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
Energy risks could reshape global ag trade flows.
Geopolitical tensions in the Strait of Hormuz disrupt fertilizer shipments, raising costs and creating uncertainty for U.S. farmers ahead of planting season.
Mike Steenhoek with the Soy Transportation Coalition discusses supply chain disruptions, rising costs, and the potential impact on agriculture as farmers navigate ongoing global uncertainty.
Suderman joins Tony St. James in the RFD Studios to discuss how geopolitical tensions are triggering global transport disruptions, new inflation pressures, and other challenges for agriculture to navigate.
Farm Bureau economist Dr. Faith Parum explains how geopolitical dynamics in the Middle East could further tighten fertilizer movement, increase fuel costs, and complicate planting decisions for U.S. farmers this spring.
Farm CPA Paul Nieffer explains the Farmer Bridge Assistance payment limits, provides clarity on new legislation, and offers advice for producers considering business structure adjustments.
