FINBIN is one of the largest and most accessible sources of farm financial and production benchmark information in the world. FINBIN places detailed reports on whole farm, crop, and livestock financials at your fingertips.
With just a few clicks of the mouse, you can see reports such as:
The possibilities are endless. Select Whole Farm Reports, Crop Reports, or Livestock Reports to create your own custom report.
The FINBIN database has been updated to include 2018 farm financial reports for Minnesota farm business management programs. Minnesota farmers continued to struggle with low prices and low profitability. Median net income was $26,055 in 2018, down 8%. After adjusting for inflation, Minnesota farms earned the lowest median farm income of the 23 years included in FINBIN. The economic pain was widespread; median incomes were $31,000 or lower for all of Minnesota's major commodity farms; crop, dairy, pork and beef producers. Not every operation struggled. Across all farms, the farms earning the highest net incomes, those in the top 20%, earned an average of $184,000. Those in the lower 20% lost almost ($72,000).
You can use FINBIN's summary reports to see the financial results for all farms by type or size of farm. Or run a benchmark report to compare your farm to a group of farms similar to yours.
As powerful as FINBIN is, you can enhance its value to you as a producer by joining a farm management association or education program. These programs provide individual farm management assistance to producers and have proven their worth to the thousands of producers who participate in these programs.