Input costs are still a big issue for farmers, an issue that has been around for several years now. This year, fertilizer costs are expected to be around 40 percent of the budget for corn growers.
Researchers at the University of Illinois say that number is closer to 28 percent for soybean growers. Over the last quarter century, they found that the global fertilizer market has expanded, with countries like China, Russia, Canada, and the United States becoming major fertilizer suppliers.
Most of these, U.S. included, rely on imports to meet our own fertilizer needs. Market analysts say it is important for farmers to understand the structure of the fertilizer market, as well as the risks.
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Seven out of the eight major fertilizers saw recent price decreases. However, one key type of fertilizer bucked the overall trend with an 11-percent rise.
Researchers at Florida Atlantic University’s Harbor Branch Oceanographic Institute found human sewage, not fertilizer, is mainly responsible for dangerous nitrogen levels in Florida’s Indian River Lagoon.
Our panel will discuss the pros and cons that growers must consider when making last-minute and mid-season fertilizer adjustments.
