Strong Corn Prices Come at a Cost

Sep 07, 2021

Soybeans could pencil out a profit of $150 per acre next year, substantially more than corn, with an average price of $12.35 per bushel. The big difference: Farmers who grow corn will spend three times as much on fertilizer this season.

Sinclair said the last time fertilizer prices spiked like this was in 2008, but prices fell back the following year.

“Will we see a similar reality check for corn and fertilizer prices in 2022? I think it might take until 2023 before prices come back down,” Sinclair said. “World ending stocks are so low, it may take another year to build up a safety net of grain stocks.”

Kansas City Federal Reserve ag economist Nathan Kauffman said input costs are often quick to catch up to higher commodity prices but slow to come back down.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.