Things are getting tougher for the nation’s breadbasket, a predicament that will likely ripple through the nation’s economy.
In addition to 40-year-high inflation and new records set nearly every day at the gasoline pump the past two weeks, the price of some agricultural fertilizers has skyrocketed as much as 60 percent over last year’s prices.
“An average 2,500-acre corn and soybean farm has seen their fertilizer bill increase $175,000 in the last year alone from $250,000 to $425,000,” Loren Koeman, lead economist/manager Industry, Conservation, and Regulatory Relations for the Michigan Farm Bureau, told The Center Square.
That’s extremely bad news for farmers, but as well grocery store customers who purchase such dietary staples as meat, dairy and bread….