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Good News on the Input Front?

00:00AM Oct 13, 2008

Linda Smith, Top Producer Executive Editor

Natural gas futures are down 50% from their highs near $13.50/mmbtu, and fertilizer is coming down as well. After having less natural gas in storage than the five-year average from March through July, supplies have rebounded to slightly above the average. The Department of Energy's Energy Information Administration projects them remaining that way through 2009 (see chart).
That, combined with expectations for no huge increase in corn acres and slightly lower transportation costs, could mean modest relief from this summer's $1,000+ NH3. However, EIA projects natural gas use for heating homes this winter could increase 1%.

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