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More costly to grow corn in 2023

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. He says good management will continue to be key this year.

“I think there are people cutting back on fertilizer, making sure they’re putting on the right amount.”

Massey says soybean production costs have also increased, but not as much as corn. Brownfield interviewed Massey at the Midwest Crops Outlook Conference, which continues through Wednesday.