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NITROGEN FERTILIZER PRICES HIT RECORD HIGH
Nov. 12, 2021
BrownfieldAgNews reports:
Nitrogen fertilizer costs have reached a record high. DTN said the average retail price of Anhydrous ammonia has climbed 38 percent in the last month to more than $1,100 a ton.
Missouri farmer Josh Johnson tells Brownfield managing the rising costs is top priority.
"We're hearing anhydrous prices exceeding $1,200," Johnson said. "So you're getting close to 80 cents a unit per unit of nitrogen."
DTN said the high nitrogen prices are largely related to supply chain issues and shortage concerns rather than an increase in demand.
Ag economist David Widmar with Ag Economic Insights tells Brownfield despite the rising costs more heavily impacting corn production cost, growers need to keep in mind the corn - soybean price ratio.
"That has shifted considerably to really start to favor corn more than soybeans, more than we've seen in the past," Widmar said. "And so, that's going to offset some of this fertilizer."
The University of Illinois' ag economic service farmdoc said it anticipates per-acre fertilizer cost will be about $100 higher for corn and $50 higher for soybeans next growing season.
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