Author: marrison.2

Be OSU Extension’s Valentine by attending the Coffee and Grain Marketing Zoom on February 14 at 7:30 a.m.

OSU Extension invites grain producers and industry personnel to attend the quarterly grain market conversation with Dr. Seungki Lee, Assistant Professor in the Department of Agricultural, Environmental and Development Economics (AEDE) on Friday, February 14  from 7:30 – 8:00 a.m.

During this Zoom webinar, Dr. Lee will provide his insights on the February 2025 World Agricultural Supply and Demand Estimates (WASDE) Crop Report which is scheduled to be released on February 11. This early morning webinar will be a great way for Ohio farmers to learn more about the factors impacting the corn, soybean, and wheat markets. Attend to see which sectors which are indicating bearish forecasts for the markets. Producers are encouraged to bring their questions to this early morning conversation.

CoffeewithSeungkiLee2025-final

There is no fee to attend this quarterly webinar session. Pre-registration can be made at go.osu.edu/coffeewithDrLee

These webinars are sponsored by: OSU Extension, Farm Financial Management & Policy Institute (FFMPI), and Department of Agricultural, Environmental and Development Economics (AEDE).

 

February Ag Outlook and Policy Meetings

We are firmly in the middle of meeting season with plenty of opportunities to learn more coming up in February. The Regional Agricultural Outlook and Policy Meetings hosted by Ohio State University Extension continues to roll with 3 more offerings left.

Each meeting brings together specialists from OSU’s Department of Agricultural, Environmental, and Development Economics, OSU Extension, and invited guests to present on their expertise. Programs will cover a wide variety of topics like inputs outlook, weather outlook, grain marketing, dairy and beef outlook, farm business analysis, and energy outlook. The agenda will differ for each meeting so be sure to check with the county on what topics they will be covering.

The final programs are hosted by Allen County, Mercer County, and a joint meeting hosted by Union, Madison, and Champaign Counties. If you are from a host county or a neighboring county be sure to check below for more information on the program nearest you.

Feb. 11, Allen County: Youth Activities Building on the Allen County Fairgrounds. 2750 Harding Hwy, Lima, Ohio from 9 am – 3 pm. Register by Feb 4th: Call the Allen County office at 419-879-9108.

Feb. 21, Union, Madison, and Champaign Counties: Champaign County Community Center Auditorium, 1512 South US Hwy 68, Urbana, OH 43078 from 8:30 am- 12:00 pm. Register by Feb. 12th: Visit go.osu.edu/TriCountyOutlook.

Feb. 28, Mercer County: Mercer County Agricultural Center 4978 Mud Pike Road Celina, Ohio 45822 from 9 am – 1 pm. Attendance is limited to 40 attendees. Register by Feb. 21st: Visit go.osu.edu/merceragoutlook.

Managing Talent for Success: Today and Tomorrow

Published as part of the Farm Financial Management and Policy Institute’s Manager’s Library Series

Written by:

Jay Akridge, Trustee Chair, Teaching and Learning Excellence and Professor, Department of Agricultural Economics, Purdue University
John Foltz, Professor Emeritus, The Ohio State University; and Dean Emeritus, College of Agricultural and Life Sciences
Allan Gray, Executive Director, Center for Food and Agricultural Business, Department of Agricultural Economics, Purdue University
Margaret Jodlowski, Assistant Professor, Department of Agricultural, Environmental, and Development Economics, The Ohio State University

Leading a successful farm or agribusiness today is no small task. With the challenges of weather, commodity prices, a world economy affected by regional wars and crises, and a contentious political process that has offered few real solutions, planning for the future can sound like a pipe dream. Despite these challenges, many would argue that these are still heady times for agriculture, with promising new technologies and prospective new markets, such as the sustained increases in the global demand for animal protein. Agriculture has a promising role in meeting well-known global challenges:

  • meeting the caloric and nutritional needs of nine billion people
  • addressing energy security issues
  • providing substitutes for petroleum-based industrial products

These challenges require farms to learn a balancing act of achieving each challenge without dramatically increasing acreage while also managing environmental impacts and resource utilization.

