With two consecutive quarters of negative GDP growth, the U.S. economy is in a ‘technical recession.’ The new Rabobank North American Agribusiness Review says the economy is fading and a recession will be declared officially soon. The report says phosphate and potash prices should moderate while a volatile nitrogen fertilizer market leaves the potential for higher prices for the 2023 planting season. Rabobank sees the potential for a double-digit increase in seed prices.
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