Majority of Farmers Polled Have Locked in 2023 Inputs

With higher-than-average costs and spring planting on the horizon, farmers are locking in their 2023 input needs.  
Of the farmers responding to the January Purdue Ag Economy Barometer, 45% cited higher input costs as their top concern in 2023. 

Did that translate into earlier bookings of input costs? Following are the results of a trio of AgWeb.com polls. Farmers answered how much of their seed, fertilizer and chemical needs they have locked in for 2023.

The data shows 76% of farmers have locked in 81% to 100% of their seed needs; 62% have locked in 81% to 100% of their fertilizer needs; and 58% have locked in 81% to 100% of their chemical needs.

EDITOR’S TAKE:

Farmers/ranchers are keen observers of markets and trends that impact their operations. It is not surprising that in inflationary and uncertain times that they would lock in their inputs and cost structure for the year. This also allows them to better plan their marketing strategies and lock in profits when the prices are right.

As reported numerous times in the AIR, we expect 2023 to be another very good year financially for farmers/ranchers across the country. Locking in the input availability and costs is just another sign that can help make those predictions a reality. In addition, warmer than normal weather in key production areas will allow them to get crops in sooner, which can enhance yields at harvest time.

Assuming things work out as predicted, now is an ideal time to put your inventory on AgTruckTrader.com. That way, as farmers/ranchers are using their auto steer equipment they can also be searching for that new or qualified used truck they want to purchase from you!