Concerns continue to build over the impact of the ongoing conflict with Iran on global fertilizer markets. NDSU Extension Crops Economist Frayne Olson says there are two things to watch out for. “Number one is obviously the price. We’ve seen urea, the nitrogen component of the fertilizer, increase substantially, anywhere from $80 to $100 a ton, which is pretty substantial at this time of year.” Supply chain disruptions are the other concern. “The good news, most of the fertilizer we need for spring’s work is already in the fertilizer shed, ready to go. For the farmers that have already pre-priced it, the prices are not going to change. The bigger concern is the lack of physical storage in the region to cover all of the needs for the entire spring’s work.”
