2021 Fall Farm

Page 22 2021 Logan County Fall Farm Outlook Lincoln Daily News Oct. - Nov. 2021 he costs of agricultural inputs have been rising over the past few years. This upward trend is expected to continue in 2022, which could have adverse effects on farm budgets. Major inputs being impacted by increased costs include seed, crop chemicals, equipment, labor and land. Rising prices are a cause for concern in the agricultural industry. In July 2021 the Purdue University/CME Group Ag Economy Barometer, which surveys agricultural producers each month, shared its mid-year findings. CME’s principal investigator James Mintert said, “Farmers expect their input costs to rise much more rapidly in the year ahead than they have over the last decade, contributing to their concerns about their farm finances and financial future.” Reasons for input costs rising A variety of factors have led to rising input costs. For example, higher yields of corn and soybeans leads to higher seed prices. As farmers plant more acres, there is more demand for seed, which results in high prices for feed commodities. Soaring prices on new and used equipment used in the fields also contribute to escalating costs. Technological advancements and equipment maintenance are part of the issues. Getting the parts to fix the tractors can be a problem due to Cost of BY ANGELA REINERS inputs continue to RISE OST of Continue 4 T agricultural