Nitrogen fertilizer prices could be as much as 20% higher this year over last

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.

Related Stories
U.S. Secretary of Agriculture Brooke Rollins joined us to discuss fertilizer markets, domestic supply efforts, trade priorities, and ongoing policy work aimed at stabilizing costs for U.S. farmers.
Rep. Dusty Johnson of South Dakota joined us to discuss rising input costs, proposed fertilizer legislation, and potential support for farmers navigating tight margins.
Shifts in energy demand will influence fuel, fertilizer, and input costs.
Patrick De Haan with GasBuddy joined us to discuss diesel price volatility and what farmers can expect as geopolitical tensions continue to impact energy markets.

LATEST STORIES BY THIS AUTHOR:

The investigation does not prove wrongdoing, but it raises federal scrutiny of a major cost center for crop producers.
For decades, U.S. agriculture has planned around feeding a growing world. Experts say that trend could reverse course in the next 30 years.
Farm Bureau economist Dr. Faith Parum says agriculture still needs to see U.S. products actively moving into China.
The proposed merger between Union Pacific and Norfolk Southern would create the nation’s first transcontinental railroad connecting the East and West coasts under a single carrier.