13 March 2022, Ukraine: A lot has happened in the 3 short months of 2022. That’s why we felt it was important to take a look at the state of agriculture in 2022 to see what events led us to where we are today and where we’re headed in the future.
This report is meant to bring more transparency to agriculture and help farmers make knowledgeable decisions for their operations.
Watch Kevin McNew, FBN®’s Chief Economist talk briefly about what you can expect in this report and the impact it will have on farmers and agriculture in the coming year.
How did we get here?
COVID-19 and supply chain issues
Both issues have led to increased chemical and fertilizer prices along with other factors that have made it challenging for farmers to source necessary crop inputs.
Historic consumer and commodity price inflation
With food price inflation at the highest it’s been in over 40 years, key crop prices have spiked due to demand and drought-induced supply shortfalls.
War outbreak in Ukraine
The war in Ukraine affects wheat markets as both countries account for 13% of global wheat production and 30% of international wheat trade. Without a quick resolution to this conflict, global grain prices will continue to rise.
Key Farmer Takeaways
Looking to the future, what can farmers expect for the state of ag in 2022? Based on our report, there are a few key takeaways farmers should keep in mind.
- Grain markets will smash record highs in 2022
- U.S. acreage shift not likely to derail price strength
- Biofuels will provide short and long-game effects to agriculture growth
- Farmers will face rising costs and see limited profit growth.
Understand the justification for those takeaways and get our full analysis by downloading this free special report below.