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
Cotton margins improved slightly, even as fertilizer and fuel costs rose due to the Strait of Hormuz disruption linked to the Iran war.
The latest developments point to shifting export routes, higher congestion risk, and continuing cost pressure for grain, fertilizer, and energy shipments.
Purdue University’s Dr. Michael Langemeier joins us to break down the latest read on farmer sentiment in the April Ag Economy Barometer, and growing concerns about the impact of global conflict on farm inputs and income.
StoneX’s Josh Linville discusses USDA’s efforts to boost domestic fertilizer production and his outlook on supply and prices.

LATEST STORIES BY THIS AUTHOR:

Lewis Williamson with HTS Commodities discusses late-season planting progress, market fundamentals heading into summer, and the influence of biofuel policy on grain demand.
New livestock pest research in Texas could strengthen tools protecting cattle health, movement, and ranch profitability.
Avocado growers and buyers face sharp price swings when Mexican supply changes faster than alternative sources can respond.
Corn farmers and ethanol groups are urging Senate action on E-15 legislation while grain basis values strengthen in eastern states.
Julia Andrus with Phospholutions joins us to discuss fertilizer market uncertainty, evolving grower strategies, and how efficiency is reshaping nutrient management decisions in modern agriculture.