A fertilizer market expert is concerned about the cost of growing the 2023 crop.
John Linville with StoneX says natural gas supplies in Europe come from Russia, and those prices have gone higher, which Linville says affects the price of nitrogen. “With natural gas where it is, we’re estimating it costing around a thousand dollars, per U.S. dollar, to produce one ton of urea, and about two thousand dollars to produce one ton of anhydrous.”
Linville says that’s a double-edged sword because of lost supply in a tight world market and demand doesn’t go away.
