Producers see relief in fertilizer prices
For the third week in a row, retail fertilizer prices continue to go down, according to prices tracked by DTN. All eight of the major fertilizers are less expensive compared to a month ago. The cost of anhydrous is down 7 percent compared to last month.
However, looking at the bigger picture, despite lower prices in recent months, all fertilizers continue to be considerably higher in price than a year ago, including Anhydrous which is 80 percent more expensive.
Still, with the downturn in cost, producers are still hesitating on buying fertilizer, according to a recent survey conducted by DTN, asking producers their plans for fertilizer buying.
37 percent responded that they will not be purchasing fertilizer anytime soon. 24 percent responded that they may purchase fertilizer in a couple of months. 17 percent said they usually purchase fertilizer at the end of the year. 11 percent said they already purchased some of my fertilizer needs, and 10 percent said they may purchase fertilizer within the next month or so.