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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National Association of Wheat Growers President Jamie Kress discusses how rising fertilizer prices pressure wheat producers and the Administration’s consideration of lowering duties on Moroccan phosphate.
As ag lawmakers in the Senate await the House vote on the Farm Bill, they are eager to discuss the challenges farmers face before it is their turn to take up the critical legislation.
Brooks York with AgriSompo addresses how current market conditions and risk management are impacted by volatility in the Middle East, and considerations for farmers in the spring planting season.
As farmers and ranchers navigate rising input costs, lawmakers are considering a roughly $15 billion aid package to help, which would be tied to the spending bill for the war with Iran.
Reported results include stronger in-season nitrogen response, average yield gains of more than seven bushels per acre and more than $18 per acre in net return.
