In addition to nitrogen (n), p and potassium (k), corn is very responsive to sulfur (s) and zinc (zn).Expect more acres planted to soybeans and fewer acres planted to corn and wheat.
Also, a higher corn price (relative to.High input costs coupled with lower prices will have drastic impacts for farmers.Also last week, the university of illinois's farmdoc published a revised 2024 crop budget report showing negative average returns for farmers in all regions in illinois.
Rotations are expected to remain consistent throughout the corn belt, but bigger losses are expected outside of that region, particularly in areas where fall 2023 fertilizer prices may have been more expensive and/or less available.The earlier planted corn fields started to tassel late last week, and soybeans are at r1.
The usda says as of june 30, 11% of the 2024 corn crop is silking across 13 of the top 18 growing states.Nitrogen is essential for leaf and stem development, phosphorus promotes root growth and flowering, while potassium aids in overall plant health and disease resistance.The remaining six fertilizers were slightly more expensive compared to last month.
Uan32 was 5% higher in price compared to last month with an average price of $417 per ton.Key nutrients for corn growth.
Thus higher corn prices lead to more nitrogen fertilizer per corn acre (i.e., increased demand of nitrogen fertilizer).Arkansas and missouri farmers experienced weather variability, stalled planting progress.Corn requires three primary nutrients for healthy growth:
Costs jumped to an average of $225.78 per acre in 2022, and then fell to an estimated $186.73 in 2023.