Fertilizer prices are currently near their lowest levels in a decade.
Ag Economist David Widmar tells Brownfield, most products are cheaper now than the already low prices last spring.
“Anhydrous ammonia is down the most, about 14%. Urea, 28% liquid nitrogen and potash are all down about 9%.”
The one exception is DAP, which is about 4% higher.
He says prices in the spring of 2019 were the lowest in a decade and trends are on par to be even lower for spring 2021.
“This fall prices are right around $90 per acres which is down from the already low $99 per acre we saw back in the spring and it is even down from about $120 per acre back in 2019.”
He says some of the factors driving the decline are record prevent plant in 2019, less corn planted in 2020 and lower energy prices.
Widmar says farmers should still consider opportunities to be even more frugal like switching nitrogen sources to the cheapest option, which right now is anhydrous ammonia.