","v":"Other Crop"},{"$f":"'Production Costs'!V5","v":"Other Crop"}]
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[{"$f":"Intro!J19&\" Crop Production, Revenue & Cost Summary \"","v":"2024 Crop Production, Revenue & Cost Summary "}]
[{"$f":"IF('Production Costs'!B30=\"Manitoba\",\"\",'Production Costs'!B30)","v":""},null,"Your Farm ","Canola","Wheat - Hard Red Spring","Soybeans","Oats","(Select Crop)","(Select Crop)","(Select Crop)",null,null,null,null,null,null,null,"Canola","Wheat - Hard Red Spring","Soybeans","(Select Crop)","(Select Crop)","(Select Crop)","(Select Crop)"]
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["Your Crop Acres",null,{"$f":"SUM(D11:J11)","v":2500},1000,500,500,500,0,0,0,null,null,null,null,null,null,null,1000,1000,500,0,0,0,0]
[null,"(Percent of Crop Rotation)",{"$f":"SUM(D12:J12)","v":1},{"$f":"IF(D11=0,\"\",D11/$C$11)","v":0.4},0.2,0.2,0.2,"","",""]
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["Probable Yield per Acre (bu or lb.)",null,null,{"$f":"IF($D$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$D$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":42},{"$f":"IF($E$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$E$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60},{"$f":"IF($F$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$F$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":35},{"$f":"IF($G$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$G$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":105},{"$f":"IF($H$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$H$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0},{"$f":"IF($I$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$I$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0},{"$f":"IF($J$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$J$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0},null,null,null,null,null,null,null,{"$f":"IF($D$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$D$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":42},{"$f":"IF($E$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$E$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60},{"$f":"IF($F$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$F$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":35},{"$f":"IF($G$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$G$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":105},{"$f":"IF($H$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$H$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0},{"$f":"IF($I$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$I$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0},{"$f":"IF($J$9=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP('Land Rent '!$J$9,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":0}]
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["Price ($ per Unit)",null,null,{"$f":"IF($D$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$D$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":15.75},{"$f":"IF($E$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$E$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25},{"$f":"IF($F$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$F$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":15.25},{"$f":"IF($G$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$G$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":5},{"$f":"IF($H$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$H$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0},{"$f":"IF($I$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$I$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0},{"$f":"IF($J$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$J$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0},null,null,null,null,null,null,null,{"$f":"IF($D$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$D$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":15.75},{"$f":"IF($E$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$E$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25},{"$f":"IF($F$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$F$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":15.25},{"$f":"IF($G$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$G$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":5},{"$f":"IF($H$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$H$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0},{"$f":"IF($I$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$I$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0},{"$f":"IF($J$9=\"(select crop)\",0,VLOOKUP('Land Rent '!$J$9,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":0}]
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["Operating Costs/Acre",null,{"$f":"IF($C$12<>100%,\"ERROR\",SUM(IF(D$12=\"\",0,D18*$D$12)+IF(E$12=\"\",0,E18*$E$12)+IF(F$12=\"\",0,F18*$F$12)+IF(G$12=\"\",0,G18*$G$12)+IF(H$12=\"\",0,H18*$H$12)+IF(J$12=\"\",0,J18*$J$12)+IF(I$12=\"\",0,I18*$I$12)))","v":370.05604820361634},{"$f":"IF(OR(D9=\"(select crop)\",D11=0),\"\",HLOOKUP('Land Rent '!D9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":435.35419654719556},{"$f":"IF(OR(E9=\"(select crop)\",E11=0),\"\",HLOOKUP('Land Rent '!E9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":367.56064592875089},{"$f":"IF(OR(F9=\"(select crop)\",F11=0),\"\",HLOOKUP('Land Rent '!F9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":301.74619607303839},{"$f":"IF(OR(G9=\"(select crop)\",G11=0),\"\",HLOOKUP('Land Rent '!G9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":310.26500592190143},{"$f":"IF(OR(H9=\"(select crop)\",H11=0),\"\",HLOOKUP('Land Rent '!H9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":""},{"$f":"IF(OR(I9=\"(select crop)\",I11=0),\"\",HLOOKUP('Land Rent '!I9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":""},{"$f":"IF(OR(J9=\"(select crop)\",J11=0),\"\",HLOOKUP('Land Rent '!J9,'Production Costs'!$A$5:$V$25,14,FALSE))","v":""}]
["Owner Labour & Living/Ac",null,{"$f":"IF($C$12<>100%,\"ERROR\",SUM(IF(D$12=\"\",0,D19*$D$12)+IF(E$12=\"\",0,E19*$E$12)+IF(F$12=\"\",0,F19*$F$12)+IF(G$12=\"\",0,G19*$G$12)+IF(H$12=\"\",0,H19*$H$12)+IF(J$12=\"\",0,J19*$J$12)+IF(I$12=\"\",0,I19*$I$12)))","v":27},{"$f":"IF(D9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!D9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":27},{"$f":"IF(E9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!E9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":27},{"$f":"IF(F9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!F9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":27},{"$f":"IF(G9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!G9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":27},{"$f":"IF(H9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!H9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":""},{"$f":"IF(I9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!I9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":""},{"$f":"IF(J9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!J9,'Production Costs'!$A$5:$V$25,19,FALSE))","v":""},null,"**HIDE**"]
["Equipment Costs/Acre",null,{"$f":"IF($C$12<>100%,\"ERROR\",SUM(IF(D$12=\"\",0,D20*$D$12)+IF(E$12=\"\",0,E20*$E$12)+IF(F$12=\"\",0,F20*$F$12)+IF(G$12=\"\",0,G20*$G$12)+IF(H$12=\"\",0,H20*$H$12)+IF(J$12=\"\",0,J20*$J$12)+IF(I$12=\"\",0,I20*$I$12)))","v":89.14599750353068},{"$f":"IF(D9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!D9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":89.14599750353068},{"$f":"IF(E9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!E9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":89.14599750353068},{"$f":"IF(F9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!F9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":89.14599750353068},{"$f":"IF(G9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!G9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":89.14599750353068},{"$f":"IF(H9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!H9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":""},{"$f":"IF(I9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!I9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":""},{"$f":"IF(J9=\"(select crop)\",\"\",HLOOKUP('Land Rent '!J9,'Production Costs'!$A$5:$V$25,17,FALSE))","v":""},null,"**HIDE**"]
[]
["Gross Revenue per Acre1",null,{"$f":"IF(C12<>100%,\"ERROR\",SUM(IF(D12=\"\",0,D22*$D$12)+IF(E12=\"\",0,E22*$E$12)+IF(F12=\"\",0,F22*$F$12)+IF(G12=\"\",0,G22*$G$12)+IF(H12=\"\",0,H22*$H$12)+IF(J12=\"\",0,J22*$J$12)+IF(I12=\"\",0,I22*$I$12)))","v":587.35},{"$f":"IF(D12=\"\",\"\",SUM(D16*D14))","v":661.5},555,533.75,525,"","",""]
[]
["Marginal Return"]
[null,"Over Operating Costs",{"$f":"IF($C$12<>100%,\"ERROR\",SUM(IF(D$12=\"\",0,D25*$D$12)+IF(E$12=\"\",0,E25*$E$12)+IF(F$12=\"\",0,F25*$F$12)+IF(G$12=\"\",0,G25*$G$12)+IF(H$12=\"\",0,H25*$H$12)+IF(J$12=\"\",0,J25*$J$12)+IF(I$12=\"\",0,I25*$I$12)))","v":217.29395179638362},{"$f":"IF(OR(D9=\"(select crop)\",D11=0),\"\",D22-D18)","v":226.14580345280444},187.43935407124911,232.00380392696161,214.73499407809857,"","",""]
[]
[]
["1.  Gross Revenue Per Acre = Price per unit x Yield per acre (weighted based on % of crop rotation)"]
[]
["Calculation Option #1 - Production Cost Based Land Rental Rate"]
[]
[null,null,null,null,null,null,null,"Per Acre"]
[null,null,"Gross revenue",null,null,null,null,{"$f":"C22","v":587.35}]
[null,"-","Operating Costs",null,null,null,null,{"$f":"C18","v":370.05604820361634}]
[null,"-","Owner Labour & Living Costs",null,null,null,null,{"$f":"C19","v":27}]
[null,"-","Equipment Costs",null,null,null,null,{"$f":"C20","v":89.14599750353068}]
[null,"=","Maximum Breakeven Land Rental (before profit)",null,null,null,null,{"$f":"SUM(H33-H34-H35-H36)","v":101.147954292853}]
[]
[null,null,null,null,null,null,"Per Acre",null,"Per Acre"]
[null,null,"Producer Profit Expectation (range)",null,null,null,15,null,30]
[]