But no matter how positive the long-term story is for the industry, individual firms must survive (and thrive) in the short run. Balancing the need to adapt for the long-term with the need to execute in the short run is not easy. The dynamic capabilities theory describes how firms’ future decisions are shaped by their previous ones; adaptation to changing business climates, innovation by competitors, or new market dynamics is made more difficult by this chosen trajectory (Teece, 2016). Empirical research confirms this challenge. In a long-term study of firm performance, only 5% of more than 6,000 firms were able to deliver superior performance for at least 10 years. Most firms delivered strong performances in short bursts but lost their edge when the business environment shifted (Beinhocker, 2006).

Why is it so difficult to balance execution and innovation? Part of the story is that these managerial functions demand different skills. Think about the characteristics of a successful innovator. What comes to mind? You might think of flexibility, creativity, and a willingness to take risks. Innovators fill their time with research, experiments, and pilot projects. On the other hand, when you think of a firm known as a great executor, their characteristics are more along the lines of focus, efficiency, and process-orientation. Their time is spent considering standardization, limiting choice, and expanding via scale rather than novelty. Understanding the capabilities and activities of an innovator versus an executor illuminates the challenge of excelling in both managerial functions.

In his article, Beinhocker takes a deeper look, suggesting that one reason innovation for the future is hard is what he calls the double-edged nature of experience. As managers grow, they accumulate experience. Drawing on this experience guides managers in new situations, especially when the new situation is similar to past situations. In unprecedented times where factors are different, however, past experience can become a burden. Recalling what worked in the past can limit creativity, resulting in managers wasting time and struggling to apply lessons from their accumulated experience to situations where they do not fit.

Another reality that prevents the emergence of transformational leadership is what management scholars call path dependence. The idea is simple—who the manager or firm is affects who or what the manager or firm can be. This can be identified in practical, logistical ways. For instance, if a manager operates a string of country grain elevators scattered over part of their state, those physical assets can determine their future strategy. It can also shape a firms’ psychologically based intangible assets, such as reputation or style. Of course, it is certainly true that given enough time and money, anything can be changed. However, for most organizations, path dependence does result in real and imagined limits on what managers can and cannot do to adapt to an evolving marketplace.

While challenging, the idea of doing things right today to create a foundation that takes advantage of promising opportunities tomorrow should be a fundamental goal of successful farm and agribusiness firms. Ultimately, balancing these occasionally competing goals comes down to human talent. What can you do as a leader in your organization to ensure your team is not only successful today, but also in the future? Let’s take a look at some ways you can help your team be great today and tomorrow.

Talent Makes a Difference

Every leader of a successful farm or agribusiness firm understands the importance of great talent. A McKinsey study (Axelrod, et al., 2001) examined what great people mean to an organization in financial terms. The difference in impact generated by the top 20% of a firm’s employees versus its average employees is staggering. The top 20% of employees in operational roles boost productivity 40% over average employees. For general managers, the top 20% increase profitability 49% over their average counterparts, while the top 20% of those working in sales generate 67% more revenue than average employees. Recognizing and rewarding the value your top people deliver is key because their impact goes well above and beyond their less talented or less dedicated coworkers.

The Survey: What Skills are Valued in an Agribusiness Firm?

We turn now to a survey about the desired skills and capabilities of leaders in agribusiness and how these results can help your team manage business today and tomorrow.

Fifty-nine CEOs of cooperatives responded to a survey focused on key success factors for the future and on the necessary leadership competencies for their employees to be successful in the future. These CEOs came primarily from Corn Belt and High Plains states, with some from the Mid-South and South. The study was conducted by the Center for Food and Agricultural Business at Purdue University in partnership with Land O’Lakes Cooperative. For more information on the survey, contact Allan Gray, gray@purdue.edu, 765-434-4323 at the Center for Food and Agricultural Business.

