In this file:
· Fertilizer Index Hits Record, Threatening Higher Food Prices
· 27-year-old farmer says cost of farming making it difficult to be profitable
Fertilizer Index Hits Record, Threatening Higher Food Prices
o Surge of North American nutrient gauge surpasses 2008 peak
o Rising prices threaten farmers and exacerbate food inflation
By Elizabeth Elkin, Bloomberg
October 8, 2021
A gauge of North American fertilizer prices soared to a record high, driving up costs for farmers and threatening to worsen food inflation.
The Green Markets North America Fertilizer Price Index rose 7.9% to $996.32 per short ton, soaring past its 2008 peak to set a new benchmark for the index that began in January 2002.
The fertilizer market has been hit hard this year due to extreme weather, plant shutdowns, sanctions and rising energy costs in Europe and China, pushing prices past levels that traders and farmers hadn’t seen since the global financial crisis...
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27-year-old farmer says cost of farming making it difficult to be profitable
By Kellan Heavican, Brownfield
October 12, 2021
A sixth-generation Midwest grower says ‘skyrocketing’ startup costs are making it difficult for young farmers to be profitable.
South-Central Nebraska farmer Mitch Oswald says the biggest obstacle is acquiring ground, which can sell in his area anywhere from $9-14,000 an acre. “To be able to be productive and successful in this area, you’re going to have to find any opportunity you can to rent or if you have a chance to buy you’re probably going to take it because you don’t know how much you’re going to be able to buy throughout my lifetime with the way the market is for ground around here.”
The 27-year-old raises corn, seed corn and soybeans and tells Brownfield input and equipment costs are adding up and that makes long term decisions nearly impossible...