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North Dakota State University Extension warned farmers that fertilizer prices are the highest in four years, with DTN reporting national average urea at $418 per ton and DAP and MAP above $500 per ton as of May 10. The price pressure comes as USDA expects nearly 1 million more acres of corn in North Dakota, a heavy nitrogen user.
Extension advised pre-pricing fertilizer in late fall and winter, when prices typically run lower.
Elevated nitrogen and phosphate costs raise the input cost base for feed grains at a time of thin margins, supporting fertilizer prices while weakening farm budgets. Buyers should expect firm input costs to persist into the planting season.
ag.ndsu.eduMay 13, 2019Not 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.
