<\/p>\n

By Penny Starr<\/p>\n\n\n\n

The Russian invasion of Ukraine has laid bare the world\u2019s dependence on Russian President Vladimir Putin and its neighbor now under siege, including the fact that the two countries supply much of the grain needs around the globe and prices for grain are now the highest they have been in six decades.<\/p>\n

This reliance has many traders worried that any further military force could trigger a massive scramble by food importers to replace supplies normally sourced from the Black Sea region,\u201d Fox Business reported<\/a>. \u201cChicago futures for grain closing 41 percent higher than the previous week at $12.09. That jump marks the biggest gain over six decades. On Monday, the price closed up for the 6th consecutive day.\u201d<\/p>\n

And prices for fertilizer are already up almost 100 percent from this time last year. According to DOW Jones data, prices for nitrogen-based Urea are up almost 99 percent and 68 percent higher for diammonium phosphate.<\/p>\n

Fox Business interviewed Ryck Suydam, a farmer who said he paid $17,000 to fertilize his 300-acre farm last year and that to fertilize just half of his average this year will cost $34,000.<\/p>\n

\u201cSome farmers are sitting out,\u201d Suydam said. \u201cThey\u2019ll say \u2018Never mind, I\u2019m not going to fertilize my fields this year. I know before I even plant a crop I\u2019m going to lose money. Why am I doing it?\u2019 They\u2019ll let the fields go fallow.\u201d<\/p>\n

\u201cSuydam said that to solve the fertilizer crunch, the U.S. needs to increase production of natural gas, which makes its byproduct, nitrogen, more affordable and readily available,\u201d Fox News reported.<\/p>\n

\u201cWe\u2019ve got a lot of natural gas in this country,\u201d Suydam said. \u201cOpen the gates, the pipeline, you\u2019re sure to get more natural gas flowing, bring that price down and more fertilizer [will] be available.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

By Penny Starr The Russian invasion of Ukraine has laid bare the world\u2019s dependence on Russian President Vladimir Putin and its neighbor now under siege, including the fact that the two countries supply much of the grain needs around the globe and prices for grain are now the highest they have been in six decades. […]<\/p>\n","protected":false},"author":2,"featured_media":2587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3,25],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/jimmyschmidt.com\/wp-content\/uploads\/2022\/03\/DEABE1E9-AB62-4CD6-8713-7E2713C75615.jpeg?fit=640%2C480","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p82DZ0-FH","_links":{"self":[{"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2585"}],"collection":[{"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/comments?post=2585"}],"version-history":[{"count":1,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2585\/revisions"}],"predecessor-version":[{"id":2588,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2585\/revisions\/2588"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/media\/2587"}],"wp:attachment":[{"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/media?parent=2585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/categories?post=2585"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/tags?post=2585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}