Corn farmers getting quotes for fall fertilizer applications are facing price shock. Fertilizer prices have surged while corn prices have dropped below $4 per bushel. National Corn Growers Association (NCGA) Chief Economist Krista Swanson says it now takes 226 bushels of corn to buy a ton of ammonium phosphate. This is up from 180 bushels earlier this year. It marks record-high corn-to-fertilizer price ratios.

Fertilizer costs make up about 40% of corn production expenses. They remain near 2022 levels despite a 50% decline in corn futures. Swanson said DAP, MAP and UAN 28% all cost around 40% more corn bushels than the 10-year average. Anhydrous ammonia costs 20% more bushels and potash 11% more bushels.

Factors driving costs include lingering supply chain issues, potential tariffs, geopolitical tensions, and U.S. duties on Moroccan phosphate imports.

NCGA, joined by 25 state corn grower groups, sent an Aug. 1 letter to the Trump administration urging action to reduce input costs, reassess trade policies and remove tariffs. They warn that 2025 profit margins could fall more than $100 per acre.

The group advocates for immediate and long-term solutions to ensure affordable fertilizer access, protect against market volatility and sustain farm viability amid rising global demand and constrained supply.

Read more here about the escalating fertilizer prices.