[null,"=","Production Cost Based Rental Rate",null,null,null,null,{"$f":"\"          $\"&ROUND(SUM(H37-I40),0)&\"   to   $\"&ROUND(SUM(H37-G40),0)&\"    (Avg. $\"&ROUND(((H37-I40)+(H37-G40))/2,0)&\"/acre)\"","v":"          $71   to   $86    (Avg. $79/acre)"}]
[null,"=","Maximum Cash Land Rental Payable",null,null,null,{"$f":"ROUND(SUM(H37-I40),0)","v":71},"to   ",{"$f":"ROUND(SUM(H37-G40),0)","v":86}]
[]
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[]
[null,null,"Landowner Share (gross revenue)",null,null,null,{"$f":"ROUND((I43/C22)*100,1)","v":14.6},"%",null,null,null,null,"**HIDE**"]
[null,null,"Landowner Share (margin over operating)",null,null,null,{"$f":"ROUND((I43/(C25))*100,1)","v":39.6},"%",null,null,null,null,"**HIDE**"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM((G43-H77)/(H75))","v":1.7108433734939758E-2},null,{"$f":"SUM((I43-H77)/(H75))","v":2.0722891566265059E-2},{"$f":"SUM((((G43+I43)/2)-H77)/(H75))","v":1.8915662650602409E-2},null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"**based on land value and taxes below***",null,null,null,"**HIDE**"]
[null,null,"Producer Profit Share (gross revenue)",null,null,null,{"$f":"SUM(G40/H33)*100","v":2.5538435345194519},"%",{"$f":"SUM(I40/H33)*100","v":5.1076870690389038},"%",null,null,"**HIDE**"]
[null,null,"Producer Profit Share (margin over operating)",null,null,null,{"$f":"SUM(G40/C25)*100","v":6.9030913543584607},"%",{"$f":"SUM(I40/C25)*100","v":13.806182708716921},"%",null,null,"**HIDE**"]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"SUM((C22-(C18+C19+C20+I43))/(C18+C19+C20+I43))","v":2.6473086572300936E-2},null,{"$f":"SUM((C22-(C18+C19+C20+G43))/(C18+C19+C20+G43))","v":5.4105964838287932E-2},{"$f":"SUM((C22-(C18+C19+C20+((G43+I43)/2)))/(C18+C19+C20+((G43+I43)/2)))","v":4.0106024876343675E-2},null,{"$f":"SUM((C22-(C18+C19+C20+H37))/(C18+C19+C20+H37))","v":0},"**HIDE**"]
[null,"Cash Land Rent:",null,null,null,null,null,null,null,null,null,null,"**HIDE**"]
[null,"Breakeven % of Gross Revenue (Max BE Land Rental/Gross Revenue)",null,null,null,null,{"$f":"SUM(H37/C22)","v":0.17221069940044778},null,null,null,null,null,"**HIDE**"]
[null,"Breakeven % of MOA (Max BE Land Rental/MOA)",null,null,null,null,{"$f":"SUM(H37/C25)","v":0.46548904586002554},null,null,null,null,null,"**HIDE**"]
[]
["Calculation Option #2 - Land Value Based Rental Rate"]
[null,null,"Land Value (local market or assessed value)",null,null,null,null,4150,"/acre"]
[null,"x","Investment Rate of Return",null,null,null,2.25,"%           to",2.75,"%"]
[null,"+","Property taxes (area average value) ",null,null,null,null,0,"/acre"]
[]
[null,"=","Land Value Based Rental Rate",null,null,null,{"$f":"\"$\"&G87&\"  to  $\"&H87&\"/acre   (Avg. $\"&I87&\"/acre) \"","v":"$93  to  $114/acre   (Avg. $104/acre) "}]
[null,null,null,null,null,null,{"$f":"\"(Average Rent to Land Price ratio \"&TEXT((I87/H75)*100,\"0.0\")&\"%)\"","v":"(Average Rent to Land Price ratio 2.5%)"}]
[]
[null,null,"Gross revenue",null,null,null,{"$f":"C22","v":587.35},null,null,null,null,null,"**HIDE**"]
[null,"-","Operating Costs",null,null,null,{"$f":"C18","v":370.05604820361634},null,null,null,null,null,"**HIDE**"]
[null,"-","Labour /Owner Salary Costs",null,null,null,{"$f":"C19","v":27},null,null,null,null,null,"**HIDE**"]
[null,"-","Equipment Costs",null,null,null,{"$f":"C20","v":89.14599750353068},null,null,null,null,null,"**HIDE**"]
[null,"-","Storage Costs",null,null,null,null,null,null,null,null,null,"**HIDE**"]
[null,"-","Land Rent",null,null,null,{"$f":"ROUND(SUM($H$75*(G$76/100))+$H$77,0)","v":93},{"$f":"ROUND(SUM($H$75*(I$76/100))+$H$77,0)","v":114},{"$f":"ROUND(AVERAGE(G87:H87),0)","v":104},null,null,null,"**HIDE**"]
[null,"=","Producer Profit Margin",null,null,null,{"$f":"ROUND(SUM($G$82-$G$83-$G$84-$G$85-$G$86)-G87,0)","v":8},{"$f":"ROUND(SUM($G$82-$G$83-$G$84-$G$85-$G$86)-H87,0)","v":-13},{"$f":"ROUND(SUM($G$82-$G$83-$G$84-$G$85-$G$86)-I87,0)","v":-3}]
[]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"SUM(($G$82-($G$83+$G$85+$G$86+$G$84+G87))/($G$83+$G$85+$G$86+$G$84+G87))","v":1.406755095780985E-2},{"$f":"SUM(($G$82-($G$83+$G$85+$G$86+$G$84+H87))/($G$83+$G$85+$G$86+$G$84+H87))","v":-2.1412865549308407E-2},null,null,null,null,"**HIDE**"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM((G87-$H$77)/($H$75))","v":2.2409638554216866E-2},{"$f":"SUM((H87-$H$77)/($H$75))","v":2.7469879518072289E-2},null,null,null,null,"**HIDE**"]
["Land Rental Analysis"]
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["Note: This budget is only a guide and is not intended as an in-depth study of agricultural land values. Interpretation and use of this information is the responsibility of the user.  If you need help with a budget, contact a Farm Management Specialist."]

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[]
[". . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "]
["Flexible Land Rental Calculation ",null,null,null,null,null,null,null,"Printed:",{"$f":"TODAY()","v":"2023-12-11"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Land Rent '!D9","v":"Canola"},{"$f":"'Land Rent '!E9","v":"Wheat - Hard Red Spring"},{"$f":"'Land Rent '!F9","v":"Soybeans"},{"$f":"'Land Rent '!G9","v":"Oats"},{"$f":"'Land Rent '!H9","v":"(Select Crop)"},{"$f":"'Land Rent '!I9","v":"(Select Crop)"},{"$f":"'Land Rent '!J9","v":"(Select Crop)"}]
["Minimum & Maximum Rental Rate Calculation"]
[]
["Step #1",null,null,null,"Current Year Crop to be Grown ","Wheat - Hard Red Spring"]
["Step #2"]
[null,null,null,{"$f":"\"Probable \"&F7&\" Yield per Acre\"","v":"Probable Wheat - Hard Red Spring Yield per Acre"},{"$f":"IF($F$7=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60},"(bu or lb.)",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60}]
[null,null,null,{"$f":"\"Probable \"&F7&\" Price per Unit\"","v":"Probable Wheat - Hard Red Spring Price per Unit"},{"$f":"IF($F$7=\"(select crop)\",0,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25},"(bu or lb.)",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25}]
[]
["Step #3",null,null,"Land Rental Rate",{"$f":"('Land Rent '!$G$43+'Land Rent '!$I$43)/2","v":78.5},"/acre",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"('Land Rent '!$G$43+'Land Rent '!$I$43)/2","v":78.5},"/acre"]
[]
[]
["Step #4"]
["x",80,"%",null,null,"x",120,"%",null,null,null,null,null,null,null,null,null,null,80,"% reduction",null,null,"+",120]
["=",{"$f":"ROUND(SUM($E$12*($B$16/100)),0)","v":63},"/acre  Minimum Rental Rate",null,null,"=",{"$f":"ROUND(SUM($E$12*($G$16/100)),0)","v":94},"/acre  Maximum Rental Rate",null,null,null,null,null,null,null,null,null,null,{"$f":"ROUND(SUM($E$12*($B$16/100)),0)","v":63},"/acre",null,null,"=",{"$f":"ROUND(SUM($E$12*($G$16/100)),0)","v":94}]
[]
[]
["Flexible Land Rental Rate Calculation"]
[]
[]
["Step #5",null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60},{"$f":"\"Actual \"&F7&\" Yield per Acre (bu or lb)\"","v":"Actual Wheat - Hard Red Spring Yield per Acre (bu or lb)"},null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,HLOOKUP('Production Costs'!$B$30,'Data (HIDE)'!$A$3:$F$19,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,3,FALSE),FALSE))","v":60}]
[null,null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25},{"$f":"\"Actual \"&F7&\" Price ($/unit)\"","v":"Actual Wheat - Hard Red Spring Price ($/unit)"},null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF($F$7=\"(select crop)\",0,VLOOKUP($F$7,'Data (HIDE)'!$A$49:$C$65,2,FALSE))","v":9.25}]
[null,null,null,"÷",{"$f":"E9","v":60},{"$f":"\"Probable \"&F7&\" Yield per Acre (bu or lb)\"","v":"Probable Wheat - Hard Red Spring Yield per Acre (bu or lb)"}]
[null,null,null,"÷",{"$f":"E10","v":9.25},{"$f":"\"Probable \"&F7&\" Price per Unit (bu or lb)\"","v":"Probable Wheat - Hard Red Spring Price per Unit (bu or lb)"}]
[null,null,null,"=",{"$f":"SUM(E23/E9)*(E24/E10)*100","v":100},"% of Probable Yield & Price Factor"]
[]
[null,null,null,"x",{"$f":"E12","v":78.5},"Land Rental Rate "]
[null,null,null,"=",{"$f":"ROUND(SUM(E29*((E27/100))),0)","v":79},"/acre Flex Rental Value (after harvest)",null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"ROUND(E27,0)&\"% = (\"&$E$23&\" bu actual yield / \"&$E$9&\" bu probable yield) X ($\"&$E$24&\"/bu actual price / \"&$E$10&\"/bu probable price)\"","v":"100% = (60 bu actual yield / 60 bu probable yield) X ($9.25/bu actual price / 9.25/bu probable price)"}]
[]
[]
[]
[null,null,{"$f":"\"If less than Minimum Rate, then $\"&B17&\"/acre\"","v":"If less than Minimum Rate, then $63/acre"},null,null,null,{"$f":"\"If more than Maximum Rate, then $\"&G17&\"/acre\"","v":"If more than Maximum Rate, then $94/acre"}]
[]
[]
[]
[]
[null,null,null,{"$f":"\"Total Flexible Land Rental Payment Due = $\"&IF(E30<B17,B17,IF(E30>G17,G17,E30))&\"/acre\"","v":"Total Flexible Land Rental Payment Due = $79/acre"}]
["Step #6"]
[]
[]
["Flexible Land Rental Analysis"]
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[]
[null,null,"Landowner Share (gross revenue)",null,null,null,{"$f":"ROUND((G86/G78)*100,1)","v":14.2},"%","FLEX",null,null,null,"**HIDE**"]
[null,null,"Landowner Share (margin over operating)",null,null,null,{"$f":"ROUND((G86/(G78-G79))*100,1)","v":42.1},"%","FLEX",null,null,null,"**HIDE**"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM((G86-'Land Rent '!$H$77)/('Land Rent '!$H$75))","v":1.9036144578313253E-2},null,"FLEX",null,null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"FLEX"]
[null,null,"Producer Profit Share (gross revenue)",null,null,null,{"$f":"SUM(G85/G78)*100","v":-1.388584402212895},"%","FLEX",null,null,null,"**HIDE**"]
[null,null,"Producer Profit Share (margin over operating)",null,null,null,{"$f":"SUM(G85/(G78-G79)*100)","v":-4.1115396873124794},"%","FLEX",null,null,null,"**HIDE**"]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"SUM((G78-(G79+G80+G81+G82+G86))/(G79+G80+G81+G82+G86))","v":-1.3695668110961295E-2},"%","FLEX",null,null,null,"**HIDE**"]
[]
[null,null,"Gross revenue",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,8,FALSE)*E23","v":555},null,"FLEX",null,null,null,"**HIDE**"]
