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Farmers answering the DTN/The Progressive Farmer Agriculture Confidence Index survey are happy with current conditions but show increasing concern for the future as input costs and inflation increases.
“The current situation clearly demonstrates the need for more resilient food supply chains,” Norway based fertilizer and natural gas company Yara warned.
DAP Tampa Fertilizer Index has nearly doubled since the start of the year. Patton said the recent cold weather bogged down truck, rail, and barge transportation networks across the Midwest. This led to challenges for transportation networks to haul fertilizer from ports to Midwest areas. She said supplies were "already low or depleted" ahead of the winter season. Demand for fertilizer began to ramp higher in late 2020 as farmers became optimistic about the 2021 growing season with futures prices of agri commodities rising. "Many farmers capitalized on lower fertilizer prices back then a...