Grain Marketing Outlook MeetingsHappening Jan 27 - 28, 2020
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The approximate retail prices for bulk purchases of major fertilizers per ton, published in the Dec. 10, 2015, “USDA Illinois Department of Agriculture Market News Report,” compared to corresponding prices one year ago are shown in the table below. The current prices are noticeably lower compared to prices one year ago.
The monthly price trends from January-December 2015 are shown in the figure below. Generally, fertilizer prices are higher during the growing season and lower during the off-season. Given the fact that fertilizer is the single biggest input cost for corn production, Michigan State University Extension recommends producers be aware of price fluctuations over time and take advantage of purchasing options. Industry experts believe that despite the fertilizer market stability, any unforeseen changes in global demand or supply may cause dramatic price shifts.
Source: George Silva, Michigan State University Extension
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