[null,"-","Operating Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,10,FALSE)","v":367.56064592875089},null,"FLEX",null,null,null,"**HIDE**",null,{"$f":"SUM(G79:G82)+G86","v":562.70664343228157},"costs"]
[null,"-","Labour /Owner Salary Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,11,FALSE)","v":27},null,"FLEX",null,null,null,"**HIDE**",null,{"$f":"E24","v":9.25},"price"]
[null,"-","Equipment Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,12,FALSE)","v":89.14599750353068},null,"FLEX",null,null,null,"**HIDE**",null,{"$f":"SUM(O79/O80)","v":60.833150641327734},"bu BE Yield"]
[null,"-","Storage Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,13,FALSE)","v":0},null,"FLEX",null,null,null,"**HIDE**",null,{"$f":"O81/E9","v":1.013885844022129},{"$f":"\"or \"&ROUND(O81,1)&\" bu to BE\"","v":"or 60.8 bu to BE"}]
[null,"=","Maximum Breakeven Land Rental",null,null,null,{"$f":"SUM(G78-G79-G80-G81-G82)","v":71.293356567718433},null,"FLEX",null,null,null,"**HIDE**",null,{"$f":"ROUND(O81,1)&\" bu or \"&ROUND(O82*100,1)&\"% of probable yield to BE\"","v":"60.8 bu or 101.4% of probable yield to BE"}]
[null,null,null,null,null,null,null,null,null,null,null,null,"**HIDE**"]
[null,"-","Producer Profit",null,null,null,{"$f":"SUM(G83-IF($E$30<$B$17,$B$17,IF($E$30>$G$17,$G$17,$E$30)))","v":-7.7066434322815667},"/acre","FLEX",null,null,null,"**HIDE**"]
[null,"=","Cash Land Rental Payable",null,null,null,{"$f":"ROUND(SUM(G83-G85),0)","v":79},"/acre","FLEX",null,null,null,"**HIDE**"]
[]
[null,null,"Landowner Share (gross revenue)",null,null,null,{"$f":"ROUND((G104/G96)*100,1)","v":14.2},"%","BASE",null,null,null,"**HIDE**"]
[null,null,"Landowner Share (margin over operating)",null,null,null,{"$f":"ROUND((G104/(G96-G97))*100,1)","v":82.4},"%","BASE",null,null,null,"**HIDE**"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM((G104-'Land Rent '!$H$77)/('Land Rent '!$H$75))","v":1.5180722891566266E-2},null,"BASE",null,null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"BASE"]
[null,null,"Producer Profit Share (gross revenue)",null,null,null,{"$f":"SUM(G103/G96)*100","v":-23.132126899162515},"%","BASE",null,null,null,"**HIDE**"]
[null,null,"Producer Profit Share (margin over operating)",null,null,null,{"$f":"SUM(G103/(G96-G97)*100)","v":-134.36356792935314},"%","BASE",null,null,null,"**HIDE**"]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"SUM((G96-(G97+G98+G99+G100+G104))/(G97+G98+G99+G100+G104))","v":-0.18786426809719836},"%","BASE",null,null,null,"**HIDE**"]
[]
[null,null,"Gross revenue",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,8,FALSE)*ROUND($E$9*($B$16/100),0)","v":444},null,"BASE",null,null,null,"**HIDE**"]
[null,"-","Operating Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,10,FALSE)","v":367.56064592875089},null,"BASE",null,null,null,"**HIDE**"]
[null,"-","Labour /Owner Salary Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,11,FALSE)","v":27},null,"BASE",null,null,null,"**HIDE**"]
[null,"-","Equipment Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,12,FALSE)","v":89.14599750353068},null,"BASE",null,null,null,"**HIDE**"]
[null,"-","Storage Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,13,FALSE)","v":0},null,"BASE",null,null,null,"**HIDE**"]
[null,"=","Maximum Breakeven Land Rental",null,null,null,{"$f":"SUM(G96-G97-G98-G99-G100)","v":-39.706643432281567},null,"BASE",null,null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"BASE",null,null,null,"**HIDE**"]
[null,"-","Producer Profit",null,null,null,{"$f":"SUM(G101-B17)","v":-102.70664343228157},"/acre","BASE",null,null,null,"**HIDE**"]
[null,"=","Cash Land Rental Payable",null,null,null,{"$f":"ROUND(SUM(G101-G103),0)","v":63},"/acre","BASE",null,null,null,"**HIDE**"]
[]
[null,null,"Landowner Share (gross revenue)",null,null,null,{"$f":"ROUND((G122/G114)*100,1)","v":14.1},"%","MAX",null,null,null,"**HIDE**"]
[null,null,"Landowner Share (margin over operating)",null,null,null,{"$f":"ROUND((G122/(G114-G115))*100,1)","v":31.5},"%","MAX",null,null,null,"**HIDE**"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM((G122-'Land Rent '!$H$77)/('Land Rent '!$H$75))","v":2.2650602409638555E-2},null,"MAX",null,null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"MAX"]
[null,null,"Producer Profit Share (gross revenue)",null,null,null,{"$f":"SUM(G121/G114)*100","v":13.257260745903668},"%","MAX",null,null,null,"**HIDE**"]
[null,null,"Producer Profit Share (margin over operating)",null,null,null,{"$f":"SUM(G121/(G114-G115)*100)","v":29.585024683654609},"%","MAX",null,null,null,"**HIDE**"]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"SUM((G114-(G115+G116+G117+G118+G122))/(G115+G116+G117+G118+G122))","v":0.1528342413428869},"%","MAX",null,null,null,"**HIDE**"]
[]
[null,null,"Gross revenue",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,8,FALSE)*ROUND($E$9*($G$16/100),0)","v":666},null,"MAX",null,null,null,"**HIDE**"]
[null,"-","Operating Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,10,FALSE)","v":367.56064592875089},null,"MAX",null,null,null,"**HIDE**"]
[null,"-","Labour /Owner Salary Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,11,FALSE)","v":27},null,"MAX",null,null,null,"**HIDE**"]
[null,"-","Equipment Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,12,FALSE)","v":89.14599750353068},null,"MAX",null,null,null,"**HIDE**"]
[null,"-","Storage Costs",null,null,null,{"$f":"HLOOKUP('Flexible Land Rent'!$F$7,'Land Rent '!$D$9:$J$26,13,FALSE)","v":0},null,"MAX",null,null,null,"**HIDE**"]
[null,"=","Maximum Breakeven Land Rental",null,null,null,{"$f":"SUM(G114-G115-G116-G117-G118)","v":182.29335656771843},null,"MAX",null,null,null,"**HIDE**"]
[null,null,null,null,null,null,null,null,"MAX",null,null,null,"**HIDE**"]
[null,"-","Producer Profit",null,null,null,{"$f":"SUM(G119-G17)","v":88.293356567718433},"/acre","MAX",null,null,null,"**HIDE**"]
[null,"=","Cash Land Rental Payable",null,null,null,{"$f":"ROUND(SUM(G119-G121),0)","v":94},"/acre","MAX",null,null,null,"**HIDE**"]
[]
["Note: This budget is only a guide and is not intended as an in-depth study of agricultural land values. Interpretation and use of this information is the responsibility of the user.  If you need help with a budget, contact a Farm Management Specialist."]

{"sheet":"Further Considerations","index":5,"n_rows":81,"n_cols":11,"rows_kept":81,"cut":false,"hidden":false,"merged":[[78,0,79,9],[7,1,8,9],[10,1,11,9],[15,1,16,9],[67,2,67,4],[36,7,36,8]]}
[]
[". . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "]
[null,null,null,null,null,null,null,null,"Printed:",{"$f":"TODAY()","v":"2023-12-11"}]
["Crop Land Rental Rate - Further Analysis"]
[]
["#1 - Land Rental Breakeven Calculations"]
[]
[null,{"$f":"\"Maximum Land Rental Payable (with $\"&'Land Rent '!G40&\" to $\"&'Land Rent '!I40&\"/acre producer profit) is calculated at $\"&'Land Rent '!G43&\" to $\"&'Land Rent '!I43&\" per acre (\"&ROUND('Chart Data (HIDE)'!F43,2)*100&\" to \"&ROUND('Chart Data (HIDE)'!G43,2)*100&\"% of margin over operating costs or \"&ROUND('Chart Data (HIDE)'!F30,2)*100&\" to \"&ROUND('Chart Data (HIDE)'!G30,2)*100&\"% of gross revenue).\"","v":"Maximum Land Rental Payable (with $15 to $30/acre producer profit) is calculated at $71 to $86 per acre (33 to 40% of margin over operating costs or 12 to 15% of gross revenue)."}]
[]
[]
[null,{"$f":"\"Maximum Breakeven Land Rental (before profit) is calculated at $\"&TEXT('Land Rent '!H37,\"#.##\")&\" per acre (\"&ROUND('Land Rent '!G72,2)*100&\"% of margin over operating costs or \"&ROUND('Land Rent '!G71,2)*100&\"% share of gross revenue).\"","v":"Maximum Breakeven Land Rental (before profit) is calculated at $101.15 per acre (47% of margin over operating costs or 17% share of gross revenue)."}]
[]
[]
["#2 - Flexible Land Rental Breakeven Calculation"]
[]
[null,{"$f":"\"Flexible Land Rental Breakeven (before profit) is calculated at \"&ROUND('Flexible Land Rent'!O81,1)&\" bu/acre \"&'Flexible Land Rent'!F7&\" or \"&ROUND('Flexible Land Rent'!O82*100,1)&\"% of the \"&'Flexible Land Rent'!E9&\" bu/acre probable yield.\"","v":"Flexible Land Rental Breakeven (before profit) is calculated at 60.8 bu/acre Wheat - Hard Red Spring or 101.4% of the 60 bu/acre probable yield."}]
[]
[]
["#3 - Estimated Land Value Calculation - Based on Land Rental Rate"]
[]
[null,null,"Land Rental Payment ",null,null,null,{"$f":"'Land Rent '!G43","v":71},"/acre    to   ",{"$f":"'Land Rent '!I43","v":86},"/acre"]
[null,"-","Property taxes (area average value) ",null,null,null,null,{"$f":"'Land Rent '!H77","v":0},"/acre"]
[null,"÷","Investment Rate of Return ",null,null,null,{"$f":"'Land Rent '!G76","v":2.25},"%           to",{"$f":"'Land Rent '!I76","v":2.75},"%"]
[]
[null,"=","Estimated Land Market Value",null,null,null,{"$f":"\"$\"&TEXT((G21-H22)/(I23/100),\"#,###\")&\"  to  $\"&TEXT((I21-H22)/(G23/100),\"#,###\")&\"/acre   (Avg. $\"&TEXT((((G21-H22)/(I23/100))+((I21-H22)/(G23/100)))/2,\"#,###\")&\"/acre) \"","v":"$2,582  to  $3,822/acre   (Avg. $3,202/acre) "}]
[]
["Crop Land Rental Rate - Further Considerations "]
[]
["#4 - Producer Discount (or Landowner Premium) for Early Land Rental Payment"]
[]
[null,null,"Operating interest rate",null,null,9,"%"]
[]
[null,null,"100% payment in spring",null,null,{"$f":"ROUND('Land Rent '!I43*('Further Considerations'!F31/100*(6/12)),1)","v":3.9},"/ acre"]
[null,null,"50% payment in spring",null,null,{"$f":"ROUND('Land Rent '!I43/2*('Further Considerations'!F31/100*(6/12)),1)","v":1.9},"/ acre"]
[]
["#5 - Soil Test (Nutrient Bank) Level Comparison"]
[null,null,null,null,null,null,null,"Land Rental  Term"]
[null,null,null,null,null,null,null,"Start","End"]
[null,null,"Nitrogen Soil Test Level (lbs./ac)",null,null,null,null,40,20]
[null,null,"Phosphorus Soil Test Level (P2O5 lbs./ac)",null,null,null,null,35,20]
[null,null,"Land Rental Term (Number of Years)",null,null,null,null,3]
[]
[null,null,null,null,null,"Bulk Price",null,"Actual Nutrient"]
[null,null,"Fertilizer Type",null,null,"$/tonne",null,"$/lb."]
