Volatile Fertilizer Market Likely Through 2023

Volatile Fertilizer Market Likely Through 2023

Farmers had many questions regarding fertilizer this spring, according to Cory Rosenbush of the Fertilizer Institute.

“You know, I’ve spent a good part of the last six to eight months out there with the farmers and it’s what they’re concerned about, they want to know am I going to be able to get supply? Am I going to be profitable? Can I lock in prices? And all of those have been great big question marks.” 

However, market conditions and weather have quickly changed the spring outlook.

“I don’t know that we really were in a supply crunch, but there were a lot of global things that happen that I think scared people going into this planting season. I think right now, we got some volumes that are down, we had a lot of planted acreage change, and now the weather impact, that I think has people pretty confident we’re going to be fine on supply. I think you will still continue to see the challenge that a farmer is going to have when they when they go out and ask for a price in this volatile market it’s going to be hard for them to always nail that down.” 

Summer, and fall application, along with next spring are the next big questions farmers have.

“We’re not necessarily allowed to make forward looking statements, but I will say some of the things that I’m hearing from our members is that this is a long-term market condition, that the dynamics of this market are likely to be around at least through 2023.” 

Thus, farmers should prepare to endure a volatile fertilizer market for another year or so.