While Brent Judisch is in the midst of combining his 2025 corn and soybeans, he’s also thinking about how to plan for next year’s crops and inputs specifically.
“Fertilizer prices will kind of mirror your corn prices usually, but right now they’re going opposite directions. That’s not something we can handle going forward on the farm, with the costs going up and income going down,” says Judisch, who farms in Black Hawk County, Iowa.
Price Trends For N, P And K This Year
Mark Tully, senior manager, global market research for Nutrien, tells Farm Journal wholesale nitrogen (N) fertilizer prices are up between 25% and 45%, depending on the product.
The increases are due to unexpected global supply constraints in 2025. “This trend is being driven by conflict in Europe, Middle East, and trade restrictions from China, which have all impacted production and export availability,” Tully says.
Phosphorus (P) and potassium (K) have also trended up this year. Tully reports wholesale phosphate fertilizer prices are up between 20% and 40% depending on the product, while wholesale potash prices are up about 15% from 2024 levels.
National Corn Growers Association (NCGA) projections indicate fertilizer expenditures alone could account for 36% of a corn grower’s operating costs in 2025, with little to no relief expected for 2026.
“Looking ahead to next year, [input costs] look to be going a little higher,” predicts Krista Swanson, chief economist for the NCGA. She says inputs for corn have totaled about $900 an acre annually for the past four years.
Trusted Advisers Can Help With Input Decisions
As farmers grapple with input decisions, Ken Ferrie encourages farmers to lean on their agronomists and other trusted advisers to help think through the process of where to allocate resources while still maintaining targeted yield outcomes.
For example, at current input prices, Ferrie says a corn grower might save $85 an acre by managing nitrogen more efficiently ($35), varying population according to soil type ($20) and switching to a non-GMO hybrid ($30).
“But you have to do your homework before you make these kinds of decisions or yields could potentially fall off a cliff, leaving your balance sheet in worse shape than if you’d made no change,” he cautions.
Judisch is looking to address higher input costs next year by trimming rates where soil fertility levels will allow him to pull back.
“I think we’ll probably trim back our phosphate usage [for corn] a little bit, but we’ll still go forward with potash, and you’ve got to have nitrogen. You really can’t cut there,” Judisch says.
Evaluate Purchasing Options Early For The Best Terms
Josh Linville, vice president of fertilizer for StoneX has been encouraging farmers planning to make fall anhydrous ammonia (NH3) applications to contact their suppliers now to lock in product.
While there is a good supply of NH3 in the pipeline currently, Linville is concerned the expected high demand could deplete its ready availability and lead to increased costs.
“I do think the prices will hold to push higher,” he says.
The best time for growers to contact suppliers to discuss 2026 availability and pricing of fertilizer, seed and other inputs is now, according to Jordan Howe, area manager for Nutrien Financial.
“Have an open conversation with your input providers, and explore options of early buying habits that could put you in a better position or help you capture a discount that maybe you haven’t in the past,” he says.
Howe encourages farmers to not shy away from asking questions of loan officers or financing institutions and read the fine print on any written agreement. Two key questions he recommends asking:
1. What is the price of the input if I want to pay for it in cash versus financing it?
2. If I opt to finance, what type of interest rate am I being offered – is it a fixed rate or a floating rate?
“I am seeing a lot ofunique financing opportunities out there where it might be a low, good rate early, but then it matures and turns into a much higher rate. You’ll want to consider whether you would be able to pay that off before it goes to the higher rate,” Howe says
He adds that being able to pay cash for some portion of your input needs can help you leverage your buying power to get the most competitive financing offers for the balance.
Don’t Forget To Consider Your Tax Implications
In the process of purchasing inputs for next season, keep in mind the potential taxes on products, recommends Jonathan LaPorte, Michigan State University farm business management educator.
“As you plan purchases, remember to maintain flexibility to maximize tax savings this year and next. Don’t overspend this year to save on inputs only to pay more income taxes next year,” he advises.
LaPorte offers an online Input Purchasing Plan Template in Word and Microsoft Excel to help farmers run different scenarios on input purchases based on their cropping plan for the year ahead. The template is available here.
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