[null,null,"Phosphorus:   11-52-0",null,null,1075,null,{"$f":"SUM((F45-(H46*(0.11*2204.5855)))/(2204.5855*0.52))","v":0.76563964527602513}]
[null,null,"Nitrogen: (urea) 46-0-0",null,null,825,null,{"$f":"SUM(F46/(2204.5855*0.46))","v":0.81352175312300889}]
[]
[null,"=","Change in Soil Nutrient Bank Account Balance ",null,null,null,null,{"$f":"ROUND(SUM(I40-H40)*H45,1)+ROUND(SUM(I39-H39)*H46,1)","v":-27.8},"/acre"]
[null,"=","Change in Soil Nutrient Bank Account Balance ",null,null,null,null,{"$f":"ROUND(H48/H41,1)","v":-9.3000000000000007},"per acre each year"]
[]
["#5 - Total Land Owner Return on Asset - Annual Land Value Appreciation (non-cash consideration)"]
[]
[null,null,"Land market value",null,null,null,{"$f":"'Land Rent '!H75","v":4150},"/acre"]
[null,"x","Avg. Annual Land Appreciation Rate ",null,null,null,6.3,"%","(FCC Historical Land Values)"]
[null,null,"Annual Land Appreciation (Non-Payable)",null,null,null,{"$f":"ROUND(SUM(G53*(G54/100)),0)","v":261},"/acre"]
[null,"+","Cash Land Rental (Payable)",null,null,null,{"$f":"('Land Rent '!$G$43+'Land Rent '!$I$43)/2","v":78.5},"/acre"]
[null,"=","Total Landowner Return on Asset (ROA)",null,null,null,{"$f":"SUM(G55:G56)","v":339.5},"/acre ",{"$f":"\"(or \"&ROUND((G57/G53)*100,1)&\"% ROA)\"","v":"(or 8.2% ROA)"}]
[]
["#7 - Local Area Land Rental Rate Comparison"]
[null,null,null,null,null,null,"Low Rent",null,"High Rent"]
["???? HIDE?????",null,null,null,null,null,"Per Acre",null,"Per Acre"]
[null,"=","Your Local Area Land Rental Rate",null,null,null,"(enter $)",null,"(enter $)"]
[null,null,"Land Rent Share (margin over operating)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM(G62/'Land Rent '!C25)*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM(I62/'Land Rent '!C25)*100)","v":"-"},"%"]
[null,null,"Land Rent Share (gross revenue)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM(G62/'Land Rent '!C22)*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM(I62/'Land Rent '!C22)*100)","v":"-"},"%"]
[]
[null,null,"Gross revenue",null,null,null,null,{"$f":"'Land Rent '!C22","v":587.35}]
[null,"-","Operating Costs",null,null,null,null,{"$f":"'Land Rent '!C18","v":370.05604820361634}]
[null,"-","Labour /Owner Salary Costs",null,null,null,null,{"$f":"'Land Rent '!C19","v":27}]
[null,"-","Equipment Costs",null,null,null,null,{"$f":"'Land Rent '!C20","v":89.14599750353068}]
[null,"-","Storage Costs",null,null,null,null,{"$f":"'Land Rent '!#REF!","v":{"$error":"#REF!"}}]
[null,"-","Land Rental Rate Payable",null,null,null,{"$f":"G62","v":"(enter $)"},null,{"$f":"I62","v":"(enter $)"}]
[null,"=","Producer Profit Margin",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",ROUND(SUM(H66-H67-H68-H69-H70-G71),0))","v":"-"},null,{"$f":"IF(I62=\"(enter $)\",\"-\",ROUND(SUM(H66-H67-H68-H69-H70-I71),0))","v":"-"}]
[null,null,"Producer Profit Share (margin over operating)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM(G72/'Land Rent '!C25)*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM(I72/'Land Rent '!C25)*100)","v":"-"},"%"]
[null,null,"Producer Profit Share (gross revenue)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM(G72/'Land Rent '!C22)*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM(I72/'Land Rent '!C22)*100)","v":"-"},"%"]
[]
[null,null,"Producer Return on Investment (ROI)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM((H66-(H67+H68+H69+H70+G62))/(H67+H68+H69+H70+G62))*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM((H66-(H67+H68+H69+H70+I62))/(H67+H68+H69+H70+I62))*100)","v":"-"},"%"]
[null,null,"Landowner Return on Asset (ROA)",null,null,null,{"$f":"IF(G62=\"(enter $)\",\"-\",SUM((G62-'Land Rent '!H77)/('Land Rent '!H75*(1-('Land Rent '!#REF!/100))))*100)","v":"-"},"%",{"$f":"IF(I62=\"(enter $)\",\"-\",SUM((I62-'Land Rent '!H77)/('Land Rent '!H75*(1-('Land Rent '!#REF!/100))))*100)","v":"-"},"%"]
[]
["Note: This budget is only a guide and is not intended as an in-depth study of agricultural land values. Interpretation and use of this information is the responsibility of the user. If you need help with a budget, contact a Farm Management Specialist."]
[]
[null,null,null,null,null,null,null,null,null,null,"January, 2024"]

{"sheet":"Production Costs","index":6,"n_rows":51,"n_cols":43,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"HIDE"]
[]
[{"$f":"IF(B30=\"Manitoba\",\"Crop Production Costs \"&Intro!J19&\" Guidelines - Manitoba (Dollars Per Acre)\",\"Crop Production Costs \"&Intro!J19&\" Guidelines - \"&B30&\" (Dollars Per Acre)\")","v":"Crop Production Costs 2024 Guidelines - Manitoba (Dollars Per Acre)"}]
[]
[null,null,"Wheat - Hard Red Spring","Wheat - Northern Hard Red","Wheat - Prairie Spring","Wheat - Winter","Oats","Barley","Hybrid Fall Rye","Corn",null,null,"Canola","Soybeans","Sunflower","Flaxseed","Peas","Beans - Pinto","Beans - White","Beans - Black","Other Crop","Other Crop",null,null,null,"REDO MACRO"]
["A.  Operating Costs",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,{"$f":"Z6+1","v":2},{"$f":"AA6+1","v":3},4,5,6,7,8,9,10,11,12,13,14,15,16]
[null,"Seed & Treatment",36,36,36,34,25,24,82.4,102,null,"Seed & Treatment",80,90,50,64,88,116,112,118,0,0,null,null,null,36,36,36,34,25,24,82.4,102,null,"Seed & Treatment",80,90,50,64,88,116,112,118]
[null,"Fertilizer",124.43675035512648,136.28549950962261,128.3863334066252,124.43675035512648,91.207482731609261,93.082905950694425,152.08383171561741,176.99969386610155,null,"Fertilizer",142.09682306549493,42.233953714494398,116.13560632890359,62.464868801306572,28.131738532718302,78.26320100730139,86.162367110298788,86.162367110298788,0,0,null,null,null,124.43675035512648,136.28549950962261,128.3863334066252,124.43675035512648,91.207482731609261,93.082905950694425,152.08383171561741,176.99969386610155,null,"Fertilizer",142.09682306549493,42.233953714494398,116.13560632890359,62.464868801306572,28.131738532718302,78.26320100730139,86.162367110298788,86.162367110298788]
[null,"Crop Protection",61.81,61.81,61.81,41.54,23.130000000000003,50.129999999999995,8.3800000000000008,32,null,"Crop Protection",66.760000000000005,23.58,47.52,32.26,46,129.78,129.78,129.78,0,0,null,null,null,61.81,61.81,61.81,41.54,23.130000000000003,50.129999999999995,8.3800000000000008,32,null,"Crop Protection",66.760000000000005,23.58,47.52,32.26,46,129.78,129.78,129.78]
[null,"Fuel",38.143362526315784,38.826698105263155,38.280029642105255,38.143362526315784,44.976718315789476,41.740035031578948,38.793369263157892,46.59006063157895,null,"Fuel",37.930020210526308,33.053350399999999,39.073369263157893,36.316677894736834,33.153355789473686,32.607792000000003,32.152234947368427,32.152234947368427,0,0,null,null,null,38.143362526315784,38.826698105263155,38.280029642105255,38.143362526315784,44.976718315789476,41.740035031578948,38.793369263157892,46.59006063157895,null,"Fuel",37.930020210526308,33.053350399999999,39.073369263157893,36.316677894736834,33.153355789473686,32.607792000000003,32.152234947368427,32.152234947368427]
[null,"Machinery Operating & Lease",25,25,25,25,25,25,25,25,null,"Machinery Operating & Lease",25,25,38,25,25,50,50,50,0,0,null,null,null,25,25,25,25,25,25,25,25,null,"Machinery Operating & Lease",25,25,38,25,25,50,50,50]
[null,"Labour - Hired",5.4,5.4,5.4,5.4,5.4,5.4,5.4,5.4,null,"Labour - Hired",5.4,5.4,5.4,5.4,5.4,5.4,5.4,5.4,0,0,null,null,null,5.4,5.4,5.4,5.4,5.4,5.4,5.4,5.4,null,"Labour - Hired",5.4,5.4,5.4,5.4,5.4,5.4,5.4,5.4]
[null,"Crop Insurance",13.5175,16.407499999999999,12.445,13.977499999999999,21.015000000000001,18.954999999999998,18.497499999999999,50.695000000000007,null,"Crop Insurance",17.495000000000001,25.945,27.3475,21.695,19.657499999999999,39.0075,40.815000000000005,46.855000000000004,0,0,null,null,null,13.5175,16.407499999999999,12.445,13.977499999999999,21.015000000000001,18.954999999999998,18.497499999999999,50.695000000000007,null,"Crop Insurance",17.495000000000001,25.945,27.3475,21.695,19.657499999999999,39.0075,40.815000000000005,46.855000000000004]
[null,"Hail Insurance",11.8,11.8,11.8,11.8,11.8,11.8,11.8,11.8,null,"Hail Insurance",11.8,15.34,11.8,11.8,23.6,20.65,20.65,20.65,0,0,null,null,null,11.8,11.8,11.8,11.8,11.8,11.8,11.8,11.8,null,"Hail Insurance",11.8,15.34,11.8,11.8,23.6,20.65,20.65,20.65]
[null,"Drying & Other Costs",17.75,17.75,17.75,17.75,17.75,17.75,17.75,87.75,null,"Drying  & Other Costs",17.75,17.75,27.75,17.75,17.75,17.75,17.75,17.75,0,0,null,null,null,17.75,17.75,17.75,17.75,17.75,17.75,17.75,87.75,null,"Drying  & Other Costs",17.75,17.75,27.75,17.75,17.75,17.75,17.75,17.75]
[null,"Storage Costs",17.875062648462933,19.250067467575469,18.15006361228544,17.875062648462933,31.62511083958827,21.450075178155522,22.000077105800532,37.125130116038406,null,"Storage Costs",12.375043372012801,10.450036625255253,22.000077105800532,6.8750240955626669,13.750048191125334,8.7083638543793782,7.7916939749710235,7.7916939749710235,0,0,null,null,null,17.875062648462933,19.250067467575469,18.15006361228544,17.875062648462933,31.62511083958827,21.450075178155522,22.000077105800532,37.125130116038406,null,"Storage Costs",12.375043372012801,10.450036625255253,22.000077105800532,6.8750240955626669,13.750048191125334,8.7083638543793782,7.7916939749710235,7.7916939749710235]
