While fertilizer prices are coming down, experts at a recent industry conference say high input costs are at least one factor driving some farmers to look more at no-till systems and cover crops as a way to reduce nutrient and chemical needs.
Even though some farmers could not afford the rising costs of fertilizer, the commodity’s prices have massively boosted company profits this year. One major player saw net earnings over the first nine months of 2022 jump more than 1,000% over the same time period in 2021.
“We import 80% of the fertilizer we use from outside the U.S. so the situation in eastern Europe will affect those supply chain issues around the world," one farm bureau representative said.
Seeds and fertilizers make up 62% of the operating costs to produce corn and 51% of the operating costs to produce soybeans, according to U.S. Department of Agriculture data.
