Managing Fertilizer Risks: Expect high nitrogen prices to stay for a while
Nitrogen prices have been high for the last year, and industry experts say they will remain volatile well into 2023.
Researchers at the University of Illinois and the Ohio State University took a deeper look at options available to producers for managing risk.
First, PACE, or Post Application Coverage Endorsement, can provide indemnity payments if nitrogen cannot be applied after planting due to qualified weather events.
Secondly, Several Midwest universities have teamed up to create a corn nitrogen rate calculator where you can enter prices into an online tool and get the maximum return to nitrogen rates.
Thirdly, Pricing nitrogen throughout the year can help secure a better price for the season, especially if you have room to store extra supplies.
Lastly, they found timing is everything. Data shows on average, post-fall nitrogen applications provided equally high land return compared to fall applications.