Planting delays push fertilizer prices lower
Farmers are seeing a slight dip in fertilizer prices this spring.
Jason Troendle, Director of Market Intelligence and Research with The Fertilizer Institute, says weather-related planting delays have pressured the market. “We don’t anticipate them to drop significantly,” he said.
He tells Brownfield India has re-entered the market, which could firm global prices once again. “With them kind of waiting to this point to come to the market, that has allowed some stuff to soften as well,” Troendle said. “I think it’s a combination of both international and domestic factors.”
But, Northeast Nebraska farmer Jody McFarland tells Brownfield, fertilizer prices are still at record levels. “A lot of fertilizer is over $1000 a ton right now where it was under $500 easily last year,” McFarland said.
He says the majority of the input has been purchased and applied. “Everything so far we’re booked up other than maybe a little side dress later, but it sounds like if we use urea for side dress, they’ve got the supply on-hand so we should be sitting pretty good,” McFarland said.
New Orleans (NOLA) urea fell about $100 per ton a week ago, while NOLA diammonium phosphate (DAP) prices dropped nearly $80 per ton. Corn Belt DAP prices plunged $30-$35.
*Brownfield’s Kellan Heavican contributed to this story.