Figure 1.5 Economic characteristics of maize and soybean production in Iowa, 1972-98: (a) yields, (b) non-land production costs, (c) prices, (d) gross returns, (e) returns above non-land production costs, and (f) herbicide costs as percentages of total non-land production costs. Prices, costs, and returns have been adjusted for inflation using the Consumer Price Index of the US Bureau of Labor Statistics (base period: 1982-4). Production costs are for machinery, seeds, pesticides, fertilizers, and labor. Gross returns have been calculated as the product of state average yields (Mg ha-1) and prices ($ Mg '). Sources: Duffy & Vontalge (1998 and previous years), and M. D. Duffy, Iowa State University, personal communication (2000).
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