IL Corn Growers Association Monitoring Fertilizer Tariffs and 2024 Crop Budgets

Jan 22, 2024

By Lindsay Mitchell

Last week, the US Department of Commerce set a tax of 7.41% on imports of phosphate fertilizer from Morocco and Russia, which is a decrease from the previous rate of 19.97%. The International Trade Commission also decided Wednesday night to maintain their initial determination that domestic industries suffered material harm from Moroccan imports. While Commerce’s new rate is a positive step, it’s higher than the 2.12% recommended in the administrative review.

"Fertilizers represent a major cost of production for corn farmers, so we’ve been advocating for more competition in the marketplace,” said Dave Rylander, ICGA President and farmer. “These high import taxes imposed by the federal government are ultimately paid by the end user – farmers - so we’re very concerned about this decision. We will continue working to lower input costs where we can and want our corn farmers to know that their profitability is a top concern for us.”

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. Fertilizer costs are estimated to represent about 35% of direct farm expenses. High input costs coupled with lower prices will have drastic impacts for farmers.

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Video: Fendt Testimonial | Fendt 726 Vario Gen7 | Peter Watson Jones Ltd.

What happens when a farm buys its first Fendt? For Peter Watson Jones Ltd, the Fendt 726 Vario Gen7 has exceeded expectations from day one. For Jack, Farm Manager at Peter Watson Jones Ltd in North Shropshire, UK, the Fendt 726 Vario Gen7 wasn't just another tractor purchase. It was the farm's first experience with the Fendt brand.

Operating across a 1,200-acre arable farm alongside a 250,000-head broiler enterprise, the business has evolved significantly over the last decade, moving to a straight arable system with fewer staff and machines. Since arriving on the farm, the Fendt 726 Vario has established itself as the main drilling and cultivations tractor, earning its place through performance, versatility and efficiency. Whether it's handling large-scale cultivations or working with a new 4.5m strip-till drill, the tractor continues to impress.

Jack highlights its excellent manoeuvrability, operator comfort and ability to deliver strong pulling power at low engine speeds. The result? Outstanding fuel efficiency without compromising performance. Reliability has also been a key factor, with dependable backup from the team at TR Machinery helping to keep the tractor working when it matters most.

?? Watch as Jack shares why the Fendt 726 Vario Gen7, the farm's first Fendt, has made such a strong impression and become an integral part of their operation.