Joint Ventures                                 
                                   Crop Enterprise Analysis, 1999                         
                    Northland Community and Technical College Farm Business Mgt.          
                                              Moorhead                                    
                                       (Average of All Farms)                             

                                   SUGAR BEETS ON CASH RENTED LAND                        


                                                  Average For
                                                   All Farms 
                                                  -----------
 Number of fields                                         24
 Number of farms                                          21

 Acres                                                275.17
 Yield per acre (ton)                                  19.21
 Operators share of yield %                           100.00
 Value per ton                                         33.22
 Total product return per acre                        638.23
 Miscellaneous income per acre                         18.44
 Gross return per acre                                656.67

 Direct expenses per acre
   Seed                                                42.15
   Fertilizer                                          29.55
   Crop chemicals                                     113.64
   Crop insurance                                      11.72
   Fuel & oil                                          21.09
   Repairs                                             39.13
   Custom hire                                         13.49
   Hired labor                                          9.50
   Land rent                                           73.04
   Machinery & bldg leases                              0.47
   Marketing                                          195.66
   Operating interest                                  32.40
 Total direct expenses per acre                       581.84
 Return over direct expenses per acre                  74.83

 Overhead expenses per acre
   Custom hire                                         11.37
   Hired labor                                         19.43
   Machinery & bldg leases                             15.62
   Farm insurance                                       2.69
   Utilities                                            5.19
   Dues & professional fees                             3.33
   Interest                                            17.33
   Mach & bldg depreciation                            27.10
   Miscellaneous                                        6.04
 Total overhead expenses per acre                     108.11
 Total listed expenses per acre                       689.95
 Net return per acre                                  -33.28

 Total direct expense per ton                          30.28
 Total listed expense per ton                          35.91
 Net return per ton                                    -1.73
 Breakeven yield per acre                              20.22
 Est. labor hours per acre                              5.16

 Net return including govt. payments                   -6.93
 Lbr & mgt charge per acre                             48.72
 Net return over lbr & mgt                            -55.65