USDA will soon dish out more than $100 million on increasing domestic fertilizer production.
They will be spending $116 million on the effort, with the money coming from the Commodity Credit Corporation. The funds will help expand fertilizer production in nine states across eight different facilities.
Ag Secretary Tom Vilsack says he hopes the money will lower inputs while increasing options for farmers. So far through the Fertilizer Production Expansion Program, USDA has spent more than half a billion dollars on more than 75 fertilizer facilities.
Related Stories
Specialty Risk’s Jake Charleston discusses PRF coverage as producers navigate drought conditions.
With crop conditions, trade, and geopolitical developments all in focus, traders will be watching Friday’s WASDE report to see where the agricultural markets are headed next.
Expanded coverage gives cattle producers another way to protect future calf values as they consider rebuilding their herds.
Satellite data and artificial intelligence could help USDA improve crop estimates while reducing reliance on producer surveys.
Rising government payments are helping offset higher production costs as inflation-adjusted farm income declines.
USDA researchers say the method could also produce healthier males for release in the field.