While the survey explored several issues, our focus is on leadership competencies needed by senior management to effectively lead organizations in the future. Based on a review of previous work in this area, the leadership consulting firm PDI Ninth House developed a set of four general leadership competencies:

  1. Thought Leadership: Using insightful judgment, applying financial acumen, innovative thinking, displaying a global perspective, and thinking strategically.
  2. Results Leadership: Focus on customers, lead courageously, driving for results, and ensuring execution.
  3. People Leadership: Building relationships, promoting collaboration, influencing others, building talent, and engaging and inspiring others.
  4. Personal Leadership: Inspiring trust and adapting and learning.

The cooperative CEOs were asked to rank these four capabilities from least important to most important  based on how they contributed to making a senior management team member an effective leader in the future. Before reading on, ask how you would rank these four items in terms of importance for your leadership team or yourself as a leader. What you believe to be important for senior leaders in your organization will say a lot about who you promote into these roles, how you coach and train, your definition of success, etc.

Skills and Capabilities for the Future

The 59 CEOs ranked people leadership as the most important, followed closely by results leadership. Personal leadership and thought leadership were ranked almost identically. Both were ranked substantially less important than people leadership and results leadership. What do these preliminary survey results suggest?

It is hard to argue with people leadership taking the top spot in this ranking. The competencies included under the umbrella of people leadership are important in the short-term and long-term, regardless of the size of an organization. Capabilities such as building relationships, promoting collaboration, and developing talent embrace much of what it means to be an effective and capable manager in a farm or agribusiness organization.

The fact that results leadership came in a close second and that thought leadership ranked last deserve a closer look. At some level, this suggests that the CEOs responding to the survey are managing for today and are focused on senior leaders that can execute. Given today’s uncertain and volatile environment, a focus on execution and operations seems appropriate. Nonetheless, the low value placed on thought leadership and the capabilities it includes, such as thinking strategically and innovatively, suggests that these firms may be vulnerable to the shifts of a rapidly evolving market. If the focus of the leadership team is making sure that the farm or agribusiness is operating at peak efficiency (that timeliness of crop planting or harvesting is enhanced, that crop production costs are as low as possible, etc.), who is stepping back to ask the big-picture questions about impending structural changes in the marketplace and their implications for the business?

Finding a balance here is not easy. But the senior leadership team is responsible for asking longer-term questions, that steps are being taken to adapt to an evolving future, and that strategic options are being considered. Being aware of and acknowledging the importance of today and tomorrow’s environment is the first step to integrating the transactional and transformational functions of management. Transactional management focuses on achieving specific goals. Transformational management inspires and motivates employees to go beyond expectations by creating a shared vision and fostering personal growth.

Some Thoughts

Please note that the information provided in this article does not suggest that the here and now is unimportant. As indicated earlier, any successful farm or agribusiness must be successful in the short run to operate in the long run. Your organization’s leadership team needs to ultimately be good at both managing for today and adapting for tomorrow. What can you do to cultivate such a perspective in your organization?

  • Can we do it better? Creating a leadership team that regularly asks this question can go a long way toward creating a climate of innovation and adaptation. This does not mean every idea proposed in a brainstorming session will be explored. Instead, it means that your senior team is constantly on the lookout for new and better ideas and that the organization’s culture is open to suggestions for change, as opposed to being stuck in a rut.
  • Take a look around. Make sure your team leaves the farm or office at your agribusiness to visit your customers’ businesses, industry seminars and conferences, local Chamber of Commerce events, etc. The agricultural business environment is moving fast, but so are most other sectors of the economy. Linkages between the ag and non-ag sectors of the economy are growing ever more important. Looking outside the organization into the world of your customer, suppliers, and your competitors (as well as into other industries) may spur creative thinking on the important question of “Can we do it better?”
  • Make time for the future. Make sure opportunities are created to discuss the future at your farm or agribusiness firm’s regular meetings, planning sessions, retreats, etc. Don’t worry about carving out space for the short-run—you will naturally spend plenty of time in meetings on questions like, “How do we get through the next few weeks (or months)?” Dedicate time to big picture questions like “What changes do we need to make today to be successful in five years?”
    If you do not make time to discuss big picture questions, they will not come up.
  • Invest in professional development. Sending key employees and/or managers to professional development programs intended to extend their planning horizon, build planning and innovating skills, and hone strategic decision-making can be a great investment. This is especially true when you ask them to report on their experiences at a staff meeting. Such a report can be a great way to kick off some of the discussions outlined above.
  • Coach for the future. The President/CEO/general manager can support a longer run perspective by reinforcing the ideas reviewed previously whenever an opportunity arises. Some managers will have more skill here than others. And, frankly, those who will move to the top of your organization will need both innovator and executor skills. So, how your folks respond to coaching, and which managers can begin to balance the short- and long-run, will provide great insight into who could someday take your place.