[null,"Interest on Operating",{"$f":"(SUM(C7:C16)/2)*('Further Considerations'!$F$31/100)","v":15.827970398845732},{"$f":"(SUM(D7:D16)/2)*('Further Considerations'!$F$31/100)","v":16.583839428710753},{"$f":"(SUM(E7:E16)/2)*('Further Considerations'!$F$31/100)","v":15.975964199745714},{"$f":"(SUM(F7:F16)/2)*('Further Considerations'!$F$31/100)","v":14.846520398845733},{"$f":"(SUM(G7:G16)/2)*('Further Considerations'!$F$31/100)","v":13.360694034914417},{"$f":"(SUM(H7:H16)/2)*('Further Considerations'!$F$31/100)","v":13.9188607272193},{"$f":"(SUM(I7:I16)/2)*('Further Considerations'!$F$31/100)","v":17.194715013805911},{"$f":"(SUM(J7:J16)/2)*('Further Considerations'!$F$31/100)","v":25.891194807617346},null,null,{"$f":"(SUM(M7:M16)/2)*('Further Considerations'!$F$31/100)","v":18.747309899161532},{"$f":"(SUM(N7:N16)/2)*('Further Considerations'!$F$31/100)","v":12.993855333288735},{"$f":"(SUM(O7:O16)/2)*('Further Considerations'!$F$31/100)","v":17.326194871403789},{"$f":"(SUM(P7:P16)/2)*('Further Considerations'!$F$31/100)","v":12.760270685622272},{"$f":"(SUM(Q7:Q16)/2)*('Further Considerations'!$F$31/100)","v":13.51991891309928},{"$f":"(SUM(R7:R16)/2)*('Further Considerations'!$F$31/100)","v":22.417508558775634},{"$f":"(SUM(S7:S16)/2)*('Further Considerations'!$F$31/100)","v":22.612558321468715},{"$f":"(SUM(T7:T16)/2)*('Further Considerations'!$F$31/100)","v":23.15435832146872},{"$f":"(SUM(U7:U16)/2)*('Further Considerations'!$F$31/100)","v":0},{"$f":"(SUM(V7:V16)/2)*('Further Considerations'!$F$31/100)","v":0}]
[null,"Total Operating",{"$f":"SUM(C7:C17)","v":367.56064592875089},385.11360451117196,370.99739086076158,344.76919592875089,310.26500592190143,323.22687688764819,399.29949309838173,601.25107942133616,null,null,{"$f":"SUM(M7:M17)","v":435.35419654719556},301.74619607303839,{"$f":"SUM(O7:O17)","v":402.35274756926583},{"$f":"SUM(P7:P17)","v":296.32184147722836},313.96256142641664,520.58436542045638,525.11385435410682,537.69565435410698,0,0]
[null,null,null,"","",null,"","",null,"",null,null,null,"","","","","",""]
["B.   Fixed Costs",null,"","","",null,"","",null,"",null,null,"","","","","","",""]
[null,"Machinery Costs",89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,109.03241233124137,null,"Machinery Costs",89.14599750353068,89.14599750353068,109.03241233124137,89.14599750353068,89.14599750353068,109.03241233124137,109.03241233124137,109.03241233124137,{"$f":"IF(U5=\"Other Crop\",0,$C$21)","v":0},{"$f":"IF(V5=\"Other Crop\",0,$C$21)","v":0},null,null,null,89.15]
[]
["C. Owners Labour & Living Costs",null,27,{"$f":"$C$23","v":27},27,27,27,27,27,27,null,null,{"$f":"$C$23","v":27},27,27,27,27,27,27,27,{"$f":"IF(U5=\"Other Crop\",0,$C$23)","v":0},{"$f":"IF(V5=\"Other Crop\",0,$C$23)","v":0},null,null,null,27]
[]
["Total Costs",null,{"$f":"SUM(C23+C21+C18)","v":483.70664343228157},501.25960201470264,487.14338836429226,460.91519343228157,426.41100342543211,439.37287439117887,515.44549060191241,737.28349175257756,null,null,{"$f":"SUM(C23+C21+M18)","v":551.50019405072624},{"$f":"SUM(N23+N21+N18)","v":417.89219357656907},{"$f":"SUM(O23+O21+O18)","v":538.38515990050723},{"$f":"SUM(P23+P21+P18)","v":412.46783898075904},430.10855892994732,656.61677775169778,661.14626668534822,673.72806668534838,0,0]
[]
[]
[]
["****HIDE*****"]
[null,"Manitoba","Manitoba","Risk Area #4","Risk Area #32","Risk Area #15","Risk Area #3","Risk Area #2","Risk Area #7","Risk Area #5",null,null,null,"Risk Area #1","Risk Area #12","Risk Area #11","Risk Area #6","Risk Area #9","Risk Area #10"]
[]
["A.  Operating Costs"]
[null,"Seed & Treatment",29,50.49,40,25.2,19.38,18,82.5,96,null,null,67.5,93.38,49.5,27,27,12,78.099999999999994,83.75,0,0]
[null,"Fertilizer",76.897463428028317,18.818332096250558,72.578350836405377,38.440741341497251,57.421733078362664,62.533802360351764,47.741225064562066,112.21409206794027,null,null,88.159027619606334,23.881509440862292,72.578350836405377,83.872826220326942,83.872826220326942,93.173309943391757,52.391466926094481,52.391466926094481,0,0]
[null,"Pesticide",47.230000000000004,34.25,28.59,35.129999999999995,19.630000000000003,51.5,96.22999999999999,27.45,null,null,30.91,10.47,72.319999999999993,47.230000000000004,47.230000000000004,7.5,100.38999999999999,96.22999999999999,0,0]
[null,"Fuel",21.63656425263158,17.92691730526316,21.359305347368423,19.669411578947368,25.787410947368421,23.298117052631579,17.502587999999999,26.586822526315792,null,null,20.818940842105263,18.710129136842102,21.027399494736841,22.383352421052631,22.383352421052631,18.807281810526316,17.295146842105265,17.225999789473686,0,0]
[null,"Machinery Operating & Lease",12.879999999999999,12.879999999999999,21.38,12.879999999999999,12.879999999999999,12.879999999999999,12.879999999999999,12.879999999999999,null,null,12.879999999999999,12.879999999999999,29.88,12.879999999999999,12.879999999999999,12.879999999999999,12.879999999999999,12.879999999999999,0,0]
[null,"Labour - Hired",4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,null,null,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,4.8000000000000007,0,0]
[null,"Crop Insurance",6.6350000000000007,8.4674999999999994,13.86,10.32,11.114999999999998,8.2974999999999994,22.655000000000001,21.287500000000001,null,null,7.7725,12.157499999999999,26.27,6.6575000000000006,8.7824999999999989,11.675000000000001,19.3825,26.729999999999997,0,0]
[null,"Hail Insurance",6.35,12.7,6.35,6.35,6.35,6.35,11.112499999999999,6.35,null,null,6.35,8.254999999999999,6.35,6.35,6.35,6.35,11.112499999999999,11.112499999999999,0,0]
[null,"Drying & Other Costs",7.75,7.75,17.75,7.75,7.75,7.75,7.75,42.75,null,null,7.75,7.75,17.75,7.75,7.75,7.75,7.75,7.75,0,0]
[null,"Storage Costs",6.9279793295665595,5.2243778550829791,8.1772870775211839,2.8393357908059671,12.493077479546253,9.085874530579094,3.5964920016875581,15.332413270352221,null,null,5.110804423450741,4.2022169703928309,7.7229933509922297,7.9501402142567077,7.9501402142567077,8.2908605091534238,3.312558422606962,3.2179138962467624,0,0]
[null,"Interest on Operating",{"$f":"C17","v":15.827970398845732},16.583839428710753,15.975964199745714,14.846520398845733,13.360694034914417,13.9188607272193,17.194715013805911,25.891194807617346,null,null,{"$f":"M17","v":18.747309899161532},{"$f":"N17","v":12.993855333288735},{"$f":"O17","v":17.326194871403789},{"$f":"P17","v":12.760270685622272},13.51991891309928,22.417508558775634,22.612558321468715,23.15435832146872,0,0]
[null,"Total Operating",{"$f":"SUM(C33:C43)","v":235.93497740907219},189.89096668530746,250.82090746104069,178.2260091100963,190.96791554019177,218.41415467078176,323.96252008005558,391.5420226722257,null,null,{"$f":"SUM(M33:M43)","v":270.79858278432386},209.48021088138597,{"$f":"SUM(O33:O43)","v":325.52493855353828},{"$f":"SUM(P33:P43)","v":239.63408954125856},242.51873776873558,205.64396082184714,330.02673051227544,339.24223893328372,0,0]
[]
["B.   Fixed Costs",null,"","","",null,"","",null,"",null,null,"","","","","","",""]
[null,"Machinery Costs",{"$f":"$C$21","v":89.14599750353068},89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,null,null,67.31,{"$f":"$C$21","v":89.14599750353068},89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,89.14599750353068,{"$f":"IF(U28=\"Other Crop\",0,$C$21)","v":89.14599750353068},{"$f":"IF(V28=\"Other Crop\",0,$C$21)","v":89.14599750353068}]
[]
["C. Owners Labour & Living Costs",null,{"$f":"$C$23","v":27},27,27,27,27,27,27,27,null,null,24,{"$f":"$C$23","v":27},27,27,27,27,27,27,{"$f":"IF(U29=\"Other Crop\",0,$C$23)","v":27},{"$f":"IF(V29=\"Other Crop\",0,$C$23)","v":27}]
[]
["Total Costs",null,{"$f":"SUM(C49+C47+C44)","v":352.08097491260287},306.03696418883817,366.96690496457137,294.37200661362698,307.11391304372245,334.56015217431241,440.10851758358626,507.68802017575638,null,null,{"$f":"SUM(M49+M47+M44)","v":362.10858278432386},{"$f":"SUM(N49+N47+N44)","v":325.62620838491665},{"$f":"SUM(O49+O47+O44)","v":441.67093605706896},{"$f":"SUM(P49+P47+P44)","v":355.78008704478924},358.66473527226628,321.78995832537782,446.17272801580611,455.3882364368144,116.14599750353068,116.14599750353068]

{"sheet":"Staff Cheat Sheet (HIDE)","index":7,"n_rows":43,"n_cols":11,"rows_kept":43,"cut":false,"hidden":true,"merged":[[38,8,38,10],[23,8,23,10],[27,8,27,10],[30,8,30,10],[32,8,32,10],[36,8,36,10],[38,0,38,2],[23,4,23,6],[27,4,27,6],[30,4,30,6],[32,4,32,6],[36,4,36,6],[38,4,38,6],[23,0,23,2],[27,0,27,2],[30,0,30,2],[32,0,32,2],[36,0,36,2],[16,4,16,6],[1,8,1,10],[5,8,5,10],[8,8,8,10],[10,8,10,10],[14,8,14,10],[16,8,16,10],[1,4,1,6],[5,4,5,6],[8,4,8,6],[10,4,10,6],[14,4,14,6],[1,0,1,2],[16,0,16,2],[5,0,5,2],[8,0,8,2],[10,0,10,2],[14,0,14,2]]}
[]
[{"$f":"\"$\"&ROUND((((A3*C3)+(C4*A4)+(A5*C5))/3),0)&\" Gross Revenue\"","v":"$297 Gross Revenue"},null,null,null,{"$f":"\"$\"&ROUND((((E3*G3)+(G4*E4)+(E5*G5))/3),0)&\" Gross Revenue\"","v":"$350 Gross Revenue"},null,null,null,{"$f":"\"$\"&ROUND((((I3*K3)+(K4*I4)+(I5*K5))/3),0)&\" Gross Revenue\"","v":"$398 Gross Revenue"}]
[30,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25},null,35,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25},null,40,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25}]
[30,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75},null,35,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75},null,39,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75}]
[40,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75},null,48,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75},null,55,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75}]
["Gross Revenue Share",null,null,null,"Gross Revenue Share",null,null,null,"Gross Revenue Share"]
[null,"Avg.",null,null,null,"Avg.",null,null,null,"Avg."]
