While most commodity prices are in the tank, a new report from the American Farm Bureau Federation outlines the expense side of the ledger. It says production expenses this year are forecast to be record high at $467 billion. That’s nearly $12 billion higher than one year ago. Cash rents and farmland values are at record highs. Fertilizers represent one of the single largest costs for row crop operations. Those prices are down from their peak in 2022, but well above pre-Covid levels. The report says big yields will not be enough to guarantee profitability this fall, especially with expenses holding firm. Read the entire report.
