The Russian invasion of Ukraine has sent already record high fertilizer prices even higher. Josh Linville, Director of Fertilizer for Stone X Financial says the biggest spike has come in the urea market.
He says with Black Sea exports shut down that means there won’t be any fertilizer supplies moving out of Russia, one of the top global exporters of various products.
Linville thinks U.S. farmers will have adequate fertilizer supplies for the upcoming growing season the question is what price farmers will have to pay. The longer the conflict lasts the tighter world supplies will get and the higher prices could go. However, he says its tough to predict a top.
He says the only fertilizer producer that can ramp up production fast enough to get supplies in place by this spring is China. However, their ban on nitrogen and phosphate exports lasts until June.