Upshot

Getting through the next harvest, or the next downturn or upturn in prices, or the next competitor initiative can absorb every bit of an organization’s managerial brainpower. The most successful farm and agribusiness organizations find a way to reserve managerial talent to maintain investments in longer-term questions. Take a few minutes and assess the kinds of conversations you have in your organization. Are they focused only on tomorrow (or next week, or next month) or do you find time to talk about the next three years or even the very next year? Are your people not only working hard to execute your processes and procedures, but also feeling confident and comfortable in suggesting how those processes can be improved? Dynamic and successful farm and agribusiness firms will certainly be successful at getting it done right day in and day out. What sets them apart is that they will also keep their managerial talent focused on adapting to whatever tomorrow brings. As John Wooden, UCLA’s legendary basketball coach (and a Purdue University alumnus!) once said, “Things turn out best for the people who make the best of the way things turn out.” Embodying that adaptative and responsive attitude may be the best way to pivot your organization and its people towards sustained future success.

Additional Resources

Portions of this publication were originally published by WATT Global Media in Feed and Grain Magazine at:
feedandgrain.com/grain-handling-processing/grain-facility-management/article/15401687/managing-talent-for-success-today-and-tomorrow

References

Axelrod, E., Handfield-Jones, H., Welsh, T. (2001). The war for talent, part two. McKinsey Quarterly.
abebooks.com/9781578514595/Talent-Michaels-Handfield-Jones-Helen-Axelrod-1578514592/plp

Beinhocker, E. D. (2006). The origins of wealth: Evolution, complexity, and the radical remaking of economics. Harvard Business Press.
scirp.org/reference/referencespapers?referenceid=2369900

Teece, D. J. (2016). Dynamic capabilities and entrepreneurial management in large organizations: Toward a theory of the (entrepreneurial) firm. European Economic Review, 86, 202–216.
doi.org/10.1016/j.euroecorev.2015.11.006

What might be the impact on agriculture of 25 percent tariffs targeted at Canadian and Mexican Imports?  

By:  Ian Sheldon, Professor and Andersons Chair of Agricultural Marketing, Trade, and Policy, Agricultural, Environmental, and Development Economics, Ohio State University and Chris Zoller, Interim Assistant Director Agriculture & Natural Resources (ANR) Professor and Extension Educator, ANR Ohio State University Extension – Tuscarawas County

First Trade Policy Announcement(s) by the New Administration 

Both before and after the 2024 presidential election, the trade policy community has been speculating about and discussing the likely economic impact of tariffs an incoming administration might implement once in office.  With the inauguration of President Trump on January 20, we now have the first view of what could be in store for US trade policy.  Specifically, while new tariffs have not been imposed immediately, the President indicated the possibility that 25 percent tariffs would be applied to imports from Canada and Mexico as of February 1 (Reuters, January 20, 2025).  Surprisingly, the much talked of hike in tariffs to 60 percent on all imports from China, and a 10 percent tariff on imports from the rest-of-the-world, have yet to be announced, the President instead ordering the Office of the US Trade Representative (USTR) to investigate unfair trading practices globally, and whether China complied with the US-China Phase 1 Trade Agreement signed in 2020 (Bloomberg, January 20, 2025).