[0.15,{"$f":"AVERAGE(A8,C8)","v":0.16999999999999998},0.19,null,{"$f":"$A$8","v":0.15},{"$f":"AVERAGE(E8,G8)","v":0.16999999999999998},{"$f":"$C$8","v":0.19},null,{"$f":"$A$8","v":0.15},{"$f":"AVERAGE(I8,K8)","v":0.16999999999999998},{"$f":"$C$8","v":0.19}]
["Fair Mkt Land Rent",null,null,null,"Fair Mkt Land Rent",null,null,null,"Fair Mkt Land Rent"]
[{"$f":"ROUND(((((A3*C3)+(C4*A4)+(A5*C5))/3)*A8),0)","v":45},{"$f":"ROUND(((((A3*C3)+(C4*A4)+(A5*C5))/3)*B8),0)","v":50},{"$f":"ROUND(((((A3*C3)+(C4*A4)+(A5*C5))/3)*C8),0)","v":56},null,{"$f":"ROUND(((((E3*G3)+(G4*E4)+(E5*G5))/3)*E8),0)","v":53},{"$f":"ROUND(((((E3*G3)+(G4*E4)+(E5*G5))/3)*F8),0)","v":60},{"$f":"ROUND(((((E3*G3)+(G4*E4)+(E5*G5))/3)*G8),0)","v":67},null,{"$f":"ROUND(((((I3*K3)+(K4*I4)+(I5*K5))/3)*I8),0)","v":60},{"$f":"ROUND(((((I3*K3)+(K4*I4)+(I5*K5))/3)*J8),0)","v":68},{"$f":"ROUND(((((I3*K3)+(K4*I4)+(I5*K5))/3)*K8),0)","v":76}]
["Investment Rate of Return",null,null,null,"Investment Rate of Return",null,null,null,"Investment Rate of Return"]
[null,"Avg.",null,null,null,"Avg.",null,null,null,"Avg."]
[{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2},null,{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2},null,{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2}]
[{"$f":"'Land Rent '!$H$77","v":0},"Taxes",null,null,{"$f":"'Land Rent '!$H$77","v":0},"Taxes",null,null,{"$f":"'Land Rent '!$H$77","v":0},"Taxes"]
["Land Value",null,null,null,"Land Value",null,null,null,"Land Value"]
[{"$f":"SUM(A10-A14)/B13","v":1800},{"$f":"AVERAGE(A16,C16)","v":2020},{"$f":"SUM(C10-A14)/B13","v":2240},null,{"$f":"SUM(E10-E14)/F13","v":2120},{"$f":"AVERAGE(E16,G16)","v":2400},{"$f":"SUM(G10-E14)/F13","v":2680},null,{"$f":"SUM(I10-I14)/J13","v":2400},{"$f":"AVERAGE(I16,K16)","v":2720},{"$f":"SUM(K10-I14)/J13","v":3040}]
["Land Value",null,null,null,"Land Value",null,null,null,"Land Value"]
["x5",{"$f":"SUM(ROUND((((A3*C3)+(C4*A4)+(A5*C5))/3),0)*5)","v":1485},null,null,"x5",{"$f":"SUM(ROUND((((E3*G3)+(G4*E4)+(E5*G5))/3),0)*5)","v":1750},null,null,"x5",{"$f":"SUM(ROUND((((I3*K3)+(K4*I4)+(I5*K5))/3),0)*5)","v":1990}]
["x6",{"$f":"SUM(ROUND((((A3*C3)+(C4*A4)+(A5*C5))/3),0)*6)","v":1782},null,null,"x6",{"$f":"SUM(ROUND((((E3*G3)+(G4*E4)+(E5*G5))/3),0)*6)","v":2100},null,null,"x6",{"$f":"SUM(ROUND((((I3*K3)+(K4*I4)+(I5*K5))/3),0)*6)","v":2388}]
["x8",{"$f":"SUM(ROUND((((A3*C3)+(C4*A4)+(A5*C5))/3),0)*8)","v":2376},null,null,"x8",{"$f":"SUM(ROUND((((E3*G3)+(G4*E4)+(E5*G5))/3),0)*8)","v":2800},null,null,"x8",{"$f":"SUM(ROUND((((I3*K3)+(K4*I4)+(I5*K5))/3),0)*8)","v":3184}]
["x10",{"$f":"SUM(ROUND((((A3*C3)+(C4*A4)+(A5*C5))/3),0)*10)","v":2970},null,null,"x10",{"$f":"SUM(ROUND((((E3*G3)+(G4*E4)+(E5*G5))/3),0)*10)","v":3500},null,null,"x10",{"$f":"SUM(ROUND((((I3*K3)+(K4*I4)+(I5*K5))/3),0)*10)","v":3980}]
[]
[]
[{"$f":"\"$\"&ROUND((((A25*C25)+(C26*A26)+(A27*C27))/3),0)&\" Gross Revenue\"","v":"$448 Gross Revenue"},null,null,null,{"$f":"\"$\"&ROUND((((E25*G25)+(G26*E26)+(E27*G27))/3),0)&\" Gross Revenue\"","v":"$502 Gross Revenue"},null,null,null,{"$f":"\"$\"&ROUND((((I25*K25)+(K26*I26)+(I27*K27))/3),0)&\" Gross Revenue\"","v":"$534 Gross Revenue"}]
[45,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25},null,52,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25},null,55,"canola",{"$f":"'Data (HIDE)'!$B$50","v":9.25}]
[44,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75},null,46,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75},null,50,"soybeans",{"$f":"'Data (HIDE)'!$B$51","v":8.75}]
[62,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75},null,71,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75},null,75,"rs wheat",{"$f":"'Data (HIDE)'!$B$52","v":8.75}]
["Gross Revenue Share",null,null,null,"Gross Revenue Share",null,null,null,"Gross Revenue Share"]
[null,"Avg.",null,null,null,"Avg.",null,null,null,"Avg."]
[{"$f":"$A$8","v":0.15},{"$f":"AVERAGE(A30,C30)","v":0.16999999999999998},{"$f":"$C$8","v":0.19},null,{"$f":"$A$8","v":0.15},{"$f":"AVERAGE(E30,G30)","v":0.16999999999999998},{"$f":"$C$8","v":0.19},null,{"$f":"$A$8","v":0.15},{"$f":"AVERAGE(I30,K30)","v":0.16999999999999998},{"$f":"$C$8","v":0.19}]
["Fair Mkt Land Rent",null,null,null,"Fair Mkt Land Rent",null,null,null,"Fair Mkt Land Rent"]
[{"$f":"ROUND(((((A25*C25)+(C26*A26)+(A27*C27))/3)*A30),0)","v":67},{"$f":"ROUND(((((A25*C25)+(C26*A26)+(A27*C27))/3)*B30),0)","v":76},{"$f":"ROUND(((((A25*C25)+(C26*A26)+(A27*C27))/3)*C30),0)","v":85},null,{"$f":"ROUND(((((E25*G25)+(G26*E26)+(E27*G27))/3)*E30),0)","v":75},{"$f":"ROUND(((((E25*G25)+(G26*E26)+(E27*G27))/3)*F30),0)","v":85},{"$f":"ROUND(((((E25*G25)+(G26*E26)+(E27*G27))/3)*G30),0)","v":95},null,{"$f":"ROUND(((((I25*K25)+(K26*I26)+(I27*K27))/3)*I30),0)","v":80},{"$f":"ROUND(((((I25*K25)+(K26*I26)+(I27*K27))/3)*J30),0)","v":91},{"$f":"ROUND(((((I25*K25)+(K26*I26)+(I27*K27))/3)*K30),0)","v":101}]
["Investment Rate of Return",null,null,null,"Investment Rate of Return",null,null,null,"Investment Rate of Return"]
[null,"Avg.",null,null,null,"Avg.",null,null,null,"Avg."]
