The Louisiana facility would produce over a million metric tons of phosphate fertilizer each year. CHS says it would be the first new U.S. phosphate fertilizer plant built since 1984.
Recent earnings show farmers continuing to invest in crop inputs while remaining cautious about major equipment purchases.
Anhydrous prices are still 27 percent higher than a year ago.
The 90-day extension gives fertilizer suppliers additional transportation flexibility through the fall application season.
The return of Moroccan phosphate adds another fertilizer supply source ahead of fall application.
Lower prices could create opportunities for growers, while global supply concerns continue for phosphate.
The tool tracks prices, supplies and transportation costs affecting farmers.
Growing computing demand could increase competition for natural gas used by agriculture and rural utilities.
Industry analysts are also monitoring oil markets as global conflicts continue.
Federal officials are nearing the end of investigations into potential criminal and civil violations by fertilizer manufacturers.