Harvest is around the corner, and as farmers begin looking ahead to next year, fertilizer will be a big input to consider. It is also one of the most volatile markets.
Researchers at the University of Illinois found nitrogen prices have been as much as 20 percent higher this year over last. While prices are down significantly from highs we saw in early 2022, they are still above historical trends.
Analysts expect anhydrous to hold at $750-$800 per ton through the fall. They also suggest getting price quotes from multiple sources given everyone’s tight financial situations lately.
Analysts with DTN found no major changes over the last week on prices of some of the most popular fertilizers. However, looking back one year, seven of the eight major fertilizers are now more expensive.
UAN-32 takes the lead, coming in 32 percent more expensive than last year. The only fertilizer to see a year-over-year price drop is potash, coming in four percent off this time last year.
Reported results include stronger in-season nitrogen response, average yield gains of more than seven bushels per acre and more than $18 per acre in net return.
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