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Farm Futures analyst Bryce Knorr says the typical cost of NPK for an acre of corn rose $10 in September, with total increases since spring reaching 45%. Gulf urea futures settled at $667.50 a ton, tying a 2012 peak.
Hurricane Ida disrupted US ammonia production, and low gas inventories are adding to the pressure.
Rising fertiliser costs could cut 2022 farm operating margins by about 35 cents a bushel, which may reduce corn planting. Buyers of corn-based feed should expect higher input-driven price support.
farmprogress.comBryce KnorrOct 5, 2021Not 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.
