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Fertilizer Market Update

Dec 22, 2023

Budget

Market Updates

I hope this message finds you well. As a full-service crop inputs supplier, we understand the crucial role prepaying fertilizer plays in your agricultural operations for risk management and tax planning. Our commitment is to keep you informed about the fertilizer market trends and ensure we have adequate supply in our sheds before Spring, so we do not need to rely on unpredictable river logistics to get product to your fields just in time.

Market Trends Over the Last Several Months
The fertilizer market has experienced notable changes over the past year. Here's an overview of the year-to-year changes in pricing for various fertilizer products: 

  1. Nitrogen: Urea and UAN 32%/28%: Both have seen a significant decrease in prices with UAN maintaining a cost per unit of N premium vs. Urea (not as large of a premium as a year ago, but still a premium) 
  2. Potash: Also moved significantly downward since Spring but is flat compared to Fall. 
  3. MES10/DAP: While there's been a decrease in price since last Spring, the North American market is facing a shortage of phosphates. Despite the import duties changes on Moroccan products, the decrease in Chinese exports combined with increased duties on Russian products affects import availability in our market. 
  4. Other Products: AMS and XLRate have seen price reductions, while 98G and Cal-Sul have slightly increased. 2x2 liquids are also more affordable compared to last year. 

Upcoming Price Adjustments
Please note that these prices are subject to change no later than January 10th. The expected adjustments will at least cover the cost of money, depending on market conditions. Contact our sales team to schedule a meeting to discuss your 2024 needs. 

We understand that these market fluctuations can be challenging to navigate. Our team is here to support you in making informed decisions for your operation. We appreciate your trust in us and look forward to continuing our partnership. 

David Fiene

COO
 

 

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