As Nitrogen prices continue to surge, getting the most out of every dollar tops the mind of every grower. As of November 18, anhydrous ammonia prices were up $138 per ton on average from the price just two weeks earlier. Since July of this year, prices have increased 84%, and from last year at this time, 209%. With uncertainty ahead on whether prices will plateau or decline, supply disruptions play a key role in availability in cost of every nitrogen application. Farmdoc Daily, from the University of Illinois, outlined five key strategies in managing high nitrogen prices.
1. Plant more soybeans, as soybeans reduce the need for nitrogen application.
2. Apply in the fall. If weather or other conditions limit this option, split application may be the next best choice.
3. Split applications, a strategy that mitigates risk by allowing the pricing of fertilizer multiple times.
4. Apply nitrogen as anhydrous ammonia. This form of nitrogen is almost always less expensive.
5. Reduce nitrogen rates. Using soil testing and other precision ag practices, reducing the cost of nitrogen can be as simple as simply applying less.
Read more on these strategies and other tips for nitrogen purchase and application here.
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