A University of Illinois ag economist says the market may be overestimating the impact high input prices will have on 2022 planted acres.
Scott Irwin says high priced inputs like fertilizer will sway some planting intentions, but the costs are rising for both corn AND soybeans.
“Fertilizer costs are projected to go up for 2022 vs 2021 by $100 per acre for corn, but what’s lost in the discussion is that fertilizer costs are also going up about $50 per acre for soybeans, so the net difference is only $50 an acre.”
And he says input prices are only half of the equation, pointing to favorable commodity prices and farm income as the other half.
