Despite skyrocketing fertilizer prices, a new report shows most farmers will not reduce fertilizer usage or plant less corn next year.
The Farmers Business Network surveyed more than 1,000 farmers, most showing no sizable change in plans for fertilizer usage in 2023. FBN Chief Economist, Kevin McNew says he believes farmers are getting comfortable with high fertilizer prices and says only 17 percent of those surveyed would reduce usage. Nine percent intended to increase rates.
He echoes what other industry experts have been projecting, which is nitrogen-based fertilizers are expected to increase in price well into next year.