Potential Impact of Tariffs on US Agricultural Sector

With the integrated agricultural market that has evolved under the North American Free Trade Agreement (NAFTA), and its renegotiated successor the US-Mexico-Canada-Agreement (USMCA), it should come as no surprise that Mexico and Canada are the top-two US agricultural export markets at $29.9 and $29.2 billion respectively (USDA/FAS, Outlook for US Agricultural Trade, November 2024).  Given the importance of these two markets to US farmers, and also in light of the declining US share of China’s imports of feed grains and soybeans (Glauber, IFPRI, December 2024), a trade war between USMCA members has the potential to have a serious impact on future US farm incomes. However, any analysis of the impact of such tariffs is an exercise in economic forecasting, and will also depend on the extent to which Mexico and Canada choose to retaliate, although Canada has already indicated it will respond in kind (Associated Press, January 20, 2026).

Agricultural economists at North Dakota State University have recently analyzed various US tariff scenarios (Steinbach et al., farmdoc, and Food Policy, 2024), which they have updated to include the impact of 25 percent tariffs against Canada and Mexico (Steinbach et al., CAPTS, 2024).  Their analysis focuses on the potential export market losses in 2025 for 11 agricultural commodities, using baseline export projections for 2025 from the World Agricultural Board’s (WAOB) demand and supply estimates (WAOB, 2024). The sensitivity of US agricultural exports to the imposition of foreign tariffs is based on published estimates from the 2018/19 trade wear (Grant et al., Applied Economic Perspectives and Policy, 2021).

In the following table, three scenarios are reported for five commodities: soybeans, corn, dairy products, beef and beef products, and pork and pork products, along with total projected losses for the US agricultural sector.   Scenario 1 assumes 25 percent US tariffs on Canadian imports are met with 25 percent Canadian tariffs on US imports; Scenario 2 assumes 25 percent US tariffs on Mexican imports are met with 25 percent Mexican tariffs on US imports; and Scenario 3 combines Scenarios 1 and 3 with tit-for-tat additional US/Chinese tariffs of 10 percent.  The latter scenario is included here given President Trump has also signaled he will introduce an additional 10 percent tariff on imports from China as of February 1 (Guardian, January 22, 2025).

             Forecast Export Losses in 2025 by Commodity (US $ billions)
Commodity Scenario 1:  US/Canada levy tariffs of 25% Scenario 2:  US/Mexico levy tariffs of 25% Scenario 3: US/Canada/Mexico levy tariffs of 25%  US/China levy tariffs of 10%
Soybeans -0.12 -1.68 -5.60
Corn -0.31 -2.04 -2.90
Dairy Products -0.42 -0.99 -1.54
Beef & Beef Products -0.27 -0.29 -0.73

Pork & Pork Products

 -0.29 -0.59 -1.09
Wheat -0.03 -0.91 -1.11
 

Total Losses

  

-15.7

  

-14.1

-36.9

   Source: Steinbach et al., 2024

While the total forecast losses to the agricultural sector are quite similar for Canada and Mexico, there is clear variation across key commodities, and forecast losses for the listed commodities are also higher for US/Mexican tariffs as compared to US/Canadian tariffs.  Importantly, these forecast losses increase if additional 10 percent tariffs are levied on Chinese imports, and subsequently matched by China.

While not reported in the table, if the United States were also to levy 60 percent tariffs on all Chinese imports, and 10 percent tariffs on all imports from the rest of the world, with tit-for-tat retaliation, the total value of US agricultural exports for 2025 are forecast to decline 34.4 percent, i.e., a loss of $60.6 billion.  In this scenario, US soybeans would be the most vulnerable, followed by wheat and corn.  At the state level, Ohio agriculture is forecast to lose -$705 million in export value in 2025 if the most extreme scenario plays out, with a loss of -$359 million for soybean exports.

Although these expected losses are obviously subject to forecast error, at a time when commodity prices have been falling, additional uncertainty about export markets due to changing US trade policy will likely exacerbate any financial stress faced by US farmers.   It will also place additional pressure on the federal government to consider ways of reducing sectoral stress through further ad hoc payments to farmers similar to the Market Facilitation Program (MFP) applied during the 2018/19 trade war.

