And around the world you see a substantial percentage of farmers holding off on planting decisions in the hope that fertilizer prices come down. A tricky little game in the face of incredible uncertainty.
From DTN Progressive Farmer, March 9:
After a week in which half of the average retail fertilizer prices were lower, prices for most fertilizers moved higher the first week of March 2022 compared to a month earlier, according to sellers surveyed by DTN.
Seven of the eight major fertilizers were higher looking back a month, though none were up a significant amount. DTN designates a significant move as anything 5% or more.
DAP had an average price of $879 per ton, MAP $937/ton, potash $815/ton, 10-34-0 $837/ton, anhydrous $1,487/ton, UAN28 $603 (all-time high price) and UAN32 $703/ton (all-time high price).
One fertilizer was slightly lower in price compared to the prior month. Urea had an average price of $887/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.96/lb.N, anhydrous $0.91/lb.N, UAN28 $1.08/lb.N and UAN32 $1.10/lb.N.
Brazil is looking for a new fertilizer supplier as the war in Ukraine threatens to cut off shipments of nutrients to the South American agriculture giant, Dow Jones reported.
Brazil imports about 85% of its fertilizer needs and about a fifth of those imports come from Russia. Russia's trade ministry has called for the suspension of fertilizer exports....
....MUCH MORE
