Fertilizer Free Fall: The Gamble of Locking In Prices
The decision of when to lock in input prices is always a gamble, and in 2023, those who opted to wait might feel like they won the lottery. Fertilizer and herbicide prices have been in a bit of a free fall since spring, a dramatic change from the price shock farmers faced in fall 2022.
According to Ohio State University’s Barry Ward, if farmers locked in their input prices prior to spring, they’ll more than likely harvest their most expensive crop ever this fall. If they waited to buy fertilizer until April or May, the 2022 crop holds that record.
By TYNE MORGAN
August 17, 2023