Retail fertilizer prices moved lower this week for the first time since November 2020. Urea saw the biggest drop, down nearly 50% since the end of March. The cause? Possibly this year’s extremely late planting season. With the drop in corn acres, the fertilizer industry has seen a loss in demand.
But should farmers be locking in the lower-than-more-recent fertilizer prices? Not quite, according to a fertilizer expert at StoneX, who says the prices could dip further depending on whether China restarts its own fertilizer exports and on what happens with the war in Ukraine. And, even as lower prices might start some feelings of relief, they are still trending much higher than pre-pandemic times.
Featured
-
Beef Profit Margins NarrowFebruary 2, 2023
-
USDA Reports Lowest Cow Numbers Since 1962February 7, 2023
-
USDA Lowers Argentinian, Boosts Brazilian Yield EstimatesFebruary 2, 2023
-
Fine Tuning your Farm Marketing PlanFebruary 2, 2023
-
NCBA 2023 Policy Priorities Focus on Disease Prevention, Conservation and Regulatory ChallengesFebruary 3, 2023