Economists are warning fertilizer prices are not jiving with grain values right now, and the situation is approaching near record levels.
Josh Linville with StoneX says the urea to corn ratio is at 99 bushels per ton right now, and UAN is at 79 bushels per ton. Linville says those statistics are the second worst in history for this time of year.
He cites a number of reasons, including plant maintenance, restrictions on Russian imports, and uncertainty out of major supply regions like Trinidad.
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Higher input costs are making flexible marketing plans and updated break-even targets more important.
Purdue economist Dr. Joana Colussi discussed the U.S. and Brazil’s reliance on imported fertilizers and their impact on global food security amid rising input costs.
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