Fertilizer Prices Rocket Higher As Farmers Become 'Bullish' On Upcoming Growing Season
DAP Tampa Fertilizer Index has nearly doubled since the start of the year. Patton said the recent cold weather bogged down truck, rail, and barge transportation networks across the Midwest. This led to challenges for transportation networks to haul fertilizer from ports to Midwest areas. She said supplies were "already low or depleted" ahead of the winter season. Demand for fertilizer began to ramp higher in late 2020 as farmers became optimistic about the 2021 growing season with futures prices of agri commodities rising. "Many farmers capitalized on lower fertilizer prices back then a...
Source: zerohedge.com