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Soybeans Today January 2000

Economist looks at returns from SRVP

By Rich Maples

Irrigated doublecrop soybeans have yielded about as well as full-season irrigated beans in the Soybean Research Verification Program (photo of SRVP cooperator Kevin Hoke, Jonesboro).

Tony Windham has looked at the yields and production costs and calculated net returns for every dryland, irrigated, full-season and doublecrop field in the Soybean Research Verification Program (SRVP) from 1984 to 1998.

Windham, an economist for the Cooperative Extension Service, University of Arkansas, says his 15 years of data show that, year-in and year-out, "The yields and net returns for irrigated full-season and irrigated doublecrop soybeans are very comparable."

Average yields for the irrigated full-season fields were only about 3 bushels higher than yields for the irrigated doublecropped fields - 46.9 bushels per acre versus 43.6. Net returns (returns minus fixed and out-of-pocket expenses) are almost the same.

U of A Agronomist Lanny Ashlock says irrigation helps offset the later planting date for soybeans following wheat. Production costs are also lower for the doublecropped beans.

"Expenses for the irrigated doublecropped fields have averaged about $20 less than the irrigated full-season beans," says Ashlock. "Machinery costs are lower, especially with no-till production. Weseldom have to apply a fungicide later in the season, and there's less weed pressure."

Windham says of the three categories of dryland fields in the verification program - early season, full season and doublecrop - the early season fields have produced the highest yields and net returns.

Ashlock notes that the earlier planted beans have a better chance of doing well because they're generally maturing when there's still moisture in the ground. "The plants are already reproductive, starting to bloom, in mid- and late May. They're setting pods in June and filling pods in July. With one or two timely rains in July, we have a chance of good yields.

"In 1994, we had a cool, wet summer and a record yield. But in years like 1998, when we had a hot, dry June, dryland doublecropped soybeans can't overcome the later planting date without irrigation."

Windham says that when farmers look at the yield and economic data from the Soybean Research Verification Program, they often note figures such as 31.7 bushels for dryland early season beans and 28 bushels for dryland full-season beans. He warns that, "Those are averages for 15 years, and averages hide the variability.

"A year with single-digit dryland yields might put some farmers in such a severe financial situation that they can't continue farming."

The Soybean Research Verification Program, funded by the Soybean Promotion Board, has been proving the importance of good timely management practices to the farmer's bottom line for 16 years.

A little help from Mother Nature never hurts, either.

Soybeans Today January 2000
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