Fertilizer
Russia’s trade and industry ministry has recommended the country’s fertilizer producers temporarily halt exports, the ministry said Friday, in a sign that sanctions imposed could have a global impact.
Secretary Vilsack supports attorney generals search for answers. He says once the market studies are completed, “we may learn additional steps we can take.”
No matter where you travel across the country right now, farmers share similar concerns. The latest Ag Economy Barometer fell to its lowest reading since July 2020 as the input situation weighs outlooks.
Dept. of Commerce issued a preliminary determination this week showing urea nitrate from Russia and Trinidad and Tobago is being sold into the U.S. at less than fair value. The ruling could open the door for tariffs.
A fire at the Weaver Fertilizer Plant fertilizer in Winston-Salem, N.C. forced 6,500 local residents to evacuate. The fertilizer plant is home to 300 tons of ammonium nitrate, sparking fears of possible explosion.
From issues sourcing inputs to input prices holding at record and near-record levels, acreage decisions in 2022 are being shaped by more than just weather and commodity prices. And analysts warn more risk is ahead.
Recent COVID-19 vaccine mandates in both the U.S. and Canada could take even more truckers off the road. Trucking industry experts warn while empty store shelves could turn into more fertilizer shortages next.
The report found nitrogen accounts for more than 50% of fertilizer costs for a corn producer at $117 per acre.
A new report from Texas A&M Agricultural and Food Policy Center (AFPC) a 50% rise in fertilizer prices equates to an average of $128,000 per farm. The largest per-acre impact would falls on rice farms at $62.04 an acre.
Have record high fertilizer prices finally peaked? While prices continue to remain high right now, there were some signs last week and already this week that indicate some relief and stability may be in sight.