2021 Fall Farm

2021 Logan County Fall Farm Outlook Lincoln Daily News Oct. - Nov. 2021 Page 23 transportation and supply chain issues. Higher diesel prices have driven up fuel and oil expenses used for the equipment. Increases in minimum wage have driven up costs for hired labor. Increased supply chain issues during the pandemic have led to shrinking inventory and shortages of products in many sectors. The fertilizer market has been especially impacted. Labor shortages in companies transporting fertilizer add to the supply chain issues and increased costs. Higher raw material, energy and freight costs are other factors contributing to the higher costs of chemicals. Additionally, many sources say the chemical market has been affected by shortages of glysophate, sanctions on producers of potash and China halting phosphate exports. These factors are projected to continue having an affect on prices into 2022. Results of rising input costs The rising input costs have had several adverse impacts that cause concern for farmers. The affect of higher costs and their impact on 2022 crop budgets is one area of concern. These costs were projected in a July 2021 FarmdocDaily report by Ag Economists Gary Schnitkey, Krista Swanson, Nick Paulson and Carl Zulauf. One of the predictions is that “non-land costs for 2022 corn and soybean production are projected to be at all-time highs. “For corn, total non-land costs in 2022 are anticipated to be $677 per acre, which is a $70 per acre increase from the $607 per acre in 2021. For soybeans, total non-land costs in 2022 are expected to be $413 per acre, which is a $42 per acre increase from the $378 per acre in 2021.” Summary findings from the USDA’s September outlook provide additional predictions on rising costs and their results: • Feed expenses “are forecast to increase by $6.2 billion (11.0 %) in nominal terms Continue 4