Scary input prospects for 2023

A southwest Minnesota farmer is nervous about the 2023 growing season.

Bob Worth grows corn and soybeans in Lincoln County and says high input costs loom large.

“Next year is a wild card. We do have our fuel bought for 2023, but we have nothing else bought so it’s scary.”

He tells Brownfield he’s hearing anhydrous ammonia prices could approach $2,000 per ton next year.

“So if that’s that high, everything is going to be that high. And rent for our area, with these high prices, they’re talking about $450 an acre that some people are offering already (and) that is scary. You can’t make that work at all.”

University of Illinois ag economist Gary Schnitkey tells Brownfield farmers should already be budgeting for 2023 and to lock in prices whenever they can.