(Area) Corn and Soybean producers in many areas across the corn belt are reporting record yields for their operations. The high results coupled with elevated corn and soybean prices are a rare combination.
Farm Credit Board Chairman and CEO Glen Smith say farmers’ bottom lines are the best in the past 15-years; however, Smith warns of the escalating production costs for the 2022 planting season.
Smith says along with the significant rise in production costs, farm chemicals could be in short supply, particularly Glyphosate, partly because of Hurricane Ida’s destruction of a plant in Louisiana.
Smith says we are in an escalating inflationary period.
