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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Fertilizer relief may be limited despite the reopening of the Strait of Hormuz this week. AgriSompo’s Brooks York discusses marketing strategies, crop insurance considerations, and other tips for producers navigating volatility this planting season.
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K-State’s Dr. Gregg Ibendahl breaks down the impacts of the Middle East ceasefire on energy markets and input costs, and what farmers should watch in the weeks ahead.
Tight global supply is likely to keep fuel and fertilizer costs elevated.
Farmer Jeffry Mitchell with the Mississippi Farm Bureau joins us for a spring planting update from the southeast region as drought, input costs, and fertilizer access complicate crop progress.
