As an agricultural economist with a focus on crop production and economics, I can provide a detailed analysis of the income farmers can make per acre of wheat. The profitability of wheat farming can vary significantly based on a multitude of factors including the region, the cost of production, the yield per acre, and the market price of wheat.

To begin with, let's consider the yield. The National Agricultural Statistics Service (NASS) provides valuable data on agricultural yields. According to NASS, as mentioned, the 10-year state wheat yield average for Oklahoma is about 33 bushels per acre. Yield is a critical factor as it directly affects the quantity of wheat a farmer can sell. Higher yields can lead to higher gross income, assuming all other factors remain constant.

Next, we need to consider the cost of production. This includes the costs of land, seeds, fertilizers, pesticides, labor, machinery, and other inputs necessary for growing wheat. The cost can vary widely depending on the region, the scale of farming, and the specific practices employed by the farmer. For example, in areas with high land prices or where labor is expensive, the cost of production will be higher.

Now, let's look at the market price of wheat. The price farmers receive for their wheat can fluctuate due to market dynamics, including supply and demand, global economic conditions, and geopolitical factors. The price mentioned in the reference, $8 per bushel, is a specific example and may not be reflective of current market prices. It's essential to check the current market prices to get an accurate estimate of potential income.

Combining these factors, if we use the given numbers: an average yield of 33 bushels per acre and a selling price of $8 per bushel, the gross income per acre before any costs are subtracted would be:

\[ \text{Gross Income per Acre} = \text{Yield per Acre} \times \text{Price per Bushel} \]
\[ \text{Gross Income per Acre} = 33 \text{ bushels/acre} \times \$8/\text{bushel} \]
\[ \text{Gross Income per Acre} = \$264 \]

However, this is the gross income, and to determine the net income, we must subtract the total costs of production from this gross income. The net income will give us the actual profit the farmer makes per acre.

It's also important to note that these calculations are based on averages and specific conditions mentioned. Actual farmer income can be higher or lower depending on their individual circumstances, including but not limited to better or worse yields, lower or higher input costs, and selling at a price above or below the average market price.

In conclusion, the income farmers make per acre of wheat is influenced by a complex interplay of yield, production costs, and market prices. While the example provided gives a basic framework, the actual income can vary significantly. For a more precise calculation, it would be necessary to have up-to-date, specific data for the region in question, including current market prices and the actual costs incurred by the farmer.

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According to the National Agricultural Statistics Service, the 10-year state wheat yield average for Oklahoma is about 33 bushels per acre. If you make the state average yield, you will gross about $254 per acre if you sell for $8 per bushel.Sep 1, 2008read more >>