Continuing a favorable seven-week trend, retail fertilizer prices have dropped again, according to a DTN report. Seven of eight major fertilizers saw a decrease in average price, with urea dropping 10% from June at $861/ton. Potash was the lone major fertilizer to increase, now averaging $885/ton.
A recent survey of 183 farmers revealed that 37% believe they will not be buying fertilizer soon, with 24% indicating they may purchase in the next couple of months. 17% of respondents said they would buy at the end of the year. If prices continue to drop in favor of purchasing, only time will tell if these responses change.
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