Financial planning is always a critical component of operating a farm business, and the potential negative impacts of tariffs reinforce the need to analyze costs, evaluate alternatives, and develop plans.  For assistance, please contact your Extension Educator and enroll in the OSU Extension Farm Business Analysis and Benchmarking Program (https://farmprofitability.osu.edu/).  Enrolling in this program will provide you an in-depth analysis of your farm business and allow you to plan for future success.

 

Ohio Virtual Beef School begins January 29: An evening with Kenny Burdine

 

 

 

 

The OSU Extension Beef Team is pleased to be offering a Virtual Beef School featuring one webinar per month beginning January 29 and concluding in April.

For the first session join us – either in person in the Fairfield County Ag Center in Lancaster, or via ZOOM – on January 29 as we spend an evening exploring the economics of the beef cattle and livestock sector with University of Kentucky Extension economist Kenny Burdine.

Going into 2025 beef cattle prices are at record highs! Can it continue? How long will the consumer continue to support these price levels? Is it too late to consider expansion? On the 29th Burdine will offer his insight into this and more.

Kenny grew up in Jessamine County, KY where his family produced tobacco and raised cattle and sheep. He received his B.S. in Agricultural Economics in December of 1999, and began working as an Extension Associate in the Department of Agricultural Economics at UK. He pursued his graduate degrees on a part-time basis completing his M.S. in 2003 and Ph.D. in 2011. Burdine joined the UK Agricultural Economics faculty in 2012 and is currently an Extension Professor in livestock economics.

Burdine focuses his extension program in the areas of livestock marketing, price risk management, and general profitability. He travels extensively and delivers 40-60 programs each year directly for livestock producers. His applied research interests are primarily focused on marketing and decision-making for beef, dairy, and forage producers. Kenny also teaches a livestock marketing class on campus.

Don’t miss this opportunity to listen in beginning at 6:30 p.m. on January 29th as we are privileged to be hosting Kenny Burdine as he discusses his views on the economic future of the beef cattle industry.

The subsequent three Virtual Beef School sessions are as follows:

February 26:

  • Post Drought Pasture Management with Christine Gelley, OSU Extension Noble County
  • Annual Forages as Supplemental Feed – Jason Hartschuh, OSU Extension Field Specialist

March 26:

  • Why Are My Cows Open? – Dean Kreager, OSU Extension Licking County
  • Open Cows – Keep or Cull? – Stan Smith, OSU Extension Fairfield County

April 30:

  • Implementing Genomic Testing on Your Farm – John Yost, OSU Extension Wayne County
  • Heifer Development – What Have We Learned? with Garth Ruff, OSU Extension Field Specialist

Interested attendees can register for any of these webinars for free by visiting: go.osu.edu/beefschool25. If planning to attend the “live” presentation of session 1 in Lancaster on January 29, please register at https://go.osu.edu/BeefOutlook

For more information, contact OSU Extension Beef Field Specialist Garth Ruff.

OSU Extension offering virtual Farm Transition and Estate Planning Course in February

If you and your family are grappling with the critical issue of how to transition the farm operation and farm assets to the next generation, OSU Extension is here to help. Producers are encouraged to attend a four evening virtual “Planning for the Future of Your Farm” workshop on February 3, 10, 17, and 24, 2025 from 6:30 to 8:00 p.m. via Zoom.

Pre-registration is required so that a packet of program materials can be mailed in advance to participating families. Electronic copies of the course materials will also be available to all participants. The registration fee is $99 per farm family.  Register by January 24, 2025 in order to receive course materials in time. Click here to register or go.osu.edu/successionregistration

This workshop challenges farm families to actively plan for the future of the farm business.  Learn how to have crucial conversations about the future of your farm and gain a better understanding of the strategies and tools that can help you transfer your farm’s ownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm.

