NASHVILLE, TENN. (RFD NEWS) — Input costs continue to pressure crop margins as fertilizer markets stay elevated ahead of planting, according to Josh Linville, vice president of fertilizer at StoneX.
Nitrogen markets remain volatile. A large Indian urea tender is pending while reports suggest Iranian nitrogen production may return after gas supply disruptions. Even limited Iranian exports influence global supply expectations. Despite quieter trading, prices remain historically high — urea, UAN, and anhydrous ammonia all rank the second-highest ever for this time of year, meaning farmers must commit unusually large bushel equivalents to secure product.
Phosphate markets also remain tight. China is still expected to stay out of export markets until at least August 2026, and high ammonia and sulfur costs are raising production expenses worldwide. The DAP-to-corn ratio improved slightly but remains near record-expensive levels.
Potash is comparatively stable and considered reasonably priced. Meanwhile, sulfur prices are surging amid tighter global supply and rising demand, lifting costs for phosphate- and sulfur-based fertilizers.
National Sorghum Producers CEO Tim Lust said farmers face a challenging year with strong supply, murky trade conditions, and uncertain access to their largest market: China.
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Tariffs are pushing up input costs, with fertilizer prices rising $100 per ton and machinery costs climbing due to steel and parts duties.
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China has been largely absent from U.S. markets lately, but not when it comes to cotton. It’s a buy that, traders say, isn’t surprising given China’s limitations.
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U.S. producers are holding off on equipment investments amid financial pressure, market uncertainty, a rising demand for diesel, and growing desperation for trade wins.
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Farm CPA Paul Neiffer joined us on Thursday’s Market Day Report for a closer look at how Trump’s Big, Beautiful Bill changes to base acres and potential impacts on future ARC and PLC payments.
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The September WASDE report comes out on Friday at Noon ET. As always, we’ll bring you those numbers right here on Market Day Report along with our expert
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