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University of Illinois and Ohio State economists report that fertilizer prices have trended lower. Illinois Production Cost Report data show anhydrous ammonia falling from $1,434/ton in November 2022 to $1,237/ton by late February 2023.
Lower natural gas and corn prices have driven nitrogen declines.
Cheaper nitrogen reduces the cost of grain production, which can ease feed grain pricing over time. Renewed geopolitical or supply disruptions could still reverse the trend.
farmdocdaily.illinois.eduHongxia JiaoMar 1, 2023Not 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.
