New California Fertilizer Rules and Farm Real Estate Values Higher

**New fertilizer management rules took effect this month for vegetable growers in California’s Central Coast region.

Growers must now record and report fertilizer applications under rules imposed by the Central Coast Regional Water Quality Control Board.

The regulations begin by allowing growers to apply up to 500 pounds of nitrogen per acre above what’s removed, but grow stricter until 2051, when the standard tightens to a maximum of 50 pounds per acre.

**For the second straight week, the nation's average gas price increased, up eight cents from a week ago to $3.44 per gallon.

That’s up 7.1 cents from a month ago and down 87.7 cents from a year ago.

But, the national average diesel price fell 4.1 cents and stands at $4.30 per gallon, 82.1 cents lower than one year ago.

GasBuddy's Patrick De Haan says the diesel price continues to slowly decline as we consumption lightens.

**Farm real estate values increased considerably in 2022 but showed signs of softening late in the year as interest rates on farm loans jumped to decade highs alongside increases in the federal funds rate.

The Kansas City Fed says while the value of most farmland continued to rise, the increase was the slowest since early 2021.

The outlook for agricultural credit conditions in 2023 also remained generally positive, despite some ongoing concerns.