Economists: Farmers should price 2023 production of corn to cover high fertilizer costs next year

Nitrogen fertilizer prices are currently declining, but economists at the University of Illinois say farmers will face much higher prices at the beginning of next year, but they could go down next spring.

To cover those costs, farmers are being urged to price 2023 production of corn if sales are not made at the same time corn prices could decline. Splitting nitrogen fertilizer applications is also a risk management strategy farmers can practice.

The University says break-even prices will also likely be higher next year, with $5 corn and $11 soybeans.

Related:

Fertilizer prices fall for the third consecutive week

Canadian farmers are pushing back against fertilizer reduction plans

Lawmakers urge President Biden to ramp up energy and expedite domestic fertilizer production






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