Corn for silage sometimes is sold standing in the field, and farmers frequently ask how to determine a fair price for the standing crop. The following provides some guidelines for estimating the value of a standing corn crop.
| Mature Corn – 50% Grain DM Content | Example 1 | Example 2 | Example 3 | Example 4 | Your Figures |
|---|
1 The following formula may be used to estimate the wet yield of a standing corn crop with 22-inch rows: a. Select a representative row and measure 23.8 feet. (For 36-inch rows, use 14.5 feet of row. For 30-inch rows, use 17.4 feet.) b. Cut at normal chopping height and weigh, then multiply by 1,000 to estimate total weight per acre. c. Divide answer obtained in “b” above by 2,000 to convert to tons per acre. 2 Corn silage is primarily an energy feed. The dry-matter value of silage can be compared with the local value of shelled corn and grass hay.
Good-quality corn silage typically will average 50% corn grain by dry-matter weight. 3 The most frequent custom rate charged for field chopping and hauling was $12 per ton. We assume the rate would vary between custom harvesters. |
| 1. Estimate of yield per acre in tons1 | 5 | 10 | 15 | 20 | _________________ |
| 2. Percent dry matter | 35 | 35 | 35 | 35 | _________________ |
3. Value of silage per acre at $48.03 per ton2
(calculations shown on Page 2) | $ 240.15 | $ 480.30 | $ 720.45 | $ 960.60 | _________________ |
| 4. Less custom cost of chopping and hauling per acre3 | $-60.00 | $-120.00 | $-150.00 | $-240.00 | _________________ |
| 5. Value per acre of standing corn for silage | $ 180.15 | $ 360.30 | $ 570.45 | $ 720.60 | |
| | | | | | |
| Immature Corn – 25% Grain DM Content | Example 1 | Example 2 | Example 3 | Example 4 | Your Figures |
| 1. Estimate of yield per acre in tons1 | 5 | 10 | 15 | 20 | _________________ |
| 2. Percent dry matter | 35 | 35 | 35 | 35 | _________________ |
3. Value of silage per acre at $41.51 per ton2
(calculations shown on Page 2) | $ 207.55 | $ 415.10 | $ 622.65 | $ 830.20 | _________________ |
| 4. Less custom cost of chopping and hauling per acre3 | $-60.00 | $-120.00 | $-150.00 | $-240.00 | _________________ |
| 5. Value per acre of standing corn for silage | $ 147.55 | $ 295.10 | $ 472.65 | $ 590.20 | |
| | | | | | |
| Immature Corn – 0% Grain DM Content | Example 1 | Example 2 | Example 3 | Example 4 | Your Figures |
| 1. Estimate of yield per acre in tons1 | 5 | 10 | 15 | 20 | _________________ |
| 2. Percent dry matter | 35 | 35 | 35 | 35 | _________________ |
3. Value of silage per acre at $35.00 per ton2
(calculations shown on Page 2) | $ 175.00 | $ 350.00 | $ 525.00 | $ 700.00 | _________________ |
| 4. Less custom cost of chopping and hauling per acre3 | $-60.00 | $-120.00 | $-150.00 | $-240.00 | _________________ |
| 5. Value per acre of standing corn for silage | $ 115.00 | $ 230.00 | $ 375.00 | $ 460.00 | |
The value of the standing corn crop depends upon several variables, including yield, price of substitute feed crops, and harvesting and hauling costs. The figure on line 5 in the above examples indicates the maximum amount the buyer could afford to pay. The buyer should discount the computed price by the estimated spoilage. With this information, the parties would negotiate the price.
If you have all-risk crop insurance on your corn crop, check with your insurance agent before you begin chopping to determine how selling the standing corn crop will affect yield history and insurance payments if the situation warrants.
Failure to notify your insurance agent may result in forfeiture of any potential indemnity payment. If you have a potential insurance claim, your insurance company likely will require you to leave a number of rows unharvested at specified intervals across the field to be used for final appraisal. Also, selling unharvested corn results in a loss of beneficial interest prior to harvest. This means you will not be eligible for any potential loan deficiency payment.
Calculating the Value Per Ton of Corn Silage
If shelled corn containing 13% moisture is priced locally at $4.25 per bushel and grass hay containing 10% moisture is priced at $90 per ton, their value per pound of dry matter is computed as follows:
Corn 56 lbs. x 0.87 = 48.72 lbs. dry matter
$4.25
——— = 0.0872 or 8.72 cents per pound of dry matter
48.72
Hay 2,000 lbs. x 0.90 = 1,800 lbs. dry matter
$90
——— = 0.0500 or 5 cents per pound of dry matter
1,800
If silage contains 35% dry matter, there are 700 pounds of dry matter per ton, or the equivalent of 350 pounds of shelled corn and 350 pounds of grass hay. Mature, high-yielding grain corn should contain 50% grain by dry-matter weight.
350 lbs. corn equivalent x .0872 = 30.53
350 lbs. hay equivalent x .0500 = 17.50
1,300 lbs. water x .0000 = 0.00
———
2,000 lbs. $48.03 per ton of silage containing 35% dry matter
The above example is typical of good-quality mature corn made into silage. However, immature (early frost) or drought-impacted corn salvaged for silage contains much less grain relative to stalk and leaf material. Corn in the hard dough stage may be only 25% grain by dry-matter weight. In that case, the value would be computed as follows:
175 lbs. corn equivalent x .0872 = 15.26
525 lbs. hay equivalent x .0500 = 26.25
1,300 lbs. water x .0000 = 0.00
———
2,000 lbs. $41.51 per ton of immature, drought-stressed corn silage containing 35% dry matter
Very immature corn with no grain content would be valued based on hay equivalent value only.
0 lbs. corn equivalent x .1129 = 0.00
700 lbs. hay equivalent x .0500 = 35.00
1,300 lbs. water x .0000 = 0.00
———
2,000 lbs. $35.00 per ton of corn silage with 0% grain content containing 35% dry matter.
NDSU Extension has a corn silage decision tool www.ndsu.edu/agriculture/ag-hub/corn-silage-decision-tool
This publication was authored by Dwight Aakre, retired NDSU Extension farm management specialist; Zac Carlson, former NDSU Extension beef cattle specialist; and Andy Swenson, retired NDSU Extension farm management specialist; 2007.
