While fertilizer prices have declined since spring, fertilizer prices remain high, and fertilizer costs are significantly higher than a year ago. Therefore, reducing rates where practicable seems prudent. Some fields will have soil test levels above those that will cause a yield response from phosphorus and potassium applications. Significantly reducing or eliminating applications in these fields is economically prudent. Moreover, nitrogen applications above university recommendations can substantially reduce returns. Changes in nitrogen prices from now to spring likely will be influenced by changes in corn and natural gas prices.
Fears of a global food crisis are mounting, as climate change impacts and supply chain blockages caused by the war in Ukraine are felt around the world.
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Ukraine has started its wartime winter harvest in the Odesa region, however, with the ongoing closure of ports and farmers’ lack of space to keep their produce, it is unlikely it will change the course of the path toward a global food crisis.