I want to share a news release from the Purdue Ag Economics Department. In it, Alan Miller discusses the prospect for reduced input costs for the 2014 crop year. As has been the trend, with lower commodity prices comes some reduction of inputs. In particular fertilizer costs are down and Miller believes these may continue to drop. Fuel costs should also be down so long as the Middle East is relatively calm.
Of course this isn't true for everything. Pesticide and seed costs look to stay flat or slightly increase and the latest Purdue Cash Rent and Land Values Survey shows no sign of a reduction in the cost of land in the short term.
See the following link for the complete article: 2013 A Transition Year for Grain Farmers
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