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
USDA Secretary Brooke Rollins visits Arizona cotton producers as rising fuel, fertilizer, and fuel and fertilizer costs continue to pressure farm margins.
Fred Nichols with Huma joins us to break down “just in time” fertilizer applications, a growing trend in modern nutrient management as input costs continue to pressure farmers.
Industry leaders say damage tied to the Strait of Hormuz conflict may continue impacting global fertilizer supplies long after shipping resumes.
European officials say the temporary move is aimed at easing pressure on farmers as conflict in the Middle East disrupts fertilizer markets.

LATEST STORIES BY THIS AUTHOR:

Wednesday, June 17 at 7:30 PM ET / 6:30 PM CT
Kevin Charleston with Specialty Risk Insurance joins us to discuss evolving insurance needs in the dairy sector and strategies to support dairy producers during National Dairy Month.
RealAg Radio host Shaun Haney joins us to discuss Canada’s livestock import restrictions, producer reaction to the New World screwworm detection in Texas, and the potential implications for cross-border livestock trade.
HTS Commodities’ Lewis Williamson joins us to recap USDA’s latest Crop Progress Report, troubling winter wheat conditions, and key market factors shaping the markets as the growing season progresses.