Last week, the price of anhydrous reached an all-time high while urea prices declined. CHS Hedging Director of Producer Brokerage Kent Beadle says there are still many factors contributing to the volatile prices. “Urea prices dropped as much as $200 to $300 per ton, but that was brief. Since then, some of the concerns about Russia and the Ukraine and a surprise tender out of India have caused fertilizer prices to increase again.” Beadle believes many U.S. farmers already locked in their spring fertilizer needs. Flex acres are the exception. Beadle is closely watching China to see what happens after the Olympic games. “Will they start to be active in the world export market? We’ll also watch to see if China offers any tons in a tender with India. That tender could also tell us what kinds of offers are given from other countries to gauge where supplies are at higher prices.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.