USDA Economic Research Center Releases Fertilizer Data

Welcome to Corn Comments, I’m DaNita Murray, Executive Director for South Dakota Corn. We are brought to you by the South Dakota Corn Utilization Council, a volunteer group of farmers who promote corn marketing in this state, the U.S., and around the globe.

Recently, USDA’s Economic Research Center released data indicating the agency expects that fertilizer’s share of expected total cost of production for corn in 2023 would decrease after the spike in 2021 and 2022. ERS states that, “from 2022 to 2023, total corn production costs remained elevated compared with 2021 and before, even as fertilizer costs declined. Iowa prices published by the Agricultural Marketing Service for the most commonly used fertilizers anhydrous ammonia, urea, and liquid nitrogen show decreases from 2023 to 2024.” Corn prices also began a decline last fall and kept dropping.

Grower profitability is a foundational issue for the SD Corn Utilization Council. Stay tuned for more information on this and other topics.