Farmers want better technology, more control over costs, and greater certainty as they make decisions not only for the next growing season but for the next several years.
Farm families plan in decades. They make decisions about land, equipment, crops, and investments knowing that what they do today will shape the farm their children and grandchildren will inherit. Companies that serve agriculture should think the same way.
No single company can solve all the challenges facing agriculture. The best that companies in farming can do is identify actions they can control and act accordingly with a long-term focus.
Fertilizer is one of the most expensive items on a farm’s balance sheet. Its rising price lately has put significant financial pressure on American farmers. The U.S. Department of Agriculture says fertilizer is roughly 36 percent of operating costs for corn growers and 35 percent for wheat growers. That is a concern now and over the long term.
A significant amount of the traditional fertilizer supply chain is imported and depends on global production, energy markets and complex global logistics. The war with Iran and disruption around the Strait of Hormuz have demonstrated how global events can affect the economics of planting an acre from Texas to Minnesota, New York to Arizona, and all across rural America.
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