NEW YORK, N.Y. (RFD News) — Fertilizer prices are showing signs of a slowdown, but many remain well above year-ago levels.
Josh Linville with StoneX says farmers remain divided over whether to lock in prices.
“I think it’s a huge mix. I I think that there is a group farmers out there that have gone ahead and they’ve bought their anhydrous for the fall. I think some folks have already started to buy up some of their UAM for next spring. Same thing for urea. These values have dipped down. When you look at where we’re at today on a lot of these prices, they are down remarkably from where they were in March and April. From that perspective, it’s one of those rings that’s like, it’s not quite where I would think it would be historically, but it was also way up here just not that long ago. Let’s just jump on those soon we get the chance. I think there’s gonna be a lot of other farmers who look at and say, this just does not make sense for my operation. If I plug those numbers into my spreadsheet, it’s kicking out red numbers. That doesn’t make sense. I’ll wait and I’ll see.”
Linville told AgInfo.net it is important to leave emotions at the door when making these decisions.
DTN analysts found many nutrient prices are now lower compared to last month, although some remain well above year-ago levels. UAN 28 has fallen 7% over the last month.
Seven of the eight major fertilizer types are more expensive than a year ago, with anhydrous up 27%. Potash saw the smallest increase, up 2% from last year.
