Crop farmers face higher input costs next season

by Katie Allen Corn and soybean farmers have faced record prices for inputs this year, but next year those costs will likely be even worse. That’s according to a recent study by the University of Illinois Extension, which says that 2009 production costs for corn will run producers about $529 per acre, an increase of $141 compared to this year. Non-land production costs for soybeans are projected at $321 per acre, up $82 from this year. The study shows fertilizer is the input expected to increase the most. For corn, 2009 fertilizer costs will be about $215 per acre, an increase of $97 from 2008. Fertilizer per acre for soybeans will cost $98, a jump of $53 from this year. The study concludes that large income losses for grain producers are likely next year if commodity prices return to their historical averages. Related Links:... [read full story]