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.


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