Amidst Global Market Uncertainty, FBN Releases 2022 State of Agriculture Report

Report arms farmers with the latest and most critical data ahead of planting

SAN CARLOS, Calif.--(BUSINESS WIRE)--Farmers Business Network® (FBN®) the global farmer-to-farmer network and ag tech company, today released its 2022 State of Agriculture Report.

The comprehensive report provides unparalleled insights into how Black Swan events are shaping the economic climate for agriculture, how the Russian invasion of Ukraine will impact crops, the rising prices of grain, how supply chain bottlenecks have impacted input costs, and more. This report aims to provide farmers with as much intelligence as possible so they can make the right decisions for their farm.

"This comprehensive economic report is our latest effort to put Farmers First," said Amol Deshpande, CEO and Co-Founder, FBN. "This level of insights is unparalleled in the industry, and we're proud to provide our members with research and analysis that provides growers with the transparent, unbiased information they need to make the best decisions for their operations."

The report provides extensive analysis of topics including:

• Black Swan Factors Shaping 2022: How Covid-19, price inflation, and supply chain constraints are continually shaping costs on the farm and impacting farmer decisions.
• War in the World's Breadbasket: How war in the agriculture rich Black Sea region will disrupt the commodities trade and could fuel even higher global grain prices due to limited exports from this area.
• Grain Markets on Fire: Over the past 18 months key crop prices have catapulted from injections of new demand – the report examines what is next in this prolonged bull run.
• Biofuels and Pivoting at the Pump: Policy priorities are shifting, while the growth of eclectic vehicles will likely limit ethanol's future prospects. Simultaneously, a shift to renewable diesel should bode well for US farmers, as new soybean crushing facilities come online in the next few years and will provide a strong market incentive for US farmers to plant soybeans, likely displacing some corn production.
• Inflation and Farm Cost Escalation: Fertilizer and farm chemical costs shot higher in the past 6 months as key US and international production facilities were temporarily taken offline. But since then, ongoing logistics constraints coupled with rising energy prices have kept input costs from pulling back.
• Farm Finances Expected to Fade from 2021: High farm costs will likely cut into farm profitability in 2022 after an exceptionally good year in 2021. Grain prices for 2022 crops have begun to move higher and could continue to escalate even more on war disruption in Eastern Europe, which could put farm prospects closer to the strong levels seen in 2021.

The report was authored by FBN Chief Economist Kevin McNew, PhD., and released at a press conference at the annual Commodity Classic conference.

About FBN:

Farmer’s Business Network, Inc. is an independent ag tech platform and farmer-to-farmer network with a mission to power the prosperity of family farmers around the world, while working toward a sustainable future. Its Farmers First® promise has attracted more than 33,000 members to the network with a common goal of maximizing their farms’ profit potential. FBN has set out to redefine value and convenience for farmers by helping reduce the cost of production and maximize the value of their crops.

FBN members farm more than 80 million acres in the U.S., Canada, and Australia. The company has over 800 personnel and offices in San Carlos, CA., Chicago, Ill., Sioux Falls, S.D., a Canadian headquarters in High River, Alberta, and an Australian headquarters in Perth. To learn more, visit: www.fbn.com.

*Fees may apply for certain product and service offerings other than FBN membership.

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