Increased oil and natural gas prices triggered by tensions between Russia and Ukraine are adding pressure to ag input prices.
University of Illinois ag economist Gary Schnitkey tells Brownfield Russia is a major supplier of oil and natural gas to western Europe and the US is helping fill that void.
“So we are seeing changes in the way energy moves and that is not helping our energy prices obviously, and will likely keep our inputs at higher levels.”
He says the price of fertilizers like nitrogen, DAP and potash are usually influenced by energy markets.
