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Fertilizer prices retreated from record highs over the past weeks, but summer swaps on Gulf wholesale contracts point lower. The author argues prices may stay high because the FAO food index, which hit a March record, drives fertilizer values.
High fertilizer costs are likely to persist, keeping input expenses elevated for grain and oilseed growers and supporting crop prices.
pnw.coopApr 18, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Notes fertilizer prices retreating from record highs and Gulf summer swaps pointing lower, consistent with a near-term pullback in DAP.
