Production costs seen rising 30 percent by 2009

Sep 12, 2008
U.S. farmers will have to spend roughly 30 percent more next spring to plant corn and soybeans due to soaring energy prices driving up the cost of fertilizer, according to a University of Illinois study. As a result, consumers will likely pay higher prices for everything from bread to milk to meat. The cost to plant corn next spring will be $529 per acre, up 36 percent from 2008 and up 85 percent from the five-year average $286 per acre, said Gary Schnitkey, an agricultural economist who con...

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