As farmers consider fall fertilizer purchases, several global factors continue to weigh on costs. Nutrien Ag Solutions Chief Economist Jason Newton says seasonality is a big factor for nitrogen fertilizer. “Nitrogen prices globally are expected to decline going into the third quarter of the year.” For the fourth quarter, Newton expects global market conditions to remain volatile, especially for nitrogen. “We know the Chinese government has been rumored to add further restrictions to urea exports with exports down from China year-to-date. Ammonia supplies from Russia are down significantly. Raw material prices are another final factor to watch, especially natural gas and coal.”
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