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Market Forces at Play in Producing the 2012 Crop Alan Miller Craig Dobbins Bruce Erickson Purdue University is an Equal Opportunity/Equal Access institution.

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Presentation on theme: "Market Forces at Play in Producing the 2012 Crop Alan Miller Craig Dobbins Bruce Erickson Purdue University is an Equal Opportunity/Equal Access institution."— Presentation transcript:

1 Market Forces at Play in Producing the 2012 Crop Alan Miller Craig Dobbins Bruce Erickson Purdue University is an Equal Opportunity/Equal Access institution.

2 Major Inputs for Crops Fertilizers Seeds Pesticides Fuel (machinery operation, crop drying) Machinery Labor 2

3 From Roller Coaster to Merry Go Round, Inputs Costs Rising 3

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6 2012 Outlook6 Fertilizer Use By Region, 2010 Fertecon

7 2012 Outlook7 Potash Corp

8 2012 Outlook8 Nitrogen Fertilizer Plant in Trinidad Courtesy PCS Sales

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14 2012 Outlook14 Phosphorus Mining in Florida http://www.nytimes.com/2007/08/04/us/04phosphates.htmlhttp://www.nytimes.com/2007/08/04/us/04phosphates.html and http://upload.wikimedia.org/wikipedia/commons/e/ef/Togo_phosphates_mining.jpg

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17 2012 Outlook17 Mining Potassium Deposits in Canada

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22 Nitrogen/Corn Price Ratios from Purdue Budgets Year N Price $/lb Corn Price $/bu Ratio N price/Corn price 2005.262.12.12 2006.342.31.15 2007.283.71.07 2008.465.00.09 2009.494.00.12 2010.304.20.07 2011.495.54.09 2012 Est.545.90.09

23 23 What is New in Seeds/Genetics New genetics/traits drive pricing Refuge in a bag Technology fees are dominating factor Tough conditions for seed production in some areas

24 Indiana Seed Price Trends 24

25 Corn Seed Cost/Gross Revenue from Purdue Budgets Year Seed Corn Cost $/A Corn Gross Revenue $/A Ratio Seed Cost/Revenue 200534303.11 200635340.10 200743581.07 200879785.10 200989632.14 201094668.14 201199892.11 2012 Est118950.12

26 Soybean Seed Cost/Gross Revenue from Purdue Budgets Year Seed Soybean Cost $/A Soybean Gross Revenue $/A Ratio Cost/Revenue 200536241.15 200637270.14 200739375.10 200848608.08 200952426.12 201052470.11 201159643.09 2012 Est73608.12

27 2012 Outlook27 20072008200920102011 Glyphosate (Roundup) Herbicide$29$40$43$23$17 Sethoxydim (Poast) Herbicide$74$73$83$81$83 2,4-D Herbicide$16$17$19$18 Terbufos (Counter) Insecticide (lb)$2.32$2.53$2.46$2.64$2.73 Chlorothalonil (Bravo) Insecticide$47$48$60$50$41 Price Trends of Individual Pesticides (price per gal unless noted) NASS Agricultural Prices, http://usda.mannlib.cornell.edu/usda/nass/AgriPric//2010s/2011/AgriPric-04-29-2011.pdff

28 2012 Outlook28 Sprayer Nozzle and Boom Control

29 2012 Outlook29 Planter Clutches http://www.trucount.com/Photo-Gallery.aspx

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