🚜 Farmers are selling their pre-purchased fertilizer at double what they paid instead of planting a crop.

Let that sink in. It is more profitable to sit out the season and flip your input costs than to put seed in the ground.

Soybean farmers lost $100 an acre last year. Corn farmers are looking at $50 to $100 losses this year. So what is the response? Switch from corn to soybeans.

Soybeans make their own nitrogen. They do not need the fertilizer corn demands.

The problem is we are already oversupplied on soybeans. More soybeans on a flooded market just drives prices lower.

Fertilizer prices have gone through the roof. The Strait of Hormuz disruptions made it worse. Farmers who locked in fertilizer early are reselling it instead of using it.

That is how broken the commodity food system has become.

🔗 AcmeAcres.us (@idahobeef)