Welcome to FINBIN

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:

• Soybean cost and returns by tillage system
• Dairy cost and returns by size of herd
• Farm financial standards measures by type of farm

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 2022 farm financial reports for the Minnesota farm business management programs. Minnesota farms saw continued financial improvement in 2022. Median net farm income for Minnesota farms reached $177,256 in 2022. 2022 saw an 8% improvement in profitability over 2021, and when adjusted for inflation, 2022 farm profits were the second highest among the historical records. The average Minnesota farm saw continued improvement in working capital and retained earnings. Repayment capacity, solvency, and financial efficiency performance also remained strong.

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.

In 2021, the University of Minnesota’s Center for Farm Financial Management partnered with Environmental Defense Fund to establish a financial data-gathering process for cover crops. As a result of this continuing effort, more Cover Crop Impact reports are now available in FINBIN.

Look at the following reports to compare corn and soybeans grown with and without cover crops in Minnesota in 2022. Each report contains four columns to compare the impact cover crop production has on enterprise profitability.

• Corn on Cash Rent & Owned land in Northern MN - Cover Crop Impact
• Corn on Cash Rent & Owned land in Southern MN - Cover Crop Impact
• Soybeans on Cash Rent & Owned land in Northern MN - Cover Crop Impact
• Soybeans on Cash Rent & Owned land in Southern MN - Cover Crop Impact

Run Your Own Cover Crop Reports

Learn How To Run Your Own Cover Crop Reports using these real-world examples.

• February 15, 2023 - Red River Farm Network Interview: Dr. David Kohl (Red River Farm Network)
• November 16, 2022 - Farming the alphabet (Farm Progress)
• November 7, 2022 - Organic production profitable in Upper Midwest despite inflation (Feedstuffs)
• October 12, 2022 - Cropland rental rates expected to increase (Jackson County Pilot)
• August 9, 2022 - Learn to manage farm overhead costs (DakotaFarmer)
• August 5, 2022 - Conventional and Organic Enterprise Net Returns (farmdoc Daily)
• July 22, 2022 - Cash Flow Management (Kansas Farm Management Assocation)
• July 20, 2022 - Homegrown: Price-checking your grain market strategy (Sturgis Journal)
• July 1, 2022 - Trends in Working Capital (farmdoc Daily)
• April 5, 2022 - For the second year, Minnesota farmers saw profitability improve in 2021 (Star Tribune)
• November 17, 2021 - Bankers’ views: How subsidies, drought, and costs affected farmer financials (Federal Reserve Bank of Minneapolis)
• November 10, 2021 - New program sheds light on cover crop financials with big data (Environmental Defense Fund)
• November 4, 2021 - Look at multiple benchmarks to know financial status (Farm and Dairy)
• November 1, 2021 - Cover crops meet big data in new program from EDF and Minnesota partners (Environmental Defense Fund)
• October 29, 2021 - Benchmarking Crop Machinery Cost and Investment (farmdoc Daily)
• October 1, 2021 - Conventional and Organic Enterprise Net Returns (farmdoc Daily)
• July 13, 2021 - Keep the Good Times Rolling: Boost Your Bottom Line by Building Cash Reserves, Investing in Income-Producing Assets (DTN Progressive Farmer)
• June 2, 2021 - Research update: Economics of tillage in Minnesota (University of Minnesota Extension)
• May 14, 2021 - Trends in Corn Plant Populations (farmdoc Daily)
• February 17, 2021 - Local cropland rental rates are expected to hold steady (Jackson County Pilot)
• February 15, 2021 - Marketing in farming important for success (Morrison County Record)
• January 29, 2021 - Taking a look at farmland rental rates (The Globe)
• January 19, 2021 - How to use benchmarking in farm management decisions (DakotaFarmer)
• December 9, 2020 - Big farms, big government payments (Farm Futures)
• November 3, 2020 - The government payment spigot (Corn + Soybean Digest)
• October 22, 2020 - Oklahoma State Extension offers assistance with farm financial plans (High Plains Journal)
• September 24, 2020 - Do You Know Your Costs to Grow Feed? (Dairy Herd Management)
• September 4, 2020 - Conventional and Organic Enterprise Net Returns (farmdoc Daily)
• Fall 2020 - The Role of Hog Farmers in Minnesota's Rural Economy (University of Minnesota Extension)
• Fall 2020 - The Role of Dairy Farmers in Minnesota's Rural Economy (University of Minnesota Extension)
• July 31, 2020 - Dairy Financial Performance: How Did 2019 Compare to Previous Years? (Dairy Herd Management)
• July 30, 2020 - Comparison of a Conventional Crop Rotation with an Organic Forage-Based Crop Rotation (farmdoc Daily)
• July 29, 2020 - Data Show Precision Ag Tech Boosts Land Values for Users (Ag Daily)
• June 11, 2020 - Succession planning and retirement for farmers and ranchers (Federal Reserve Bank of Minneapolis)
• June 5, 2020 - Comparison of Conventional and Organic Crop Rotations (farmdoc Daily)
• March 5, 2020 - FINBIN – What is it and how do I use it? (FINPACK News)
• January 17, 2020 - Minding Ag's Business—Profit Through Marketing, Management (DTN Progressive Farmer)

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.