Teaching faculty for the workshop are David Marrison, OSU Extension Farm Management Field Specialist, and Robert Moore, Attorney with the OSU Agricultural & Resource Law Program. Topics which will be covered in the workshop include:

  • Developing goals for estate and transition planning
  • Planning for the transition of control
  • Planning for the unexpected
  • Communication and conflict management during farm transfer
  • Federal estate tax challenges
  • Tools for transferring assets
  • Tools for avoiding probate
  • The role of wills and trusts
  • Using LLCs
  • Strategies for on-farm and off-farm heirs
  • Strategies for protecting the farmland
  • Developing your team
  • Getting your affairs in order
  • Selecting an attorney

Thank you! OSU Extension would like to thank Ohio Corn and Wheat for their generous sponsorship of these programs.

We hope you’ll join us to move forward on planning for the future of your farm!  For questions about the workshop, please contact David Marrison at marrison.2@osu.edu or 740-722-6073

2025 First Quarter Fertilizer Prices Across Ohio

By: Amanda Bennett, Eric Richer, Clint Schroeder, OSU Extension

Click here for PDF version of this article

The first quarter results from a survey of Ohio retail fertilizer prices showed prices were varied when compared to the national averages reported by Progressive Farmer – DTN (Quinn, 2025). The survey was completed by 16 retailers, representing 13 counties, who do business in the state of Ohio. Respondents were asked to quote spot prices as of the first day of the quarter (January 1st) based on sale type indicated. This is part of a larger study conducted by OSU Extension to better understand local fertilizer prices, which began in December 2023.

The survey found the average price of fertilizers was lower in Ohio compared to the national prices for four fertilizers, UAN, MAP, APP and potash. However, only two were significantly lower, defined as more than 5% lower than the national average. UAN and potash were both significantly lower than the national average at 10.4% lower per ton and 6.5% lower per ton, respectively.

When compared to prices from the last quarter’s survey, two fertilizers were up significantly (more than 5%): UAN, up to $292/ton from $271/ton and DAP at $743/ton from $704/ton.

The chart below (Table 1.) is the summary of the survey responses. The responses (n) are the number of survey responses for each product. The minimum and maximum values reflect the minimum and maximum values reported in the survey. The average is the simple average of all survey responses for each product rounded to the nearest dollar. We recognize that many factors influence a company’s spot price for fertilizer including but not limited to availability, geography, volume, cost of freight, competition, regulation, etc.

Table 1. First Quarter 2025 Ohio Fertilizer Prices

Product Responses

(n)

 Sale Type Min

$/ton

 Max

$/ton

 Avg

$/ton
NH3 8 FOB Plant 720 780 752
UAN 28-0-0 13 Direct to Farm 271 323 292
Urea 46-0-0 12 FOB Plant 440 510 491
MAP 11-52-0 11 FOB Plant 740 835 800
DAP18-46-0 6 FOB Plant 705 765 743
APP 10-34-0 10 Direct to Farm 590 635 613
Potash 0-0-60 13 FOB Plant 350 445 415
Ammonium Sulfate 21-0-0-24 10 FOB Plant 325 562 460
Thio-Sulfate 12-0-0-26 10 FOB Plant 325 458 358

Due to low responses, poultry litter and diesel prices was not included in Quarter 1 survey results. If you are a retailer interested in participating in this study, please contact Amanda Bennett at bennett.709@osu.edu.

References

Quinn, R. 2025. DTN Retail Fertilizer Trends. DTN Progressive Farmer. Accessed online January 8, 2025 at https://www.dtnpf.com/agriculture/web/ag/crops/article/2025/01/02/retail-fertilizer-prices-mixed-end

Bennett, A., Richer, E., & Schroeder, C, (2024). 2024 Fourth Quarter Fertilizer Prices Across Ohio. Farm Office Blog. https://farmoffice.osu.edu/farm-management/quarterly-fertilizer-price-summary

Farm Office Live Webinar to be held on January 17 from 10:00 to 11:30 a.m.

