Volatile Fertilizer Market Likely to 2023

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Farmers had many questions about fertilizer this spring, according to Corey Rosenbusch, president and CEO of The Fertilizer Institute.

“I have spent a good part of the last six to eight months there with the farmers and that is what concerns them, they want to know if I will be able to supply myself? Will I be profitable? Can I lock prices? And all of that has been big question marks,” says Rosenbusch.

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

Corey Rosenbusch, President and CEO of The Fertilizer Institute. Photo courtesy of the Fertilizer Institute.

“I don’t know if we really were in a supply crisis, but there were a lot of global things that I think scared people at the start of this planting season,” Rosenbusch said. “I think at the moment we have volumes down, we’ve had a lot of change in planted acreage, and now the impact of the weather, I think people are pretty confident that we’re going to be well supplied. I think you will continue to see the challenge a farmer is going to have when they go out and ask for a price in this volatile market, it will be difficult for them to always fix it.

Summer and fall applications, as well as next spring are the next big questions farmers are asking.

“We’re not necessarily permitted to make forward-looking statements, but I will say that some of the things I hear from our members is that this is a long-term market condition, that the momentum of this market is likely to be around at least until 2023,” according to Rosenbusch.

He thinks farmers should prepare to endure a volatile fertilizer market for about another year.

Source: NAFB

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