I'd need to know a lot more...what equipment you have, what you'd need, etc. Is there storage for the hay, how far from the grainy that buys soybeans, etc. Everything costs time and money.
MRM is right on the mark. Farming is legalized gambling.
I have 55 acres under till (or, no till these days). A good year here means 35 bushels of soybeans or corn per acre. Prices fluctuate quite a bit, but lets use $5.00 a bushel as your gross.
That is $175.00 an acre or, $9,625.00 per crop. I usually get one soybean or corn per year plus a crop of winter wheat...which I gross approximately $3,000.00 on.
So, my gross farm receipts, before expenses, is $12,625.00 on an average year. Again, prices fluctuate like any commodity.
Figure, after all receipts are in for expenses, including seed, fertilizer, machine hire, transportation of crops, equipment maintenance, etc., a minimum 50% overhead.
You may do better on your hay if you have excess. I grow enough for our horses.
My sincere advice is to visit your local county agent and get the real skinny
for your area. A lot of folks make a go of it with non-standard crops, Christmas tree farms, etc.
I very much encourage the life-style, but no one I know with a farm the size you are contemplating (mine as well) does not have a steady second income.
PM if you want more details...I've been doing this for almost 20 years and have made enough mistakes to help