[{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2},null,{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2},null,{"$f":"'Land Rent '!$G$76/100","v":2.2499999999999999E-2},{"$f":"AVERAGE($A$13,$C$13)","v":2.5000000000000001E-2},{"$f":"'Land Rent '!$I$76/100","v":2.75E-2}]
[{"$f":"'Land Rent '!$H$77","v":0},"Taxes",null,null,{"$f":"'Land Rent '!$H$77","v":0},"Taxes",null,null,{"$f":"'Land Rent '!$H$77","v":0},"Taxes"]
["Land Value",null,null,null,"Land Value",null,null,null,"Land Value"]
[{"$f":"SUM(A32-A36)/B35","v":2680},{"$f":"AVERAGE(A38,C38)","v":3040},{"$f":"SUM(C32-A36)/B35","v":3400},null,{"$f":"SUM(E32-E36)/F35","v":3000},{"$f":"AVERAGE(E38,G38)","v":3400},{"$f":"SUM(G32-E36)/F35","v":3800},null,{"$f":"SUM(I32-I36)/J35","v":3200},{"$f":"AVERAGE(I38,K38)","v":3620},{"$f":"SUM(K32-I36)/J35","v":4040}]
["Land Value",null,null,null,"Land Value",null,null,null,"Land Value"]
["x5",{"$f":"SUM(ROUND((((A25*C25)+(C26*A26)+(A27*C27))/3),0)*5)","v":2240},null,null,"x5",{"$f":"SUM(ROUND((((E25*G25)+(G26*E26)+(E27*G27))/3),0)*5)","v":2510},null,null,"x5",{"$f":"SUM(ROUND((((I25*K25)+(K26*I26)+(I27*K27))/3),0)*5)","v":2670}]
["x6",{"$f":"SUM(ROUND((((A25*C25)+(C26*A26)+(A27*C27))/3),0)*6)","v":2688},null,null,"x6",{"$f":"SUM(ROUND((((E25*G25)+(G26*E26)+(E27*G27))/3),0)*6)","v":3012},null,null,"x6",{"$f":"SUM(ROUND((((I25*K25)+(K26*I26)+(I27*K27))/3),0)*6)","v":3204}]
["x8",{"$f":"SUM(ROUND((((A25*C25)+(C26*A26)+(A27*C27))/3),0)*8)","v":3584},null,null,"x8",{"$f":"SUM(ROUND((((E25*G25)+(G26*E26)+(E27*G27))/3),0)*8)","v":4016},null,null,"x8",{"$f":"SUM(ROUND((((I25*K25)+(K26*I26)+(I27*K27))/3),0)*8)","v":4272}]
["x10",{"$f":"SUM(ROUND((((A25*C25)+(C26*A26)+(A27*C27))/3),0)*10)","v":4480},null,null,"x10",{"$f":"SUM(ROUND((((E25*G25)+(G26*E26)+(E27*G27))/3),0)*10)","v":5020},null,null,"x10",{"$f":"SUM(ROUND((((I25*K25)+(K26*I26)+(I27*K27))/3),0)*10)","v":5340}]

{"sheet":"Data (HIDE)","index":8,"n_rows":107,"n_cols":17,"rows_kept":107,"cut":false,"hidden":true,"merged":[[1,10,1,11]]}
[null,null,null,null,null,null,null,null,null,null,null,null,null,"MPP"]
["2023 MASC DATA","RENTPLAN",null,null,null,null,null,null,2023,2024,"Manitoba MPP",null,null,"2,5,6,12"]
["Expected Yield/Acre 'D'","Manitoba","Risk Area #2","Risk Area #5","Risk Area #6","Risk Area #12","Avg.",null,"COP Yields","COP Yields","2018-22\n5 year","2013-22\n10 year","Median 5&10","2018-22\n5 year",null,0.9,0.95]
["Wheat - Hard Red Spring",60,61.4,67.5,60.9,69.599999999999994,{"$f":"AVERAGE(C4:F4)","v":64.849999999999994},null,64,65,59.7,58,{"$f":"AVERAGE(K4:L4)","v":58.85},61.4,null,{"$f":"ROUND(J4*$P$3,0)","v":59},{"$f":"ROUND(J4*$Q$3,0)","v":62}]
["Wheat - Northern Hard Red",67,67.400000000000006,74.099999999999994,66.900000000000006,74.7,{"$f":"AVERAGE(C5:F5)","v":70.775000000000006},null,70,70,67.3,69.3,{"$f":"AVERAGE(K5:L5)","v":68.3},69.2,null,63,67]
["Wheat - Prairie Spring",65,62.2,68.599999999999994,61.8,69.099999999999994,65.425000000000011,null,70,66,65,66.5,65.75,66.900000000000006,null,59,63]
["Wheat - Winter",60,61.1,67.3,60.7,69.3,64.600000000000009,null,66,65,55.8,62.5,59.15,61.4,null,59,62]
["Oats",105,115.1,126.2,97.6,134.9,118.44999999999999,null,120,115,102.7,105,103.85,110.9,null,104,109]
["Barley",74,75.8,82.9,71.5,79.099999999999994,77.324999999999989,null,78,78,73.2,74,73.599999999999994,78.2,null,70,74]
["Hybrid Fall Rye",71,79.5,79.5,79.5,79.5,79.5,null,80,80,70.7,70.7,70.7,81.400000000000006,null,72,76]
["Corn",130,119.4,135.80000000000001,105.4,156.4,129.25,null,135,135,124.2,128.5,126.35,135.19999999999999,null,122,128]
["Canola",42,43.3,48.1,43.2,48.8,45.850000000000009,null,44,45,40.4,41,40.700000000000003,41.7,null,41,43]
["Soybeans",35,36.6,37.799999999999997,36.6,39,37.5,null,36,38,32.700000000000003,35.1,33.900000000000006,35.200000000000003,null,34,36]
["Sunflower",1900,2024,2024,2024,2024,2024,null,2000,2000,2000,1914,1957,1983,null,1800,1900]
["Flaxseed",24,22,27.1,22.1,26.3,24.375,null,25,25,23.8,23.8,23.8,25.4,null,23,24]
["Peas",48,48.1,48.1,48.1,48.1,48.1,null,48,50,48.1,45.3,46.7,50.9,null,45,48]
["Beans - Pinto",1850,1942,1942,1554,1942,1845,null,1900,1900,1849,1916,1882.5,1919,null,1710,1805]
["Beans - White",1675,1885,1885,1508,1885,1790.75,null,1700,1700,1518,1675,1596.5,1696,null,1530,1615]
["Beans - Black",1650,1713,1713,1371,1713,1627.5,null,1700,1700,1632,1692,1662,1685,null,1530,1615]
[]
[null,"Avg 2,5,6,12"]
["80% Crop ($/Acre)","Manitoba","Risk Area #2","Risk Area #5","Risk Area #6","Risk Area #12","Avg."]
["Canola",7.7149999999999999,5.01,5.47,6.54,13.84,7.7149999999999999]
["Soybeans",13.022499999999999,12.84,12.84,13.29,13.12,13.022499999999999]
["Wheat - Hard Red Spring",5.5049999999999999,4.6900000000000004,4.43,4.97,7.93,5.5049999999999999]
["Wheat - Northern Hard Red",7.2250000000000005,6.73,4.7,5.99,11.48,7.2250000000000005]
["Wheat - Special Purpose",7.2475000000000005,5.95,6.58,5.93,10.53,7.2475000000000005]
["Wheat - Prairie Spring",5.3449999999999998,5.31,4.07,5.19,6.81,5.3449999999999998]
["Wheat - Winter",5.4849999999999994,5.81,6.65,5.26,4.22,5.4849999999999994]
["Barley",8.0150000000000006,7.14,6.13,7.11,11.68,8.0150000000000006]
["Oats",12.025,14.33,9.67,10.18,13.92,12.025]
["Corn",22.317500000000003,21.23,21.04,23.41,23.59,22.317499999999999]
["Peas",8.0324999999999989,8,8.07,8.15,7.91,8.0324999999999989]
["Fall Rye",10.2925,11.73,9.01,9.2200000000000006,11.21,10.2925]
["Flaxseed",11.575000000000001,11.35,11.13,9.15,14.67,11.575000000000001]
["Beans - Pinto",24.09,23.88,24.09,24.72,23.67,24.09]
["Beans - White",21.4375,21.43,21.63,21.84,20.85,21.4375]
["Sunflower Oil",14.0375,13.92,14.07,14.37,13.79,14.0375]
["Sunflower Confection",28.23,28.03,28.35,28.85,27.69,28.23]
["Hempseed",30.102499999999999,30.06,30.24,30.66,29.45,30.102499999999999]
["Black Bean",27.442500000000003,27.39,27.57,27.99,26.82,27.442500000000003]
["Kidney Bean",39.659999999999997,39.479999999999997,39.92,40.4,38.840000000000003,39.660000000000004]
["Buckwheat",15.48,15.41,15.58,15.76,15.17,15.48]
["Canaryseed",19.547499999999999,19.45,19.72,19.850000000000001,19.170000000000002,19.547499999999999]
["Fababean",30.102499999999999,30.06,30.24,30.66,29.45,30.102499999999999]
["Lentil",13.86,10.43,15.01,15.3,14.7,13.86]
[]
[null,2024]
["Market Price ($/unit)","$/bu","ROW #","ROW #"]
["Wheat - Hard Red Spring",9.25,2,3]
["Wheat - Northern Hard Red",8.75,3,4]
["Wheat - Prairie Spring",8.75,4,5]
["Wheat - Winter",8,5,6]
["Oats",5,6,7]
["Barley",6.25,7,8]
["Hybrid Fall Rye",6.5,8,9]
["Corn",6.25,9,10]
["Canola",15.75,10,11]
["Soybeans",15.25,11,12]
["Sunflower",0.25,12,13]
["Flaxseed",16,13,14]
["Peas",9.5,14,15]
["Beans - Pinto",0.5,15,16]
["Beans - White",0.5,16,17]
["Beans - Black",0.5,17,18]
[]
["Base EMI premium / acre ($50)",null,null,0.54]
[]
["Hail Ins. coverage / acre ",null,300]
[null,null,null,"Cost per Acre"]
[]
[null,"Rate","Avg 2,5,6,12"]
["HAIL Ins. Costs","Factor","Manitoba","Risk Area #2","Risk Area #5","Risk Area #6","Risk Area #12"]
[null,null,null,3.3,3.8,3,2.5]
["Canola",1,{"$f":"AVERAGE(E75,F75,D75,G75)","v":9.4499999999999993},{"$f":"((D$74*$B75)/100)*$C$69","v":9.9},11.4,9,7.5]
["Soybeans",1.3,12.285,12.870000000000001,14.819999999999999,11.700000000000003,9.75]
["Wheat - Hard Red Spring",1,9.4499999999999993,9.9,11.4,9,7.5]
["Wheat - Northern Hard Red",1,9.4499999999999993,9.9,11.4,9,7.5]
["Wheat - Special Purpose",1,9.4499999999999993,9.9,11.4,9,7.5]
["Wheat - Prairie Spring",1,9.4499999999999993,9.9,11.4,9,7.5]
["Wheat - Winter",1,9.4499999999999993,9.9,11.4,9,7.5]
["Barley",1,9.4499999999999993,9.9,11.4,9,7.5]
["Oats",1,9.4499999999999993,9.9,11.4,9,7.5]
["Corn",1,9.4499999999999993,9.9,11.4,9,7.5]
["Peas",2,18.899999999999999,{"$f":"((D$74*$B85)/100)*$C$69","v":19.8},22.8,18,15]
["Fall Rye",1,9.4499999999999993,9.9,11.4,9,7.5]
["Flaxseed",1,9.4499999999999993,9.9,11.4,9,7.5]
["Beans - Pinto",1.75,16.537499999999998,17.324999999999999,19.949999999999996,15.75,13.125]
["Beans - White",1.75,16.537499999999998,17.324999999999999,19.949999999999996,15.75,13.125]
["Sunflower Oil",1,9.4499999999999993,9.9,11.4,9,7.5]
["Sunflower Confection",1,9.4499999999999993,9.9,11.4,9,7.5]
