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Wrapping it Up. The USDA cost of production estimates suggest that 2016 input costs will be similar to 2015. With prices at current levels, this would mean another challenging year for many farmers.or instance, at the estimated trend yield of 166 bushels per acre for corn the costs of production would be $4.11 per bushel. Using this approach soybeans and wheat come in at costs of $10.65 and $6.50 per bushel respectively.
Variable costs accounted for 31 percent of the total cost of production for soybeans, other nonland costs 33 percent and land costs 36 percent. The average soybean yield for all combined areas of the state was 48 bushels per acre resulting in a total cost of production of $7.04 per bushel.