Fertilizer prices are inching lower with all eight of the major products coming in less expensive than this time last month.
MAP, potash, and urea were all six percent less expensive than last month. DAP, 10-34-0, anhydrous, UAN-28, and UAN-32 were lower, but not significantly. Researchers at the University of Nebraska-Lincoln say while fertilizer prices remain high, it is encouraging to see declining costs. On the year, UAN-32 and DAP are the only two that remain higher in price.
Those lower prices have market analysts warning of a possible rush to buy fertilizer. Leaders at StoneX say this week was a busy week for farmers and retailers, and sales could go up. They say, farmers should look at fertilizer prices while also keeping in mind what they can get in the futures market for grain.
If the grain-fertilizer ratio continues to stay better than it has been, they say farmers might want to buy fertilizer supplies now.
