It was less than a year ago that we were worried about how we were going to be able to afford to put fertilizer on the fields in the fall or this spring and grow a crop in 2023. How were we going to break even when some prices were topping over $1,500 per ton for fertilizers? This past spring, prices had eased back, and it was a little easier to afford. Many farmers had also been able to lock in prices before they exploded last year.
As time has gone on, the prices that have gone up have come back down. They have actually almost done a complete one-hundred-and-eighty-degree turn. Samuel Taylor is the Executive Director of Farm Inputs Research at Rabobank. He talks about the fertilizer price turnaround.
Taylor says that we may not have even reached the bottom of this fertilizer market.
Taylor expects many suppliers to take advantage of these prices, so they can offer some assurance of better prices to their farmer customers. Even with an expected rush on supplies, Taylor says that he doesn?t foresee a rise in prices.
Farmers will soon be ready to take advantage of the situation and lock in lower prices for the 2024 growing season.
