During a call with reporters Thursday, Tom Miller said increases would be expected with the rising cost of natural gas as well as other factors.
“But the question is, do those factors justify the increases?”
Miller pointed out anhydrous ammonia prices are up more than 300 percent compared to last year, urea and potash are up about 215 percent, and liquid nitrogen is up 250 percent.
He says his office is bringing in economists to study key factors.
“And in particular, was it consistent with supply and demand? Is this answered by supply and demand or answered by other indications or other factors?
Iowa Corn Growers Association leaders approached Miller with concerns about the price increases, and he says he’s also discussed the issue with the Iowa Soybean Association, U.S. Ag Secretary Tom Vilsack, and others.