["Hempseed",2,18.899999999999999,19.8,22.8,18,15]
["Black Bean",1.75,16.537499999999998,17.324999999999999,19.949999999999996,15.75,13.125]
["Kidney Bean",1.75,16.537499999999998,17.324999999999999,19.949999999999996,15.75,13.125]
["Buckwheat",2.5,23.625,24.75,28.5,22.5,18.75]
["Canaryseed",1,9.4499999999999993,9.9,11.4,9,7.5]
["Fababean",1.75,16.537499999999998,17.324999999999999,19.949999999999996,15.75,13.125]
["Lentil",1.3,12.285,12.870000000000001,14.819999999999999,11.700000000000003,9.75]
[]
[]
[null,null,null,null,null,"Bulk Price",null,null,"Actual Nutrient",null,"Nitrogen",null,null,null,null,"Nitrogen"]
["Fertilizer Type",null,null,null,null,"$/tonne",null,null,"$/lb",null,"Usage",null,null,null,null,"Usage"]
[null,"Nitrogen: (urea) 46-0-0",null,null,null,825,null,null,{"$f":"SUM(F103/(2204.5855*0.46))","v":0.81352175312300889},null,0.5,null,null,null,null,0.5]
[null,"Nitrogen: (NH3) 82-0-0",null,null,null,1300,null,null,{"$f":"SUM(F104/(2204.5855*0.82))","v":0.71912196358840996},null,0.5,null,null,null,null,0.5]
[null,"Phosphorus:   11-52-0",null,null,null,1075,null,null,{"$f":"SUM((F105-(I103*(0.11*2204.5855)))/(2204.5855*0.52))","v":0.76563964527602513}]
[null,"Potash:   0-0-60",null,null,null,625,null,null,{"$f":"SUM(F106/(2204.5855*0.6))","v":0.4725000081270001}]
[null,"Sulphur:   20.5-0-0-24",null,null,null,600,null,null,{"$f":"SUM((F107-(I103*(0.205*2204.5855)))/(2204.5855*0.24))","v":0.439116855378897}]

{"sheet":"Chart Data (HIDE)","index":9,"n_rows":46,"n_cols":11,"rows_kept":46,"cut":false,"hidden":true,"merged":[]}
[]
[]
[null,"Producer - Total Cost (Risk) vs. Return on Investment (Reward) Analysis"]
[null,"Landowner - Return on Assest (ROA) Analysis",null,null,null,null,"Landowner Rent $/Ac (Reward)","Producer Profit $/Ac (Reward)"]
[null,null,"Operating Costs","Labour / Owner Salary Costs","Equipment Costs","Storage Costs","Land Rent $/Ac","Producer Profit Margin $/Ac","Producer Return on Investment or ROI (Reward)","Landowner Return on Asset (ROA)","Total Costs $/Ac (Risk)"]
[1,"Production Cost Rent (Low Range)",{"$f":"'Land Rent '!H34","v":370.05604820361634},{"$f":"'Land Rent '!H35","v":27},{"$f":"'Land Rent '!H36","v":89.14599750353068},null,{"$f":"'Land Rent '!G43","v":71},{"$f":"'Land Rent '!I40","v":30},{"$f":"'Land Rent '!I69","v":5.4105964838287932E-2},{"$f":"'Land Rent '!G65","v":1.7108433734939758E-2},{"$f":"SUM(C6:G6)","v":557.20204570714702}]
[2,"Production Cost Rent (High Range)",{"$f":"'Land Rent '!H34","v":370.05604820361634},{"$f":"'Land Rent '!H35","v":27},{"$f":"'Land Rent '!H36","v":89.14599750353068},null,{"$f":"'Land Rent '!I43","v":86},{"$f":"'Land Rent '!G40","v":15},{"$f":"'Land Rent '!G69","v":2.6473086572300936E-2},{"$f":"'Land Rent '!I65","v":2.0722891566265059E-2},{"$f":"SUM(C7:G7)","v":572.20204570714702}]
[4,"Land Value Rent (Low Range)",{"$f":"'Land Rent '!G83","v":370.05604820361634},{"$f":"'Land Rent '!G84","v":27},{"$f":"'Land Rent '!G85","v":89.14599750353068},null,{"$f":"'Land Rent '!G87","v":93},{"$f":"'Land Rent '!G88","v":8},{"$f":"'Land Rent '!G90","v":1.406755095780985E-2},{"$f":"'Land Rent '!G91","v":2.2409638554216866E-2},{"$f":"SUM(C8:G8)","v":579.20204570714702}]
[null,"Land Value Rent (High Range)",{"$f":"'Land Rent '!G83","v":370.05604820361634},{"$f":"'Land Rent '!G84","v":27},{"$f":"'Land Rent '!G85","v":89.14599750353068},null,{"$f":"'Land Rent '!H87","v":114},{"$f":"'Land Rent '!H88","v":-13},{"$f":"'Land Rent '!H90","v":-2.1412865549308407E-2},{"$f":"'Land Rent '!H91","v":2.7469879518072289E-2},{"$f":"SUM(C9:G9)","v":600.20204570714702}]
[3,"Maximum Breakeven Land Rent",{"$f":"'Land Rent '!H34","v":370.05604820361634},{"$f":"'Land Rent '!H35","v":27},{"$f":"'Land Rent '!H36","v":89.14599750353068},null,{"$f":"'Land Rent '!H37","v":101.147954292853},0,{"$f":"'Land Rent '!L69","v":0},{"$f":"SUM(('Land Rent '!H37-'Land Rent '!H77)/('Land Rent '!H75))","v":2.4373001034422411E-2},{"$f":"SUM(C10:G10)","v":587.35}]
[]
[null,"Land Rent - Summary"]
[null,"Producer - Profit Margin Summary"]
[]
[]
[]
[null,"Producer - Flex Rent Risk & Reward Analysis"]
[null,"Landowner - Flex Rent Profitability Analysis",null,null,null,null,"Landowner Rent $/Ac (Reward)","Producer Profit $/Ac (Reward)"]
[null,null,"Operating Costs","Labour / Owner Salary Costs","Equipment Costs","Storage Costs","Land Rent $/Ac","Producer Profit Margin $/Ac","Producer ROI (Reward)","Landowner ROA (Reward)","Total Costs $/Ac (Risk)"]
[null,"Minimum Rental Rate",{"$f":"C21","v":367.56064592875089},{"$f":"D21","v":27},{"$f":"E21","v":89.14599750353068},{"$f":"F21","v":0},{"$f":"'Flexible Land Rent'!B17","v":63},{"$f":"'Flexible Land Rent'!G103","v":-102.70664343228157},{"$f":"'Flexible Land Rent'!G94","v":-0.18786426809719836},{"$f":"'Flexible Land Rent'!G90","v":1.5180722891566266E-2},{"$f":"SUM(C20:G20)","v":546.70664343228157}]
[null,"Flexible Land Rent Payment Due - (Actual Yield & Price)",{"$f":"HLOOKUP('Flexible Land Rent'!F7,'Land Rent '!D9:J26,10,FALSE)","v":367.56064592875089},{"$f":"D23","v":27},{"$f":"E23","v":89.14599750353068},{"$f":"HLOOKUP('Flexible Land Rent'!F7,'Land Rent '!D9:J26,13,FALSE)","v":0},{"$f":"IF('Flexible Land Rent'!E30<'Flexible Land Rent'!B17,'Flexible Land Rent'!B17,IF('Flexible Land Rent'!E30>'Flexible Land Rent'!G17,'Flexible Land Rent'!G17,'Flexible Land Rent'!E30))","v":79},{"$f":"'Flexible Land Rent'!G85","v":-7.7066434322815667},{"$f":"'Flexible Land Rent'!G76","v":-1.3695668110961295E-2},{"$f":"'Flexible Land Rent'!G72","v":1.9036144578313253E-2},{"$f":"SUM(C21:G21)","v":562.70664343228157}]
[null,"Maximum Rental Rate",{"$f":"C21","v":367.56064592875089},{"$f":"D21","v":27},{"$f":"E21","v":89.14599750353068},{"$f":"F21","v":0},{"$f":"'Flexible Land Rent'!G17","v":94},{"$f":"'Flexible Land Rent'!G121","v":88.293356567718433},{"$f":"'Flexible Land Rent'!G112","v":0.1528342413428869},{"$f":"'Flexible Land Rent'!G108","v":2.2650602409638555E-2},{"$f":"SUM(C22:G22)","v":577.70664343228157}]
[null,"Avg. Production Cost Rent",{"$f":"C6","v":370.05604820361634},{"$f":"D6","v":27},{"$f":"E6","v":89.14599750353068},{"$f":"F6","v":0},{"$f":"AVERAGE(G6:G7)","v":78.5},{"$f":"AVERAGE(H6:H7)","v":22.5},{"$f":"'Land Rent '!J69","v":4.0106024876343675E-2},{"$f":"'Land Rent '!J65","v":1.8915662650602409E-2},{"$f":"SUM(C23:G23)","v":564.70204570714702}]
[]
[]
[null,"Avg. Production Cost Based Rental Rate - Share of Gross Revenue"]
[null,"Gross Revenue",null,{"$f":"'Land Rent '!H33","v":587.35}]
[null,"Margin Over Operating Costs",null,{"$f":"SUM(D27-D29)","v":217.29395179638368}]
[null,"Operating Costs",{"$f":"SUM(D29/$D$27)","v":0.63004349740974941},{"$f":"'Land Rent '!H34","v":370.05604820361634},null,"Low","high"]
[null,"Land Rent",{"$f":"SUM(D30/$D$27)","v":0.13365114497318464},{"$f":"AVERAGE(G6:G7)","v":78.5},null,{"$f":"G6/D27","v":0.12088192730058737},{"$f":"SUM(G7/D27)","v":0.1464203626457819},"gross"]
[null,"Equipment Cost",{"$f":"SUM(D31/$D$27)","v":0.15177661956845268},{"$f":"'Land Rent '!H36","v":89.14599750353068}]
[null,"Producer Profit",{"$f":"SUM(D32/$D$27)","v":3.8307653017791772E-2},{"$f":"AVERAGE(H6:H7)","v":22.5}]
[null,"Owner Labour & Living Costs",{"$f":"SUM(D33/$D$27)","v":4.5969183621350128E-2},{"$f":"'Land Rent '!H35","v":27}]
[]
[]
[]
[]
[]
[null,"Avg. Production Cost Based Rental Rate - Share of Margin Over Operating Cost"]
[null,"Gross Revenue",null,{"$f":"'Land Rent '!H33","v":587.35}]
[null,"Margin Over Operating Costs",null,{"$f":"SUM(D40-D42)","v":217.29395179638368}]
[null,"Operating Costs",{"$f":"SUM(D42/$D$27)","v":0.63004349740974941},{"$f":"'Land Rent '!H34","v":370.05604820361634},null,"Low","high"]
[null,"Land Rent",{"$f":"SUM(D43/$D$41)","v":0.36126178087809269},{"$f":"D30","v":78.5},null,{"$f":"G6/D41","v":0.32674632410630039},{"$f":"SUM(G7/D41)","v":0.39577723764988498},"MOA"]
[null,"Equipment Cost",{"$f":"SUM(D44/$D$41)","v":0.4102553097615223},{"$f":"'Land Rent '!H36","v":89.14599750353068}]
[null,"Producer Profit",{"$f":"SUM(D45/$D$41)","v":0.10354637031537689},{"$f":"D32","v":22.5}]
[null,"Owner Labour & Living Costs",{"$f":"SUM(D46/$D$41)","v":0.12425564437845227},{"$f":"'Land Rent '!H35","v":27}]