> growers expanded plantings of soybeans, which require less fertilizer than grains like corn and wheat
It's not the drought per se, it's input costs. Farmers are favouring crops that need less nitrogen and potassium.
Commodities have responded accordingly.
They all need diesel to run the equipment as well, which is also approaching all time highs.
> growers expanded plantings of soybeans
A year ago China stopped buying soybeans from the US is seems ("China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0." - https://www.nytimes.com/2025/09/25/business/china-soybean-sa...), was that resumed, or who are all these new soybeans going to? Is it all for national use instead of export?