Fertilizer, one of the major costs in crop production, changes more in price each year than many other input costs. Table 1 illustrates these fluctuating prices as well as how the price for the source of nitrogen fertilizer changes from year to year.
Farmers are increasing their soybean plantings for 2017, which likely means some are shifting to soybeans-after-soybeans. This article looks at what you should be considering at planting time as you consider changing your cropping sequence.
As you evaluate the cost of inputs, consider this: Only focusing on expenses without subsequent income changes is misleading. The most profitable plan uses the most profitable inputs. Is a starter fertilizer one of those inputs? The authors look at university and grower research under various conditions to see when a starter fertilizer offers economic benefits.
A review of 10 years of soybean research shows that reducing your seeding rate from 150,000 to 120,000 seeds/acre can result in a $10.69/acre savings without affecting yield (assuming a $60/unit seed cost at 140,000 seeds/unit).
Many factors in the current agricultural economy are leading producers to consider a lease arrangement of new capital purchases instead of an outright purchase. When considering this option, it’s important to consider both the pros and cons as well as possible effects on your tax return.