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Controlling Costs with Lower Crop Revenues: Fertilizer Costs

Summary

From 2006 to 2013, fertilizer costs rose substantially, increasing by 144% for corn and 161% for soybeans. Since September of 2013, fertilizer prices have declined, likely leading to lower fertilizer costs for into the 2014 production year. Even with these cost decreases, evaluating the level of fertilizer applications may be advisable, perhaps lowering application rates given recent price changes.