Input costs are high for farmers right now and one of the biggest price hikes has come from the cost of fertilizer.
Fertilizer prices have skyrocketed over the last year or so and with several international factors causing turbulence in the fertilizer industry, the higher prices might become more of a reality for U.S. producers.
That’s Farmers Business Network Economist Kevin McNew. With the turmoil worldwide causing issues for fertilizer supply, the good news for U.S. farmers is that the United States might be in the best position to handle a shortage of nitrogen fertilizer.
With drought causing problems for growers in the United States, Europe, and China and war in Ukraine attention has turned towards South American crops.
However, McNew says weather is also causing problems for South American growers.
McNew has advice for what farmers should be thinking about with weather and geopolitics outside of North America creating a lot of questions about the market.
For more information visit https://www.fbn.com/
