Corn and soybeans are already fighting for next spring’s acres. “The battle lines are drawn between the soybeans and the grains,” said Mike Zuzolo, president, Global Commodity Analytics and Consulting. “We have supply-led rallies still in tact for the grains with a good question about new crop supplies.” Zuzolo is seeing availability and prices of fertilizer influencing planting decisions for next year. “The new crop soybean-corn ratio is now at 2.35, the lowest since late November of 2020. The commodity sector is already hearing and feeling the repercussions of the potential for higher prices for fertilizer and perhaps not even getting certain types of fertilizer. That’s making it hard for farmers to make decisions.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.