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.
Related Stories
Galynn Beer of Tidal Grow Agri-Science joined us to discuss challenges in fertility management, the benefits of Align-N, and what growers can expect at Commodity Classic next week.
Tommy Roach with Nachurs Alpine Solutions discuss fertilizer decision-making, plant fertility strategies, and what farmers can learn at Commodity Classic.
Fertilizer still consumes an unusually large share of crop value.
President Donald Trump signed an executive order this week to accelerate domestic production of phosphorus and glyphosate, signaling that farm input availability is now treated as a national security risk.
Fuel costs ease over the long term, but fertilizer energy remains volatile.
Lower oil prices may trim input costs but pressure biofuel demand.
