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University of Illinois and Ohio State economists reported that fertilizer prices have fallen since spring but remain high, with Illinois anhydrous ammonia at $1,318 per ton on September 22 after dipping to $1,153 in late August. They advised reducing phosphorus, potassium and nitrogen rates where soil tests or university recommendations allow.
Persistently high fertilizer costs relative to crop prices may lead to lower application rates, which can trim future corn yields and nitrogen demand.
farmdocdaily.illinois.eduHongxia JiaoSep 27, 2022After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 26 past neutral report events, UREA moved a median -0.4% over 5 sessions (42% higher; middle half -4.1% to +1.5%), and +0.9% over 20.
After 38 past neutral report events, DAP moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +1.6%), and +3.9% over 20.
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.
