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Fertilizer prices dropped sharply from a year earlier, with Illinois urea down 25% and anhydrous ammonia down 13% in late January 2023. UAN prices, however, remained about 4% above year-ago levels after European plant shutdowns increased export demand.
Retail phosphate and potash prices also eased after demand destruction following the 2022 price peak.
Persistently high UAN prices could push some farmers toward soybeans rather than corn in spring, while lower urea and phosphate costs improve input affordability for the 2023 season.
farmprogress.comJacqueline HollandFeb 3, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
