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
Economists say geopolitical headlines and concerns surrounding the Strait of Hormuz are driving volatility
Huma Chief Sales and Marketing Officer Fred Nichols joins us to discuss rising interest in carbon-based products, soil health strategies, and fertilizer cost concerns.
Farmers are closely watching upcoming U.S.-China trade talks as rising fertilizer and diesel costs continue to pressure exports, margins, and rural economies.
Ohio farmer Chris Gibbs joins us to discuss planting progress, weather conditions, and how geopolitical tensions are clouding his growing season outlook as input concerns continue to escalate.
RealAg Radio’s Shaun Haney and other experts break down ongoing energy market volatility, its impact on producer decision-making, and key indicators farmers should monitor moving forward.
Cotton margins improved slightly, even as fertilizer and fuel costs rose due to the Strait of Hormuz disruption linked to the Iran war.

LATEST STORIES BY THIS AUTHOR:

Export Inspections In Bushels Show Mixed Momentum Patterns
Expect firmer shop prices, leaner inventories, and selective hiring in ag-adjacent businesses — plan parts, service, and financing needs earlier.
FFA students in New York City are transforming urban spaces into working farms while gaining hands-on skills that connect city life with the roots of agriculture.
Alan Bjerga with the National Milk Producers Federation joins us to discuss the idea behind the campaign and why accurate labeling on plant-based beverages matters to both consumers and dairy producers.
Hughes shares how he’s preparing for the competition, his partnership with Bass Fishing Hall of Famer Mark Davis, and his journey from cattle ranching to professional bass fishing.