Fertilizer prices were already soaring due to weather and supply chain shocks exacerbated by the COVID pandemic before Russia invaded Ukraine in February, leading USDA to announce a $250 million investment in new U.S. production capacity. The question is how much impact that funding can have.
Gingko Bioworks and Bayer are joining together as strategic partners in an effort “to develop biological solutions in fields like nitrogen optimization, carbon sequestration, and next-generation crop protection,” Bayer announced Friday.
The Biden administration is moving toward providing a new round of payments to farmers who have crop insurance and plant cover crops this year, extending a temporary program created last year. A new policy endorsement designed to encourage reduced nitrogen usage also is coming on the market in 2022.