Fertilizer prices continue to slide with some products nearing two year lows, reflecting a market that remains weak around the world. While prices could get cheaper if the mood stays depressed, current costs offer a substantial savings to last year. Alan Goldsby, CHS fertilizer expert says fall fertilizer applications are down and with low crop prices purchases for spring have been put on hold.

However, he thinks prices are nearing a low and there’s actually more upside risk. So Goldsby advises farmers lock in some of their needs, before demand and prices pick back up.

Last week Ammonia prices dropped anywhere from $20 to $80 on the retail level.  Offers in the Plains are running around $550 to $575, though some are as low as $500. USDA’s survey in Iowa showed prices at $634, but average prices are at two year lows. Urea prices also broke, with the retail offer average down almost $13 to $392.  Average Potash prices dropped more than $8 to $421 as dealers updated offers.