Fertilizer Preparations for Next Year

With the Russia—Ukraine war continuing and conflict with Iran and Israel, concerns about the fertilizer market continue for the ag industry. Ag Market.net Co-founder Matt Bennett gives his perspective on what to prepare for.

“Whenever you get into wars like this, then you're going to disrupt the flow, you know, of certain commodities. We already know that phosphate had been tough to get a hold of, so to speak, a little more expensive, relatively speaking, actually, potash is quite reasonably priced, attractively priced for a lot of growers, you know, cheaper than a year ago. Whereas phosphate, you can't necessarily say that. So you know, yes, it's a little bit concerning, no doubt about it. At the same time, fertilizer was also, was already quite expensive, in my opinion.”

Bennett offers his recommendations to growers in booking fertilizer in an uncertain market.

“Essentially, over the last two years, you've seen the grower book fertilizer and maybe not sell enough corn, and I'm just talking relatively speaking, not everyone, but a lot of folks were in that camp. Got to be cautious here this year. I know that the markets have been tough, but to make the assumption that we're not going to see more downside is probably not a wise thing to do. So we've been telling growers, if nothing else, as you're buying this fertilizer set a floor in place.”

Ag Market.net’s, Matt Bennett.