Matt Bennett, a seventh-generation farmer from Shelby County, Illinois delves into the complexities of the 2024 growing season. Reflecting on the profitable years of 2021 and 2022, Bennett explains how the sharp rise of input costs created challenges for his operation the last two years.
“Higher input costs have certainly cut into our bottom line. However, moving forward I feel strongly that input costs for the 2025 crops are going to come down. Fertilizer has come off its highs, so unless we have some sort of world disruption, we are going to see the 2025 crop go into the ground cheaper than what the 2024 crop is. That will be a needed relief that producers are going to be looking for.”
In the video, Bennett also addresses the economic uncertainties and market conditions that have influenced his decision-making process, offering valuable insights for fellow growers navigating similar challenges.
“One of the biggest opportunities for 2024, the grower gets a chance to get better at what they do. This is a challenging environment we are in. Weather has been challenging, the markets have been challenging, profit margins have been challenging. So, growers are embracing risk management more than ever.”
Watch Bennett’s full remarks in the video above.
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