OSU Extension will be offering a Farm Office Live webinar on Friday, January 17 from 10:00 to 11:30 a.m. Farm Office Live is a monthly webinar of updates and outlooks on legal, economic, and farm management issues that affect Ohio agriculture. Topics which will be addressed during the January webinar include:

  • Legislative Round-Up
  • Farm Bill and American Relief Act of 2025
  • Farm Business Analysis Program Update
  • Long Term Care Update
  • Quarterly Fertilizer Update
  • Crop Input Outlook
  • Livestock Outlook
  • 1099 Reminders
  • Winter Program Update

Featured speakers include Peggy Hall, David Marrison, Robert Moore, Eric Richer, Garth Ruff, Clint Schroeder and Barry Ward.

Register for this and future Farm Office Live webinars through this link on farmoffice.osu.edu.

Past recordings and additional information about the Farm Office Live Webinars can be accessed at:

https://farmoffice.osu.edu/farmofficelive

 

Quarterly Grain Conversation Slated for 2025

OSU Extension invites grain producers and industry personnel to save the dates for the quarterly grain market conversations with Dr. Seungki Lee, Assistant Professor in the Department of Agricultural, Environmental and Development Economics (AEDE). This quarterly zooms will be held on February 14, May 16, August 15, and November 14.  Each zoom will be held from 7:30 – 8:00 a.m.

During these Zoom webinars, Dr. Lee will provide his insights on the World Agricultural Supply and Demand Estimates (WASDE) crop report. “These early morning webinars will be a great way for Ohio farmers to learn more about the factors impacting the corn, soybean, and wheat markets” said David Marrison, Interim Director for OSU Extension’s Farm Financial Management and Policy Institute.  Producers are encouraged to bring their questions to this early morning conversation.

CoffeewithSeungkiLee2025-final

There is no fee to attend this quarterly webinar session. Pre-registration can be made at go.osu.edu/coffeewithDrLee

These webinars are sponsored by: OSU Extension, Farm Financial Management & Policy Institute (FFMPI), and Department of Agricultural, Environmental and Development Economics (AEDE).

 

OSU Extension Assist Farm Families with Farm Transition and Estate Planning

If you and your family are grappling with the critical issue of how to transition the farm operation and farm assets to the next generation, OSU Extension is here to help.  Attend one of our “Planning for the Future of Your Farm” workshops this winter to learn about the communication and legal strategies that provide solutions for dealing with farm transition needs and decision making.  We’ve scheduled both a webinar version and several in-person options for the workshop.

This workshop challenges farm families to actively plan for the future of the farm business.  Learn how to have crucial conversations about the future of your farm and gain a better understanding of the strategies and tools that can help you transfer your farm’s ownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm.

Teaching faculty for the workshop are David Marrison, OSU Extension Farm Management Field Specialist, and Robert Moore, Attorney with the OSU Agricultural & Resource Law Program. Topics which will be covered in the workshop include:

  • Developing goals for estate and transition planning
  • Planning for the transition of control
  • Planning for the unexpected
  • Communication and conflict management during farm transfer
  • Federal estate tax challenges
  • Tools for transferring assets
  • Tools for avoiding probate
  • The role of wills and trusts
  • Using LLCs
  • Strategies for on-farm and off-farm heirs
  • Strategies for protecting the farmland
  • Developing your team
  • Getting your affairs in order
  • Selecting an attorney

Webinar version.  You and your family members can attend the workshop individually from the comfort of your homes.  The four-part webinar series will be February 3, 10, 17, and 24, 2025 from 6:30 to 8:00 p.m. via Zoom. Pre-registration is required so that a packet of program materials can be mailed in advance to participating families. Electronic copies of the course materials will also be available to all participants. The registration fee is $99 per farm family.  Register by January 22, 2025 in order to receive course materials in time. Click here to register or go.osu.edu/successionregistration

In-person workshops.  Our local Extension Educators are hosting in-person workshops at five regional locations across Ohio during the upcoming winter.  Registration costs vary by. The in-person workshops will be held on

Registration is required.  Find registration information for all workshops at go.osu.edu/farmsuccession

Thank you! OSU Extension would like to thank Ohio Corn and Wheat for their generous sponsorship of these programs.

We hope you’ll join us to move forward on planning for the future of your farm!  For questions about the workshop, please contact David Marrison at marrison.2@osu.edu or 740-722-6073.