(ZEROHEDGE) – Fertilizer prices are at record highs following Russia’s invasion of Ukraine puts massive pressure on American farmers to transition to crops that need less fertilizer.
A Bloomberg survey found that farmers will plant 2 million more acres of soybeans and about 2 million fewer of corn. That’s because soybeans require very little fertilizer versus corn.
Farmer Tim Gregerson of Omaha, Nebraska, said he’ll plant more soybeans this year because “fertilizer is out of control.” He said fertilizer prices spiked even before the Russian invasion, and it was then he decided to reduce the corn-to-soy ratio to about 50-50 this upcoming growing season.
