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
Research shows a small number of companies account for much of the nation’s ammonia production capacity.
Fred Seamon with CME Group joins us to discuss the latest Ag Economy Barometer and the key economic pressures shaping producer sentiment in May.
Brazil Potash CEO Matt Simpson discusses global fertilizer security, the importance of domestic production, and Brazil’s push toward fertilizer independence, which could impact market competitiveness.
Improved coffee output could strengthen the U.S. supply, but input costs and weather risks keep the outlook uncertain.

LATEST STORIES BY THIS AUTHOR:

Estate tax relief reduces pressure, but succession planning remains the critical challenge for farm families.
Midwest corn and soy producers are monitoring for disease and lower yields due to the ongoing drought over the last 30 days.
Farm work is hard work, and as the harvest season brings heavier workloads, experts are urging producers to pay closer attention to joint pain and ways to prevent it.
On this week’s episode of FarmHER + RanchHER, host Kirbe Schnoor travels to Wilson’s ranch to see how she blends tradition and technology to raise elite Red Angus cattle.
Fewer placements and historically low marketings point to tighter cattle supplies ahead, with Nebraska and Kansas gaining ground as Texas feedlots face supply pressure and the threat of New World Screwworm.
Industry-wide participation in SHIP enhances biosecurity and fosters global trust in U.S. pork, says swine health expert, Dr. Christine Mainquist-Whigham.