Higher Revenues Should Come with Higher Seed Costs
For the coming year - seeds costs will increase - between five and seven-percent for corn, seven and 10-percent for soybean and more than 10-percent for wheat.
But Purdue University ag economists predict farmers will get much higher returns on their investment. Farm Business Management Specialist Alan Miller says seed supplies could be tight - especially for soybeans if more farmers switch to beans for the spring. So Miller recommends farmers place their seed orders with their dealers in the next few weeks.
While the drought is partially responsible for the increased prices - Miller says prices would have gone up even without the drought since they have gone up year after year for several years.
As long as another drought doesn't occur - Miller says farmers should have a good opportunity for profits next fall.
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