An ag economist says it’s going to cost farmers more to produce corn this year. In the last five years, University of Missouri Extension’s Ray Massey tells Brownfield input prices have increased 40%.
“In 2018, I estimated the cost of growing corn at about $500 per acre, including seed, fertilizer, land and equipment. My estimate for 2023 is $860 per acre.”
Even though fertilizer prices have declined compared to this time last year, Massey says fertilizer is the still most dramatic input price increase.